FERC requests additional information regarding Markets+ tariff filing; SPP coordinating response
LITTLE ROCK, ARK. — Southwest Power Pool (SPP) received a letter from the Federal Energy Regulatory Commission (FERC) on July 31 requesting additional information regarding the grid operator’s March 29 Markets+ tariff filing. SPP has already begun work considering these requests and is preparing responses that SPP leaders are confident will adequately demonstrate readiness to build and launch a regional, day-ahead market that effectively and equitably serves customers across the Western Interconnection.
“The innovative and complex market structure of Markets+ is proposed under a stand-alone tariff,” said Antoine Lucas, SPP vice president of markets. “We’ve always anticipated that a deficiency letter from FERC was a possibility given the intricacies of the market structure. We have full confidence we can quickly and effectively address FERC’s request.”
The limited scope of the Commission’s requests for additional clarity indicates its broad understanding and acceptance of the Markets+ design as proposed, with a need for more detail on some specific, nuanced market characteristics. The additional work necessary to respond to the Commission’s questions will not negatively impact the Markets+ timeline.
“The Markets+ development timeline has always had flexibility,” said Lucas. “We allowed ourselves time expecting an extended review at FERC, and we’re prepared to spend the time necessary to assure the Commission we’ve accounted for every possible contingency in the market’s operation.”
Markets+ participants continue to work on defining detailed protocols for the market’s administration. Phase two development of Markets+ begins in 2025 and includes the development of systems, testing and parallel operations. Markets+ is expected to go live in early 2027. For more information about Markets+, visit www.marketsplus.org.