PJM JANUARY 5 MINUTE SETTLEMENTS UPDATE
Over the past two months PJM has held training sessions to get participants ready for 5 min. settlements. Currently, DA and balancing market, as well as, MSRS reports are out in the training environment for testing. Load response, ancillary services reports, and operating reserve reports will be available for testing in February. The aniticipated GO LIVE date is set for April 1, 2018. Adapt2 is able to implement ISO/RTO markets in 6 to 8 weeks. There is still time to get the help you need!
Highlights from the upcoming changes include the following:
I. Revenue Data for Settlements
DA prices will be evenly distributed for each 5 minute interval
RT will use the 5 minute LMP values
Load respons will use hourly curtailment values evenly
Over all there will be a total of 40 new reports and report changes
II. Power Meter
Generators can continue to submit hourly data. If they choose to do this, a scaling procedure will be used for data to be scaled to the 5 minute level or they can submit 5 minute data directly. Once a participant moves to 5 minute they cannot go back to hourly. Lastly, if a participant wants to go to 5 minute data, they need to send an email to the PJM Market Settlements team by 1700 on March 16, 2018 or 3 business days prior to operating day after GO LIVE in April.