PJM Considering Change to Day-Ahead Deadlines in Response to FERC Gas Schedule Order
PJM is considering changing its day-ahead market schedule in response to the Federal Energy Regulatory Commission’s April 16 ruling revising the interstate gas nomination timeline.
Other RTOs’ reactions varied, with ISO-NE saying it has no plans to change its schedule and NYISO looking to respond to its neighbors. MISO stakeholders will discuss the issue Friday, while an SPP task force is expected to make recommendations on any changes by July.
FERC moved the timely nomination cycle deadline for scheduling gas transportation from 11:30 a.m. to 1 p.m. CT (12:30 p.m. to 2 p.m. ET). It also added a third intraday nomination cycle (RM14-2). (See FERC Approves Final Rule on Gas-Electric Coordination.)
In response, PJM is considering moving up its day-ahead schedule by three hours, Adam Keech, senior director of market operations, told the Markets and Reliability Committee on Thursday.
PJM’s day-ahead market results currently are published at 4 p.m. ET, which would not provide enough time for selected generators to purchase gas, Keech said.
PJM is proposing that day-ahead offers close at 9:30 a.m. ET, with results published no later than 1 p.m. That would allow at least one hour for gas generators selected to run the next day to purchase fuel before the timely nomination cycle deadline.