Quick link: Learn more about Markets+ by filling out this form.
Markets+ is more than just a day-ahead market offering. It’s a conceptual bundle of services proposed by SPP that would centralize day-ahead and real-time unit commitment and dispatch, provide hurdle-free transmission service across its footprint and pave the way for the reliable integration of a rapidly growing fleet of renewable generation. For utilities that see value in these services but who aren’t ready to pursue full membership in a regional transmission organization (RTO) at this time, Markets+ provides a voluntary, incremental opportunity to realize significant benefits.
Since 2019, SPP has partnered with western utility leaders to tailor services that meet their individual and collective needs, including reliability coordination, market administration, resource adequacy program design and operation, and more. Today, SPP provides energy services to utilities in every state in the Western Interconnection. In every instance, we’ve proven our effectiveness in the way we do business. We listen to our stakeholders, facilitate consensus around win-win solutions, and administer durable governance processes that ensure effective and equitable outcomes.
Numerous western utilities have expressed interest in SPP’s services, our approach to governance and our collaborative business model, and we see an opportunity to help achieve something extraordinary in the west. Working together, we can develop a market design that goes beyond current imbalance market service offerings, enhances reliability, increases participant value, equitably compensates participants and incorporates their diverse perspectives.
With the expressed needs of western utilities in mind, Markets+ could feature:
- An inclusive and robust governance model that represents the diverse interests of all Markets+ participants.
- Compatibility with the Western Resource Adequacy Program, ensuring the reliability of the WRAP footprint is prioritized ahead of exports to other regions.
- A market design developed in partnership with western utilities to meet their needs related to energy procurement, greenhouse gas accounting, renewable integration, hourly capacity and flexibility, accuracy and transparency of pricing, and reliability.
- Mechanisms that maximize transmission benefits while eliminating hurdle rates in the dispatch solution and optimizing unit commitment across the market’s footprint.
- Effective seams management that improves trade outcomes with external regions through reliable, efficient and equitable market-to-market solutions.
Western states and utilities are investigating ways to enhance system reliability and increase economic opportunity. As western utility leaders consider options, SPP appreciates their desire to have a meaningful voice in designing the next era of western power markets.
If you’d like to learn more, the first step is easy: Fill out this form to indicate your interest and confirm your contact information. We’ll follow up to provide: 1) a high-level plan for Markets+ development, and 2) links to upcoming informational webinars where we’ll share our vision of how we can design, build and administer Markets+ together.
We’re confident that together we can build the market the west needs, and we’re eager for the chance to explore this possibility in depth with western utilities.