RTOs Seek More Time To File Reports on Price Formation At FERC

The FERC jurisdictional RTOs filed a petition for extension of time to file reports on price formation recently ordered by FERC.

FERC had in November directed the RTOs to report on five price formation issues: (1) pricing of fast-start resources; (2) commitments to manage multiple contingencies; (3) look-ahead modeling; (4) uplift allocation; and (5) transparency. FERC has directed that such responses be filed by February 3, 2016

The RTOs sought an extension of time to allow the ISOs and RTOs up to March 4, 2016 to respond to FERC's order

"The nature of the Commission’s requests requires that the ISO and RTOs conduct additional research and analysis. First, the Commission asks for a set of robust responses that not only describe the specific features as they apply to each ISO and RTO but also 'the reasons for RTOs/ISOs choosing a particular design for each process.' While the description of the features is more readily available, many of the market features were adopted a number of years ago through separate Commission proceedings. In some cases, the ISO and RTOs must research and review those proceedings to reflect accurately the policy rational for adopting the feature," the RTOs said

"Second, in several of the questions, the Commission asks that the ISOs and RTOs provide data that require studies or analysis to produce the data beyond what is readily available. For example, the Commission asks that with respect to how the ISO or RTO manages multiple contingencies, the ISO or RTO should provide for each month during a twelve-month period: (1) an estimate of the number of resource commitments made in real-time or day-ahead to address multiple contingencies; and (2) an estimate of the dollar amount of uplift paid to resources committed to address multiple contingencies. The Commission asks that this estimate should be broken down by geographic area, if possible. Similarly, related to how the RTO or ISO allocates real-time energy and ancillary services market uplift to market participants, the Commission asks that for a period of twelve months the ISO or RTO report on the share of day-ahead energy and ancillary services market uplift (in percentage terms) allocated to each category of entities to whom they allocate these amounts. The ISO and RTOs do not all have this data readily available and must collect the data, analyze it, and determine how to best present it to the Commission in a comprehensive manner," the RTOs said

Docket No. AD14-14-000