As a result of FERC Order ER19-1486 PJM has changed several aspects of their reserve markets. This member impacting change will affect submissions, pricing, and settlements.
These changes include:
Consolidation of Tier 1 and Tier 2 Synchronized Reserve products
Alignment of reserve products in Day-Ahead and Real-Time
Updates have been made to service accounting definitions, billing line item names, the generator deviation calculation, DA Synchronized Reserve Market Clearing Price Credit calculation, Balancing Synchronized Reserve Market Clearing Price Credit calculation, new charge calculations for clearing price and LOC and more. Both the DA monthly scheduling reserve charges and credits have been removed and secondary reserve charges and credits have been added. For a complete list of changes please visit: item-09a1---manual-27-28-29-reserve-price-formation-revisions---presentation.ashx (pjm.com)
Adapt2 will proactively release the submission changes, pricing, and settlement changes in both IIS and K8s releases. For more information on the releases please contact firstname.lastname@example.org