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The Integrated Marketplace was successfully launched March 1, 2014. This market expansion is the latest and most complex incremental step in SPP's evolutionary approach to adding market functionality that will coordinate next-day generation across the region to maximize cost-effectiveness, provide participants with greater access to reserve energy, improve regional balancing of electricity supply and demand and facilitate the integration of renewable resources. Specifically, the Integrated Marketplace includes:
• A Day-Ahead Market with Transmission Congestion Rights (TCRs).
• A Reliability Unit Commitment process.
• A Real-Time Balancing Market replacing SPP's Energy Imbalance Service (EIS) Market.
• Incorporation of a price-based Operating Reserve Market.
• Combining current Balancing Authorities into a single SPP Balancing Authority.
Consistent with SPP's evolutionary approach to adding services for our members, several enhancements were implemented one year after the Integrated Marketplace's go-live date. These improvements included three FERC mandated and several member-requested projects. Specifically, phase two included:
• Market-to-Market (FERC)
• Long-Term Congestion Rights (FERC)
• Regulation Compensation (FERC)
• Pseudo-Tie Out (Member)
• Environment Build-Out (Member).
The program's leadership continues to be committed to its members and in the overall delivery of these projects.
The Integrated Marketplace program's leadership structure is aligned with the SPP business model to enable continued operations of ongoing critical functions and addressing potential gaps between current and future operations. The program's leadership is responsible for the Integrated Marketplace's overall delivery, based on the specified scope, schedule, and budget.
Working Group Leadership
The Market Working Group develops and coordinates changes necessary to support SPP-administered wholesale markets and is writing the protocols (i.e., business rules) that will define the Integrated Marketplace's operation. These rules are revised using SPP's normal Protocol Revision Requests (PRR) process.
The Change Working Group (CWG) engages market participants and monitors market and SPP readiness for the Integrated Marketplace. The CWG makes project management and process improvement recommendations to SPP staff and/or the Market and Operations Policy Committee.