The Bonneville Power Administration will delay its decision on choosing between SPP’s Markets+ and CAISO’s Extended Day-Ahead Market (EDAM) until May 2025, the federal power agency said Aug. 26. 

In a message circulated on its “tech forum” email distribution list, BPA said it will extend its day-ahead market decision-making process into next year, with a draft decision to be issued in March 2025, followed by a final decision in May. Sources told RTO Insider last week that the announcement of such a delay was imminent after BPA CEO John Hairston said he was evaluating the decision timeline. (See related story, BPA to Delay Day-ahead Market Decision, Sources Say.) 

“This revised schedule will provide additional time to continue comprehensive analysis of market options,” BPA said in the message. “Bonneville recognizes the importance of its day-ahead market decision to the region, our customers and stakeholders. Bonneville remains committed to advocating for a market design that is consistent with our statutory obligations.” 

Both markets have “outstanding issues that require additional analysis,” BPA noted. 

For Markets+, that includes the deficiency notice FERC issued SPP last month in response to submission of the market’s proposed tariff. 

“While SPP is preparing responses, the Markets+ tariff remains unapproved. SPP Markets+ stakeholders continue to engage in protocol development as the tariff process progresses,” BPA said. 

SPP officials this month played down the significance of the notice, saying the commission’s questions were part of a “routine process” and didn’t pose a “serious risk” to the future of the market. (See SPP Dispels Concerns over Markets+ Deficiency Letter.) 

BPA also said it “will continue to fund and commit staff resources to the Markets+ design effort in collaboration with SPP and Markets+ participants,” although it’s not clear yet whether that includes a commitment to funding its share of the estimated $150 million price tag for the Phase 2 implementation stage of the market, which is scheduled to begin next year. 

Regarding CAISO’s EDAM, BPA acknowledged the progress the West-Wide Governance Pathways Initiative has made in getting ISO board approval for giving the Western Energy Markets Governing Body “primary” authority over the market. But it also pointed out that the effort to pass California legislation needed to give that body “sole” governance authority over the EDAM and Western Energy Imbalance Market is still “in the early stages.” 

“Bonneville has been consistent that legislative changes are needed to give EDAM an independent governance structure. Independent market governance that is not obligated to any single state, entity or trade association is paramount for Bonneville to participate in a day-ahead market,” the agency said. 

BPA said it plans to hold additional public day-ahead market workshops on Nov. 8, 2024, and Feb. 6, 2025. It will also schedule a March 2025 workshop after release of its draft market decision. 

“Bonneville appreciates the feedback received in favor of extending the decision timeline. By allowing more time for analysis and further development of EDAM, Pathways and Markets+, Bonneville can make a more informed decision regarding potential market participation for the good of our customers and the Pacific Northwest region,” the agency said.