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Published byMarlee Philpott
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PJM©2014www.pjm.com Winter 2014 Overview & Recent and Upcoming Market Rule Changes Adam Keech Director, Market Operations
PJM© Who Are We? 6/03/20142 PJM© 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© Polar Vortex Source: University of Illinois at Urbana-Champaign
PJM© Maximum Winter Peak Demands
PJM© January 7 Load Compared to Typical January Day
PJM© Interchange – January 7
PJM© Real-Time and Day-Ahead Prices – January 7
PJM© Minimum Temperatures – January 2014 Columbus, Philadelphia, Chicago and Richmond
PJM© Timeline – Operations
PJM© Holiday Considerations
PJM© Extraordinary Fuel Price Relationships
PJM© Gas Prices (Market East) – January 2014
PJM© PJM Load-Weighted LMPs – January 2014
PJM© 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© 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© 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© Prior to Winter 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© 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© Questions Cold Weather Report: operational-events-and-market-impacts-during-the-jan-2014-cold-weather- events.ashx
03/11/2013 MARKETS COMMITTEE Aleks Mitreski MARKET DEVELOPMENT (413) Overview of Market Rule revisions.
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0 Michael Robinson Midwest ISO 3 June 2008 Midwest ISO Markets: Demand Response & Resource Adequacy.
1 WECC/AESO Membership and Coordinating Operating Agreement WECC Board of Directors Meeting December 2007 Diana Pommen Director Interjurisdictional Affairs.
Demand Response: What Is It? John E. Shelk President & CEO, EPSA Harvard Electricity Policy Group Calgary, Alberta – June 13, 2013.
Efficient Dispatch Toolkit Proposal Stephen Beuning Xcel Energy, Director of Market Operations 3/11/10.
Reliable Power Reliable Markets Reliable People Reliable Power Reliable Markets Reliable People Wind Integration in Alberta: M arket & Operational Framework.
Definition of Firm Energy and Interruptible Transmission Two Issues Causing Problems for Business in the Western Interconnection.
BAL-002-WECC-1 Contingency Reserves David Lemmons BAL-002 Drafting Team Chair March 6, 2008 Albuquerque, NM.
Achieving Price-Responsive Demand in New England Henry Yoshimura Director, Demand Resource Strategy ISO New England National Town Meeting on Demand Response.
The 3rd Electric Generation Supplier (EGS) Conference Wednesday, May 16, 2012 ArtsQuest – Steel Stacks 101 Founders Way Bethlehem, Pennsylvania
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