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Improve Emergency Pricing IR077

Last Modified - 11/17/2021
2020 2021 2022
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
F
E
CD
FERC
FERC
B
B
I
V

Improve Emergency Pricing by establishing an efficient default floor and fixing the Sub-Regional Power Balance Constraint (SRPBC) flow calculation.

This issue was submitted by Potomac Economics, MISO's Independent Market Monitor (IMM) and is synonymous with State of the Market (SOM) recommendations 2018-1.

Phase

B

Entities

Next Update

03/01/2022

Origin

IM SOM Recommendation

Status

Active

MISO Roadmap

Updates

07/20/2021

The Commission issued an order, granting the waiver request for temporary suspension until September 1, 2021 of the effective date for the emergency pricing Tariff provisions accepted by the Commission’s April 30 Order with an effective date of June 1, 2021.

05/27/2021

MISO submitted a petition for limited waiver requesting a temporary suspension of the effectiveness of the Tariff revisions accepted in the April 30 Order regarding the emergency pricing construct. MISO is requesting a new effective date of September 1, 2021.

05/13/2021

MISO has published a Scarcity Pricing Evaluation Paper. The paper is posted with May MSC meeting materials and on the Issue Tracking tool under IR071. The Scarcity Pricing Evaluation paper provides detailed analysis of pricing issues and enhancements. During the May MSC MISO discussed that Operating Reserve Demand Curve requires alignment with recent changes to Emergency Pricing and the implementation of Short-Term Reserves. MISO plans to file to disable Offline Fast Start Pricing until system issues can be addressed(and IMM recommendation).

04/30/2021

The Commission issued an order accepting the proposed Tariff revisions to implement changes to MISO’s Emergency Pricing Construct, effective June 1, 2021, as requested.

04/15/2021

MISO amended the filing on February 12, 2021. FERC did not issue an order as requested by April 1, 2021. Implementation is anticipated in August 2021 with revised effective date.

12/21/2020

MISO submitted proposed revisions to its Tariff necessary to implement changes to MISO’s Emergency Pricing Construct.

12/10/2020

Tariff redline and Conceptual Design documents posted on issue page.

12/03/2020

Stakeholder Feedback was reviewed and final design details were presented at the MSC. Tariff Redlines and Conceptual Design will be posted soon. FERC filing is anticipated by end of year.

11/05/2020

Presented the final design details and draft Tariff redlines. A FERC filing is anticipated mid December 2020. Stakeholder Feedback requested on Tariff redlines.

10/08/2020

Continued discussion on design details and benefits of emergency pricing enhancements. Final proposals and Emergency Pricing Conceptual Design is to be presented at November MSC. FERC filing is anticipated by December 2020.

09/10/2020

Began discussion on key design details of emergency pricing enhancements. Three proposed enhancements were presented. Feedback was requested. Assessment of uplift impacts and cost/benefit analysis to be presented at the October Market Subcommittee. FERC filing anticipated in December 2020.

08/06/2020

Discussed proposal based on feedback at the MSC and moved to Conceptual Design. Evaluation Whitepaper expected to post in September. More discussion at the September MSC. A filing is anticipated December 2020.

06/11/2020

Discussed Emergency Pricing analysis and enhancement proposals at the Market Subcommittee. Stakeholder feedback requested on recommendations. Next update at August Market Subcommittee.

06/09/2020

Updated priority to High based on the 2020 Integrated Roadmap cycle. Added Concept Design and FERC filing phases to the timeline with anticipated FERC filing in December 2020.

04/09/2020

Presented at the Market Subcommittee. Stakeholder feedback and MISO's responses was reviewed. Next update at the June Market Subcommittee.

03/05/2020

Presentation to the Market Subcommittee. Stakeholder feedback requested and will be reviewed at the next presentation.

11/04/2019

Added to the Active Work plan and given a Low priority as part of the 2019 Integrated Roadmap prioritization. Frame and Evaluate phases added to the first half of 2020 before detailing a complete development schedule.

05/08/2019

New Integrated Roadmap candidate.