The Southwest Power Pool on April 1 said that it has reached a significant milestone in the development of its western day-ahead electricity market by filing its Markets+ tariff with the Federal Energy Regulatory Commission.
Work on the Markets+ tariff began less than a year ago, when 38 entities from states across the West -- including public power utilities -- executed agreements to participate in the development process.
With guidance and support from SPP and oversight from an independent panel of directors, the entities organized into committees and working groups that drafted terms and conditions that will govern the administration of the western region-wide day-ahead electricity market.
Western stakeholders that have participated in writing and approval of the Markets+ tariff applauded the collaborative approach and outcomes of the development process, SPP said.
“The filing of the Markets+ tariff is a significant accomplishment for SPP and western stakeholders. The Markets+ effort has resulted in a market truly for the West, designed by the West, and it benefits from the collective knowledge and expertise of SPP staff and a very broad coalition of western stakeholders,” said Scott Simms, CEO and Executive Director of the Public Power Council located in Portland, Oregon.
“Bonneville Power Administration appreciates the collaborative and transparent stakeholder-driven governance model used by SPP to develop the Markets+ tariff language,” said Rachel Dibble, BPA’s vice president of bulk marketing. “The result is an end product that recognizes the needs and perspectives of all participants and accounts for BPA’s legal obligations.”
“Chelan celebrates the Markets + tariff filing,” said Chelan County PUD General Manager Kirk Hudson. “We view Markets+ as a promising framework for ensuring Chelan can continue to provide its customers with affordable and reliable power, while supporting decarbonization of the electric grid. We thank our partner utilities and each and every stakeholder who contributed through the Markets+ consensus-based governance process. We also thank SPP for guiding us towards this milestone.”
“The filing of the Markets+ tariff with FERC is an important milestone in the member-driven development of a day-ahead market in the West, and its development is a testament to the durable governance structure that was established for Markets+,” said Josh Robertson, Salt River Project’s Director of Energy Market Strategy. “SRP was encouraged that a broad array of utility, trade associates and stakeholder representatives were able to work through numerous complicated and detailed issues to arrive at a market structure that has the potential to benefit SRP’s customers and the West.”
While awaiting FERC’s review of the draft Markets+ tariff, SPP will continue to work with stakeholders to define detailed protocols for the market’s administration, work that is already underway. Markets+ is expected to go live in early 2027.
For more information about SPP’s Markets+ program, visit www.spp.org/marketsplus.
