PJM Moving on Day-Ahead Schedule Changes
WILMINGTON, Del. — PJM officials said last week they intend to move up the day-ahead energy market schedule despite a lack of consensus among stakeholders.
RTO officials said they believe the change is necessary as a result of the Federal Energy Regulatory Commission’s April order moving the timely nomination cycle deadline for gas to 2 p.m. ET from 12:30 p.m. and adding a third intraday nomination cycle.
The order required grid operators to adjust the posting of their day-ahead energy market and reliability unit commitment processes to a time “sufficiently in advance” of the timely and evening gas nomination cycles to allow generators to obtain gas (or to show cause why such changes are not necessary). Compliance filings are due July 23. (See FERC Approves Final Rule on Gas-Electric Coordination.)
Adrien Ford, director of market evolution, said PJM officials determined that they must change the energy market deadlines to comply with the order.
PJM’s filing will propose moving the deadline for submitting day-ahead offers up 90 minutes to 10:30 a.m. ET from noon. The RTO said it will post day-ahead results by 1:30 p.m., up from the current 4 p.m., as it reduces its clearing time to three hours from four.
The rebid window for the reliability assessment and commitment (RAC) run will be open from 1:30 to 2:15 p.m., up from the current 4 to 6 p.m. (Day-ahead commitments are based on demand bids from load-serving entities; the RAC run adds resources PJM believes may be needed based on PJM’s load forecast.)