November 2, 2024
SPP MMU Issues State of the Market Report for 2020
The MMU's annual report on the SPP market is now available.
The MMU's annual report on the SPP market is now available. | SPP MMU
SPP’s Monitor has scheduled a webinar to discuss both its 2020 State of the Market report and its Spring 2021 quarterly market report.

SPP’s Marketing Monitoring Unit on Thursday released its annual State of the Market report for 2020. The Monitor has scheduled a webinar for Aug. 25 at noon CT to discuss both it and the Spring 2021 quarterly market report, released late last month.

The MMU shared a draft of the annual report last month with SPP’s Board of Directors and Members Committee. (See “MMU Briefs Draft Market Report,” SPP Board of Directors/Members Committee Briefs: July 26-27.)

The annual report’s key conclusions include:

  • Wind generation accounted for the largest percentage of total energy produced, at 31.3%, just ahead of coal at 31%. SPP’s nameplate wind capacity increased to just over 27.3 GW in 2020, up about 22% from 2019.
  • Day-ahead market prices averaged $17.69/MWh and real-time prices averaged $16.62/MWh, a 20% drop for both from 2019 and the lowest since the Integrated Marketplace went live in 2014. The average gas price at the Panhandle Eastern hub was $1.72/MMBtu, down 11% from $1.93 the year before.
  • Total electric consumption was down about 3% in 2020 as a result of the COVID-19 pandemic. The annual peak load of 49,569 MW was also 3% lower than in 2019.

The Monitor made three new recommendations, all unrelated to the February winter storm: updating market and outage requirements to improve transmission congestion rights’ funding; improving market-to-market efficiencies by working with MISO; and raising the offer floor to ‑$100/MW.

SPP/WEIS

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