SPP stakeholders vote to proceed with Integrated Marketplace March 1
LITTLE ROCK, Ark. – Southwest Power Pool (SPP) will proceed with implementing its Integrated Marketplace on schedule March 1, following an unanimous favorable vote January 31 by the stakeholder-driven Go-Live Team. This will make SPP the first Regional Transmission Organization (RTO) to design, build, and deliver a Day 2 market on time.
An 11-person team of SPP and market participant representatives, the Go-Live Team reviewed positive recommendations from the Change Working Group (CWG) and SPP staff; market participant- and SPP identified risks and issues; and 21 go-live criteria before issuing its formal approval. The CWG is an SPP member/market participant group responsible for changes to market systems.
“A lot of hard work – both on the part of SPP staff but more importantly, our members and market participants – has gone into getting us this close to the finish line,” said Nick Brown, SPP President and CEO. “The Integrated Marketplace is a complex project with many moving parts. We still have much to do the next four weeks, but we know we can count on our stakeholders to make March 1 a reality.”
The Federal Energy Regulatory Commission last week issued its conditional approval of the Integrated Marketplace, approving all of SPP’s proposed tariff revisions, subject to SPP filing additional revisions and explanations. SPP will make its final compliance filing no later than February 28, with an effective date of March 1, 2014.
“We have been committed all along to delivering a quality product on schedule,” said Bruce Rew, Vice President of Operations for SPP and the project’s sponsor.
The Integrated Marketplace is expected to yield estimated annual net benefits of up to $100 million to the SPP RTO region. The project’s work began in 2007, culminating with the first Market Trials in June 2013. The Integrated Marketplace has attracted 103 registered participants eligible for March 1. The Go-Live Team previously approved the implementation of the Integrated Marketplace’s Transmission Congestion Rights (TCR) Market in October. The TCR Market is integral to the Day Ahead Market, ensuring the next-day’s generation within SPP’s footprint will be used economically and efficiently.
About Southwest Power Pool, Inc.
Founded in 1941, SPP is a group of 75 members in Arkansas, Kansas, Louisiana, Mississippi, Missouri, Nebraska, New Mexico, Oklahoma, and Texas that serve more than 15 million customers. Membership is comprised of investor-owned utilities, municipal systems, generation and transmission cooperatives, state authorities, wholesale generators, power marketers, and independent transmission companies. SPP's footprint includes 48,930 miles of transmission lines and 370,000 square miles of service territory. As a Regional Transmission Organization, SPP ensures reliable supplies of power, adequate transmission infrastructure, and competitive wholesale electricity prices. The SPP Regional Entity oversees compliance enforcement and reliability standards development. Learn more about SPP by visiting our Newsroom.