PJM Fast Start Resources

According to PJM, implemented in 2017, FERC Order 831 required PJM to verify incremental offers greater than $1000. For Fast Start, FERC directed PJM to enhance this process to include the incremental offer plus amortized commitment costs (startup and no-load costs for gen, shutdown cost for ELR) - now known as the “Composite Offer”. Fast Start resources with a Composite Offer over $1,000/MWh, as of Wednesday, September 1st, are screened and validated each time a variable affecting the Composite Offer calculation is changed. As a result of the Fast Start Offer verification change, there are three new MSRS download reports related to Fast Start that have effective trade dates for September 1st and forward. Adapt2 has ensured appropriate clients are ready for the changes.

New MSRS reports include:

1. Day-ahead Double Counting Operating Reserve Credit Offset

2. Dispatch Differential Lost Opportunity Cost Charge Summary

3. Dispatch Differential Lost Opportunity Cost Credits

Updates were made to existing MSRS reports:

1. Generator Credit Summary

Added new column – Dispatch Differential LOC Credit (2375.26)

2. Generator Portfolio Credit Summary

Added new column – Dispatch Differential LOC Credit (2375.06)

3. Operating Reserve Charge Summary

Added new column – Total Daily DDLOC Charge (1375.72)

There were Fast Start postings to Data Miner that went into production on Wednesday, September 1st, also. PJM changed a few download reports to include Fast Start pricing. As part of the Fast Start pricing implementation, the following data publications/feeds in Data Miner will be updated to post Fast Start pricing data beginning on the Market Day of September 1st:

1. Day-Ahead Hourly LMPs

2. Real-Time Five Minute LMPs

3. Real-Time Hourly LMPs

4. Ancillary Services Five Minute LMPs

5. Ancillary Service LMPs

6. Day-Ahead Marginal Value

7. Real-Time Marginal Value

8. Day-Ahead Transmission Constraints

9. Operations Summary - Forecast Transfer Limits

In addition, the following feeds in Data Miner train environment will not be updated with daily pricing data beginning September 1st:

1. Fast Start Real-Time Five Minute LMPs

2. Fast Start Ancillary Services Five Minute LMPs

Thank you for allowing Adapt2 to bring your organization the most up-to-date market news.

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