FERC Order No. 764 market changes
Through this stakeholder initiative, the ISO proposes a new 15-minute scheduling option in the real-time market to comply with FERC Order No. 764, which requires us to offer intra-hourly transmission scheduling. We will also explore implementing financially binding 15-minute schedule settlements, which will reduce barriers to integration of variable energy resources and address other identified market inefficiencies.
Outcome
On May 1, 2014 the ISO implemented a new 15-minute market with financially binding energy and ancillary services awards for internal generators, imports and exports and participating loads to comply with FERC Order No. 764, which required the ISO to offer intra-hour transmission scheduling. These market changes reduced barriers to integrating variable energy resources and addressed known market inefficiencies. Implementation of convergence bidding on the interties will occur on May 1, 2015.