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 and pave the way for the reliable integration of a rapidly growing fleet of renewable generation.
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.
SPP collaborated with hundreds of western stakeholders to develop the detailed Markets+ proposal. This document provides the governance structure, market design and other key features of Markets+ and includes stakeholder input from all virtual and in-person design sessions held in 2022.
The final service offering contemplates a two-phase process for the continuing development of Markets+. In phase one, potential participants and stakeholders will financially commit to draft the market protocols, tariff and governing documents. Phase two – implementation begins upon Federal Energy Regulatory Commission (FERC) approval of the Markets+ tariff. In this phase, SPP will acquire necessary software and hardware while participating entities fully commit to fund and are integrated into the system.
SPP is planning Markets+ update webinars during phase one. You can find more information and register for these meetings here.
During the development of the detailed Markets+ proposal, SPP formed design teams to address proposed design elements: Governance, transmission availability and market products/price formation. Consistent with SPP best practices, volunteers were selected to serve as stakeholder leads to be supported by SPP staff.
- Markets+ Governance Design Team
- Markets+ Market Products and Price Formation Design Team
- Markets+ Transmission Availability Design Team
- Markets+ Greenhouse Gas Design Team
For phase one, SPP will implement the governance structure designed by the stakeholders and documented in the detailed Markets+ proposal. The governance will include a Markets+ Executive Committee (MPEC) and working groups to refine design elements into protocol and tariff language. As the working groups and MPEC are established, we will include links to the groups here.
You can find the detailed Markets+ proposal here.
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April 19, 2023 8:30AM - 12:00PM