The Federal Energy Regulatory Commission last week approved changes to SPP’s Tariff that clarify the circumstances under which market participants are able to modify their mitigated offers during the operating day.

The commission’s order (ER15-714) approves three changes proposed by SPP to allow:

• Market participants to adjust their mitigated energy, start-up, no-load and operating reserve offers during the intra-day period when the resource faces an unexpected need to change fuel types or incurs higher fuel costs due to a commitment extension by SPP;
• “Quick-start” resources, which are able to generate power within 10 minutes of being notified by SPP, to address limitations in SPP’s clearing engine by reflecting their start-up and no-load costs in their mitigated energy offer curves; and
• Resources with differences between their regulation and economic capacity operating limits to reflect in the real-time market their costs of ramping up or down.

“We find that the specific circumstances described in SPP’s proposal warrant allowing market participants to make intra-day adjustments to their mitigated offers without first seeking approval from the Market Monitor in order to better represent the short-run marginal costs of production for their resources,” FERC said.

SPP’s Independent Market Monitor supported the changes.