This initiative, formerly known as Import Bid Cost Verification, will explore cost verification measures for intertie offers above $1,000/MWh and explore alternative methodologies for setting market prices when the ISO market must relax constraints under a $2,000/MWh bid cap.
Outcome: This initiative led to tariff revisions and systems updates to accommodate bidding flexibility above the $1000/MWh cap, and apply validation for imported bids. It also ensures sufficient bidding flexibility exists for verified cost-based energy offers above the current $1000/MWh cap, and that the ex-ante and ex-post verification processes are leveraged as needed. FERC accepted tariff changes to raise the bid cap from $1,000 to $2,000, requires cost verification of bids above $1,000, and provides for after-the-cost recovery. This allows for increased bidding flexibility that will better serve the increased load demands of the upcoming summer season.
| Proposal Development | Decision | Implementation | Completed/Closed |
|---|---|---|---|
|
Jan 28, 2021 Second revised draft tariff language posted
Sep 10, 2020 Revised final proposal posted |
Jun 17, 2021 Informational filing (ER21-1192)
Apr 27, 2021 FERC approval (ER21-1192) Feb 22, 2021 Tariff amendment (ER21-1192) Feb 22, 2021 FERC approval (ER21-1164) Feb 18, 2021 Notice of withdrawal (ER19-2757) Feb 17, 2021 Tariff amendment (ER21-1164) Dec 11, 2020 FERC approval (ER19-2757) Oct 01, 2020 Board of Governors approval Sep 21, 2020 FERC approval (ER19-2757) Sep 05, 2019 Tariff amendment (ER19-2757) |
Jun 2021 Deployment
Jun 2021 Activation |
Completed |