FERC Aproves SPP's WEIS Tariff
- Jan 4, 2021 3:51 pm GMT
Over a year after planning began for Southwest Power Pool’s (SPP) Western Energy Imbalance Services (WEIS), FERC has just approved the operator’s tariff for the program. This moves the real-time balancing market one big step closer to the intended February launch.
At launch, the market will consist of eight different utilities: the WAPA Colorado River Storage Project, WAPA Rocky Mountain Region, and WAPA Upper Great Plains Region, Basin Electric Power Cooperative, Tri-State Generation and Transmission Association, Wyoming Municipal Power Agency, Deseret Generation & Transmission Cooperative, and the Municipal Energy Agency of Nebraska.
If everything goes to plan, the real-time balancing market should provide similar benefits to the one SPP operated between 2007-14: More flexible load management thanks to pooled resources, which in turn will save money. That first balancing market saved participants around $100 million overall. Given the different circumstances of today, however, it’s hard to know what kind of net monetary benefit a similar market will deliver.
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