WASHINGTON (CN) – The nation’s six regional transmission organizations and independent system operators will begin providing the Federal Energy Regulatory Commission with real-time updates of conditions in their local electric power markets, starting July 6.
Under new FERC rules, PJM Interconnection, New York Independent System Operator Inc., Midwest Independent Transmission System Operator Inc., ISO New England Inc., California Independent System Operator Corporation and Southwest Power Pool, Inc. must provide data the FERC says will allow it to detect anti-competitive or manipulative behavior in local markets.
The data is to include physical and virtual offers and bids for electricity market awards, resource outputs, marginal cost estimates, shift factors, financial transmission rights, internal bilateral contracts, uplift, and interchange pricing with other transmission systems.
The FERC authorized creation of regional and independent system operators in the late 1990s in response to the increase in electrical generation facilities operated by speculators not serving a base load like most utilities do.
The regional organizations are responsible for maintaining open access to transmission networks and the orderly delivery of electricity to meet demand on the grid.