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PJM©2014www.pjm.com Winter 2014 Overview & Recent and Upcoming Market Rule Changes Adam Keech Director, Market Operations
PJM©2014 2 www.pjm.com Who Are We? 6/03/20142 PJM©2014 13 States + DC Over 60 Million People Served 158,448 MW Peak Load 158,448 MW Peak Load 185,600 MW Installed Capacity
PJM©2014www.pjm.com Winter 2014
PJM©2014 4 www.pjm.com Polar Vortex Source: University of Illinois at Urbana-Champaign
PJM©2014 5 www.pjm.com Maximum Winter Peak Demands
PJM©2014 6 www.pjm.com January 7 Load Compared to Typical January Day
PJM©2014 7 www.pjm.com Interchange – January 7
PJM©2014 8 www.pjm.com Real-Time and Day-Ahead Prices – January 7
PJM©2014 9 www.pjm.com Minimum Temperatures – January 2014 Columbus, Philadelphia, Chicago and Richmond
PJM©2014 10 www.pjm.com Timeline – Operations
PJM©2014 11 www.pjm.com Holiday Considerations
PJM©2014 12 www.pjm.com Extraordinary Fuel Price Relationships
PJM©2014 13 www.pjm.com Gas Prices (Market East) – January 2014
PJM©2014 14 www.pjm.com PJM Load-Weighted LMPs – January 2014
PJM©2014 15 www.pjm.com Improve generator availability and performance during extreme weather events, Implement performance verification or testing of generation in advance of winter operations, Continue to engage in discussions with industry and regulators to improve natural gas and electricity market alignment, Key Recommendations
PJM©2014 16 www.pjm.com Key Recommendations (cont.) Implement market mechanisms that encourage better generator availability, such as incentives for ensuring fuel availability or dual-fuel capability, and Review the cost allocation for uplift charges and investigate a mechanism to allocate uplift costs during emergency operations that minimizes volatility.
PJM©2014www.pjm.com Recent and Upcoming Market Rule Changes
PJM©2014 18 www.pjm.com Prior to Winter 2014 Uplift cost allocation –Energy Market Uplift Senior Task Force –Stemming from Winter 2013 Reserve Pricing and Interchange Volatility –Energy and Reserve Pricing and Interchange Volatility Stakeholder Group PJM proposing: –30 minute reserve market –Economic clearing of interchnage –Stemming from Summer 2013
PJM©2014 19 www.pjm.com Prior to Winter 2014 - Capacity Market Capacity Import Limits –Filed and approved –Implemented for 2017/2018 BRA Operational DR Filing –Filed and approved by the FERC –Most components effective for Summer 2014 Replacement Capacity Filing –Filed and rejected by FERC FERC acknowledges existence of problem –Set for technical conferences
PJM©2014 20 www.pjm.com From Winter 2014 Offer cap review –Currently $1,000/MWh which was exceeded during Winter 2014 –Cap Review Senior Task Force Gas Scheduling –Currently at the Operating Committee Energy and Capacity Market Offer Flexibility –Intra-day offers –Capacity Senior Task Force
PJM©2014 21 www.pjm.com Questions Cold Weather Report: http://www.pjm.com/~/media/documents/reports/20140509-analysis-of- operational-events-and-market-impacts-during-the-jan-2014-cold-weather- events.ashx
PJM©2013www.pjm.com Economic DR participation in energy market ERCOT April 14, 2014 Pete Langbein.
PJM©2013www.pjm.com Resource Adequacy in PJM Adam Keech Director, Market Operations PJM.
©2005 PJM 1 STATE OF THE MARKET REPORT 2004 Joseph E. Bowring Market Monitor FERC Briefing April 13, 2005.
PJM©2012www.pjm.com PJM’s Experience with Capacity Markets Terry Boston President & CEO PJM Interconnection Power Across Texas September 21, 2012.
Reliability Risks and Lessons Learned In The Wake Of The Polar Vortex OPSI Annual Meeting October 14, 2014.
G 200 L 200 ISO NEW ENGLAND T H E P E O P L E B E H I N D N E W E N G L A N D ’ S P O W E R. COLD SNAP Overview of Proposed Options for Winter 2004/2005.
PJM © 2006 The Institute for Regulatory Policy Studies Illinois State University Conference May 12, 2006 Jeff Bladen PJM Interconnection.
PJM©2014www.pjm.com A System Operator’s Resilience Wish List Tom Bowe Executive Director Reliability and Compliance PJM Interconnection
PJM©2013www.pjm.com Deployment of smart-grid technologies – Technology and market challenges Stu Bresler VP, Market Operations PJM Interconnection University.
Programs/Products that ERCOT Does Not Presently Offer ERCOT Demand Side Working Group New DR Product Options Subgroup Jay Zarnikau Frontier Associates.
Connecticut’s Energy Future Connecticut Energy Advisory Board Conference Hartford, Connecticut December 2, 2004 Kevin Kirby Vice President, Market Operations.
© 2013 McNees Wallace & Nurick LLC October 17, 2013 Robert A. Weishaar, Jr. ON SITE ENERGY – INTERPLAY WITH PJM DEMAND RESPONSE PROGRAMS Harrisburg, PA.
PJM© Demand Response in PJM 2009 NASUCA Mid-Year Meeting June 30, 2009 Boston, MA Panel: Price Responsive Demand – A Long-Term Bargain.
PJM©2015 ATTACHMENT TO TESTIMONY OF ANDREW OTT OHIO ENERGY MANDATES STUDY COMMITTEE MARCH 18, 2015
©2004 PJM 1 STATE OF THE MARKET REPORT 2003 Joseph E. Bowring Manager PJM Market Monitoring Unit FERC Briefing Washington, D.C. April 14, 2004.
John Dumas Director of Wholesale Market Operations ERCOT Operating Reserve Demand Curve.
PJM© PJM as Part of the Eastern Interconnection KEY STATISTICS PJM member companies 750+ millions of people served 60 peak load in megawatts.
©2005 PJM 1 APEx The Mature PJM Market Kenneth W. Laughlin PJM October 31, 2005 Orlando, FL.
Mario S. DePillis Jr. USAEE Meeting, Pittsburgh, PA October 25-28, 2015.
Utility Regulation March 10, 2011 Raj Addepalli Deputy Director, Electric, Office of Electric,Gas and Water New York State Department of Public Service.
ERS Procurement Methodology 09/04/2013 ERS Workshop Presented By: ERCOT Staff.
North American Energy Standards Board (NAESB) Electric and Gas Industry Coordination in New England: Cold Weather Conditions Houston, Texas February 9,
Overview of the North American and Canadian Markets 2008 APEX Conference in Sydney, Australia October 13, 2008 Hung-po Chao Director, Market Strategy and.
Wholesale Electricity Market – Western Australia APEx Conference 2008 – Sydney Allan Dawson 13 October 2008.
09/17/2006 Ken Donohoo ERCOT Peak Day August Initial Settlement Data by Fuel Type.
1 Calculation of BGS-CIEP Hourly Energy Price Component Using PJM Hourly Data for the PSE&G Transmission Zone.
©2003 PJM Factors Contributing to Wholesale Electricity Prices Howard J. Haas Market Monitoring Unit November 30, 2006.
Planning for Texas’ Energy Future Select Committee on Electric Generation Capacity and Environmental Effects Bob Kahn President & CEO February 6, 2008.
NERC’s Long-Term Reliability Assessment (LTRA) Workshop: Natural Gas Dependency in New England Michael I. Henderson ISO New England Inc.
Demand Response: What It Is and Why It’s Important 2007 APPA National Conference San Antonio, Texas June 26, :00 a.m. to Noon Glenn M. Wilson Director.
Operating Reserves and Extended Locational Marginal Pricing 1.
Chicago Advanced Energy Demand Response & CSP Evolution Kellen Bollettino Comverge Inc. 10/23/14.
PJM©2015 DER Participation in the PJM Wholesale Power Markets Mid-Atlantic Renewable Energy Association Susan Covino Senior Consultant, Emerging Markets.
Robert G. Ethier, Ph.D. Director, Market Monitoring May 4, 2005 ISO New England State of the Market Report 2004.
© 2015 McNees Wallace & Nurick LLC OPSI Annual Meeting October 13, 2015 Session 6 – Reliability Pricing Model: Are Further Changes Necessary?
Rate Design Indiana Industrial Energy Consumers, Inc. (INDIEC) Indiana Industrial Energy Consumers, Inc. (INDIEC) presented by Nick Phillips Brubaker &
1 A Conversation about MISO Paul Spicer November 8, 2007.
The Energy Policy Act of 2005 and Its Revisions to PURPA November 11, 2005 Grace D. Soderberg Assistant General Counsel National Association of Regulatory.
Page 1 Schedule Experimental Energy Reduction (EER) updated 2005 Note: This program is available to qualified participants within the EntergyArkansas,
ERCOT Public 1 AS Demand Curves for Real-Time Co-optimization of Energy & Ancillary Services.
OPSI Annual Meeting October 13, Session 6 Reliability Pricing Model: Are Further Changes Necessary? Reluctantly…yes But States should also be.
Demand Response in MISO Markets NASUCA Panel on DR November 12, 2012.
PJM©2013www.pjm.com Demand Side Working Group Loads in SCED Angelo Marcino Real-Time Market Operations – PJM April 14, 2014.
Energy Storage Definitions/Definitions ETWG 18 Feb 2013.
Demand Side Products in PJM Joseph BowringCornell University January 17, 2011.
Floyd Trefny, P.E. Director of Wholesale Market Design Nodal Market Tools to Manage Wind Generation January 29, 2009 Presentation to the Renewables Technology.
Reliability Pricing Model (RPM) Overview Andrew Ott PJM Senior Vice President, Markets.
Federal Energy Regulatory Commission Role Of The Market Monitor: ISO New England Dr. Hung-po Chao Director, Market Monitoring FERC Open Meeting Washington,
03/11/2013 MARKETS COMMITTEE Aleks Mitreski MARKET DEVELOPMENT (413) Overview of Market Rule revisions.
“Demand Response: Completing the Link Between Wholesale and Retail Pricing” Paul Crumrine Director, Regulatory Strategies & Services Institute for Regulatory.
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