FERC Order 831 Compliance Initiative: Deployment Effective for Trade Date 3/20/21
The California ISO is deploying the functionality of its Federal Energy Regulatory Commission (FERC) Order 831 Compliance initiative, effective for trade date March 20, 2021, for both Real-Time and Day-Ahead Markets of March 20.
The ISO is implementing its FERC Order 831 Compliance functionality, which include the following changes:
Hard Energy Bid Cap raised to $2,000/MWh
Soft Energy Bid Cap set at $1,000/MWh
Minimum Load Cost Hard Cap set at $2,000/MWh
Market Penalty Parameters scaled up as applicable based on the $2,000/MWh Hard Energy Bid Cap
After-the-fact cost recovery for eligible energy bids above the Hard Energy Bid Cap and eligible minimum load bids above the Minimum Load Cost Hard Cap, subject to approval from the ISO
Scheduling Coordinators may begin to submit energy and minimum load bids in the Scheduling Infrastructure Business Rules (SIBR) up to the respective $2,000/MWh hard caps, subject to existing bid validation rules, upon implementation of this functionality. Additional information on bid validation rules for specific resource types and changes to Market Penalty Parameters are detailed in revised versions of the Market Instruments Business Practice Manual (BPM) and Market Operations BPM respectively. The Proposed Revision Requests (PRRs) detailing these edits will be available prior to the project activation date on the BPM Change Management website at https://bpmcm.caiso.com/Pages/BPMLibrary.aspx.
Please refer to the links below for more information on FERC Order 831 Compliance functionality.