To comply with FERC Order 825, PJM is incorporating changes to institute the following:
- Settle real-time energy transactions at same interval they are dispatched;
- Settle real-time ancillary service transactions at same interval they are priced, and;
- Settle intertie transactions at same interval they are scheduled.
The initiative was earlier scheduled to go-live on February 1, 2018. However, according to the statement issued by PJM (below) on December 7 (2017), go-live has been moved to April 1, 2018:
PJM will inform the Federal Energy Regulatory Commission on December 8 of PJM’s intention to implement 5-minute settlements in its real-time energy and ancillary services markets on April 1, 2018 and not February 1, 2018.
While the PJM market settlement system changes necessary to support 5-minute settlements are in the final stages of development, the shift in timing is to ensure PJM and the market participants have adequate time to test the new software between PJM and each market participant’s own information platforms and to address any issues prior to implementation.
Documentation is available on the 5-Minute Settlements page of PJM’s website. Additionally, PJM conducted detailed 5-Minute Settlement Education on December 8 of last year as well just this week on January 8 and that training material is available via PJM’s Tech Change Forum.
PCI is pleased to announce the availability of its GenManager Platform with 5-Minute Settlement for use in the mock market ahead of the go-live. In addition to MSRS Report and calculation changes, this also includes modifications to Power Meter and Data Miner 2 tools to support PJM’s 5-Minute initiative. Market Trial results are available in the MSRS Training environment for Day-Ahead and Balancing Market settlements for the operating day of December 15, 2017. The impacted reports for Day-Ahead and Balancing Market settlements include:
- Spot Market Energy Charge Summary
- Energy Market & Congestion Loss Charges Details
- Generator LMP Charge Summary
- Balancing Generator LMP Charges
- Explicit Loss Charges
- Explicit Congestion Charges
- Real-Time Daily Energy Transactions
- Day-Ahead Daily Energy Transactions
Ancillary Services and Operating Reserve Reports in the Training Environment with Production Results will be made available by PJM in February of this year.
PCI is following any subsequent market changes closely to ensure that all updates to PJM MSRS, Power Meter and Data Miner 2 changes are incorporated in our GenManager System to ensure that all the functionality in the new market initiative is made available to all PCI PJM clients. Our development team will continue to post updates here on PCI’s blog (in addition to alerting clients directly via email). Please feel free to bookmark the blog site and/or, click on the RSS icon at the bottom right of any blog page to copy it to your news feed. This will allow you to automatically be alerted when new posts come into PCI’s blog.