SPP Members Reluctantly OK Day-Ahead Change
KANSAS CITY — SPP’s Markets & Operations Policy Committee voted to move the deadline for day-ahead market offers up 90 minutes to 9:30 a.m. CT, following a lengthy discussion about whether the benefits justified the change and its price tag.
The committee approved the recommendation by the Gas Electric Coordination Task Force by voice vote.
Assuming approval by the Board of Directors and the Federal Energy Regulatory Commission, SPP will post day-ahead results at 2 p.m. CT, up from 4 p.m. It also shortens the reoffer period to 45 minutes, with reliability unit commitment (RUC) offers due at 2:45 and results posted by 5:15.
The Tariff changes are a first step in complying with FERC’s Order 809, which moved the timely nomination cycle deadline for gas to 1 p.m. CT from 11:30 a.m. and added a third intraday nomination cycle (RM14-2). The commission ordered RTOs to adjust the posting of their day-ahead energy market and reliability unit commitment process results “sufficiently in advance” of the revised gas cycles, or explain why it is not suitable for their markets.
‘Very Little Gain’
SPP’s northern members voiced their continued opposition to the recommendation, saying the adjustments did little to increase the knowledge of next-day gas prices.
“Most winter gas doesn’t trade until 10 p.m.,” said the Omaha Public Power District’s Troy Via.
“I’m really surprised we went down this route,” said Lincoln Electric System’s Dennis Florom. “We see very little gain. We’re making a lot of adjustments, but we’re not getting the key benefit — a timely nomination. By making this adjustment, we are moving further away from the next operating day.”
