The Southwest Power Pool Inc. (SPP) has signed memoranda of understanding (MOU) with PJM Interconnection and the Electric Reliability Council of Texas (ERCOT) to share expertise, experience and lessons learned from the development, implementation and operation of their markets. Under the MOU, SPP, ERCOT and PJM will trade site visits and exchange information, according to a statement from SPP.
‘This collaboration with PJM and ERCOT will give us an even deeper understanding of other markets as we continue to build SPP's integrated marketplace,’ says SPP's president and CEO, Nick Brown. ‘We will be able to gain additional efficiencies and savings from this partnership, which will benefit our members and the SPP footprint.’
In addition, SPP's board of directors has approved a software development budget for what the RTO calls its ‘integrated marketplace.’ According to SPP, this integrated marketplace will determine which generating units should run the next day for maximum cost-effectiveness, provide participants with greater access to reserve electricity, improve regional balancing of supply and demand, and facilitate the integration of renewable resources.
The integrated marketplace will also include a day-ahead market with transmission congestion rights, a reliability unit commitment process, a real-time balancing market to replace the current energy imbalance service market and the incorporation of price-based operating reserve procurement.
The integrated marketplace is scheduled to go live in March 2014.