Real-Time and Operating Reserves Market 

MISO’s Real-Time and Operating Reserves Market continuously balances supply and demand at the least-possible cost while also recognizing current system conditions. MISO uses the SCED algorithm that simultaneously:

  • Balance injections and withdrawals
  • Meet operating reserve requirements
  • Manage congestion of the transmission system
  • Produce real-time Locational Marginal Prices (LMPs)  and Market Clearing Prices (MCPs)

MISO utilizes an independent third-party, an Independent Market Monitor (IMM), to monitor and mitigate offers in the Real-Time Energy and Operating Reserves Market.

Market Participant Rules

Rules for Real-Time Market Participants fall into two areas:

Resource Offers (Energy, Regulating Reserve and Contingency Reserve)

  • Must be submitted hourly at registered location of resource
  • Must occur 30 minutes prior to the Operating Hour (OH)
  • Must include notification of changes in availability
  • Must include notification of a desire to deviate

Physical Schedules

  • Must start on 15 minute intervals from the top of the hour (e.g. 0000, 0015, 0030 and 0045)
  • Must be made no later than 20 minutes prior to the requested start time
  • Adjustments in Purchasing-Selling Entities must be submitted no later than 20 minutes before the start of the scheduled change

Stakeholder Participation and Information

Interested Parties have several vehicles available for getting additional information or actively participating in the MISO stakeholder process. Please visit the Stateholder Center to learn about the committee structure and governance process

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