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PJM's Integrated Market Leadership: Enhancing Competition and Reliability in Energy Sector

Explore how PJM Interconnection serves as a pioneering Independent System Operator (ISO) in optimizing regional energy markets and fostering competition. With a robust stakeholder process and membership support, PJM efficiently manages congestion through market-driven mechanisms. Operating over 8,000 miles of transmission lines, PJM supports reliability and economic enhancement projects while addressing SEAMS issues with neighboring regions. The vision of PJM West promises a cohesive market structure with uniform rules, enhancing operational efficiency and promoting collaboration among various entities in the energy landscape.

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PJM's Integrated Market Leadership: Enhancing Competition and Reliability in Energy Sector

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  1. Order 2000 and PJM: A Natural Match Craig Glazer Manager of Regulatory Affairs PJM Interconnection, LLC

  2. First ISO to enter service • Effective stakeholder process • Membership support from all stakeholder groups • Currently operating efficient and robust competitive markets

  3. FERC-approved congestion management mechanisms that rely on market forces • PJM playing key role in implementing retail competition in all PJM states

  4. Independence • Independent Governance and Board Right to Amend PJM Tariff to promote competitive markets and reliability

  5. Scope and Configuration • 180 Members • Market Transactions with a Value of $1.8 B • 120 Million MWHR of Scheduled Energy Transactions • 8,000 Miles of Transmission Lines, 8.7% of US Population and the Largest Energy Market in North America

  6. Scope and Configuration • Active committees addressing SEAMS issues with NY and New England -- • Progress can be tracked at www.isomou.com

  7. Operational authority • Short-term reliability • Planning and expansion • Market monitoring • Open architecture: • No structural impediments • The next step: PJM West

  8. Transmission Enhancement and Innovative Rates Component • Reaffirmation of T.O.’s commitment to build • Commitment to undertake economic enhancement projects • Rate Package: • Rate Moratorium • Cost Recovery Deferral of New Projects • Accelerated Depreciation of New Investments • Risk Adjusted ROE for New Transmission Investments

  9. Rate Package • Rate Moratorium Until 12/31/04 • Deferral of Capital Costs • Accelerated Depreciation of New Investments • Risk-Adjusted ROE • Continuation of Zonal Pricing • Development of Performance Measures

  10. Rate Plan Checks and Balances • PJM RTEP process provides an open, stakeholder process for review of need for transmission projects.

  11. The Next Step • PJM West -- a template for development of a uniform market over a larger region • An open architecture plan for evolution of ownership structures • SEAMS issues addressed through a single market across a wider region: Uniform Rules and Tariff while maintaining Zonal Prices and adjusting for special Regional Needs

  12. Inter-RTO SEAMS Coordination • MOU among New York, New England, PJM and Ontario

  13. Inter-RTO SEAMS Coordination • Operations Working Group • Coordinate Documentation and Terminology • Create Graphic Displays of Emergency Procedures and Coordinate Timelines for Accepting and Implementing Transactions

  14. Inter-RTO SEAMS Coordination • Planning Working Group • Establish Protocols for Coordinated Planning Activities • Facilitate Performance and Review of Joint Planning Studies • Review Analyses of Adequacy and Reliability among the Three ISOs

  15. Inter-RTO SEAMS Coordination • Business Practices Working Group • Identifying and Reviewing Existing and Planned Market Rules for Impacts on all Three ISOs. • Recommending Appropriate Regulatory Filings

  16. Inter-RTO SEAMS Coordination • Information Technology Working Group • Finding New Technology Solutions to Common Interface Issues

  17. Inter-RTO SEAMS Coordination • The Bigger Challenge: Different Markets with Different Rules of the Road • Software Solutions? • Uniform Market Rules Solutions? • Single Market Solutions?

  18. PJM West: The Single Market Concept • One Market • One Tariff • One OASIS • One Congestion Management System

  19. PJM West: Allowance for Regional Differences • Multiple Control Areas • Different Reliability Councils • Alternatives to RAA to Meet NERC “1 Day in 10 Years” Standard

  20. PJM West: Maintenance of Key Market Functions In RTO • Power Market Administration • Congestion Management • Market Monitoring

  21. PJM West: Maintenance of Key Market Functions In RTO • Physical, operational and functional control of facilities • Financial responsibility for assuring firmness of services sold

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