March 11, 2025

Energy Market

SPP
SPP Markets+ Tariff Wins FERC Approval

SPP reached a key milepost in its Western efforts when FERC conditionally approved its tariff for Markets+, a highly anticipated decision likely to ramp up the competition with CAISO’s Extended Day-Ahead Market.

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FERC Permits 2030 Finish Date for MISO Order 2222 Compliance
FERC accepted MISO’s second try at Order 2222 compliance, allowing MISO time to prepare through mid-2029 before it fully accepts aggregators of distributed energy resources into its markets in 2030.
SPP
FERC Approves SPP Price Formation Rules; Needs More Time on Resource Accreditation
FERC approved price formation reforms for SPP and set questions around resource accreditation for additional proceedings in a pair of orders issued at its regular monthly meeting.
California Natural Resources Agency
CEC Workshop to Focus on Impact of Pathways Initiative
The California Energy Commission will hold a workshop to discuss the West-Wide Governance Pathways Initiative, signaling the state may consider a proposal to alter CAISO’s governance structure to accommodate broader concerns about the ISO’s lack of independence from politics.
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PJM Stakeholders Mixed on Uplift Proposal
PJM and its Monitor presented a joint proposal to rework the balancing operating reserve  credit structure to address a scenario they say results in generators receiving uplift payments despite not following dispatch orders.
CAISO
WEIM Q3 Prices Down Despite Increased Loads, CAISO DMM Finds
Prices in CAISO’s WEIM fell sharply in the third quarter of 2024 compared with a year earlier as declining gas costs outweighed the impact of increased summer loads, the DMM found.
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Benefits of Fast-start Pricing Questionable, CAISO DMM Says
Establishing a fast-start pricing mechanism in CAISO and the WEIM is complex and brings few benefits compared to other potential market enhancements, the ISO's Department of Market Monitoring said.
Bonneville Power Administration
In Letter to Senators, BPA Tempers Markets+ Leaning
The Bonneville Power Administration tamped down expectations that it is all in on SPP’s Markets+, clarifying in a recent letter to lawmakers representing Oregon and Washington that it’s still weighing the pros and cons of joining a day-ahead market.
The Bonneville Power Administration
BPA Market Decision on Track Despite Calls for Delay
BPA remains on track to issue a decision on which day-ahead market to join by May 2025 despite calls to delay it until fall 2025 to give the agency more time to reconsider its leaning toward SPP’s Markets+.
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Nickell: SPP’s Culture Paves Way for its 2025 Success
New SPP CEO Lanny Nickell says the RTO's corporate culture is its "secret sauce" and the key to its success in 2025 as it tackles the grid of the future and expansion into the Western Interconnection.

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