Western regulators on the Markets+ State Committee probed an SPP Market Monitoring Unit official on how the department plans to address implementation of the new day-ahead market.
Western regulators on the Markets+ State Committee (MSC) on Oct. 18 probed an SPP Market Monitoring Unit (MMU) official on how the division plans to address the implementation of the new day-ahead market.
Jodi Woods, SPP director of market monitoring, gave the MSC an overview of the mission and scope of market monitor functions, reiterating that SPP’s monitor is internal to the RTO, functions independently and investigates problems and appeals to FERC, but cannot force a position or set a penalty.
With the implementation of Markets+, the MMU will engage consistently with the MSC and continue regular functions such as monthly, quarterly and annual reporting.
New Mexico Commissioner Gabriel Aguilera asked whether the MMU would increase staffing levels to account for Markets+. Woods responded that an increase is accounted for in the budget and that the MMU will likely have a separate set of employees tackle Markets+ issues.
Arizona Commissioner Nick Myers, who chairs the MSC, asked if there would be staff overlap.
“There was actually a preference from the Markets+ participants that there not be a lot of overlap and that there [be] assurance that the headcount that Markets+ is paying for, which is completely understandable, is actually working on Markets+ issues,” Woods said. “The construct we’ve proposed would allow for a separate Markets+ team that would be focused primarily just on Markets+ issues.”
The MMU has budgeted for around 14 additional employees to be added to the team.
Aguilera additionally asked about the MMU’s process for opposing a tariff change and whether the monitor has its own attorneys.
“If we do decide to file comments in the docket, once the revisions have been filed, we do have external counsel. Sometimes we do it ourselves … but we don’t have lawyers on our team,” Woods said.
Aguilera emphasized the value of having an independent group monitoring activity in the new market.
“It is really essential when we have these incredibly complex machines that are markets and very sophisticated participants who could potentially take advantage of those complex rules,” he said. “I think that the work you do is just invaluable.”
