SPP Markets+: Maximizing the Value of Generation Assets

September 26-27, 2024 | Tempe, AZ and Online :: Pacific Time

“In addition to excellent training and provoking new thoughts and ideas, the networking opportunities are great.”  Settlements Manager, Tri-State Generation & Transmission

“The speakers teach in a way that breaks down complex concepts into easy-to-understand, real examples.” Plants General Manager, Colorado Springs Utilities

SPP is the first RTO in the US to operate two separate markets – a full RTO market (89 GW) in the Eastern Interconnection called SPP Integrated Marketplace (SPP IM) that was launched in 2014, and a real-time energy-imbalance market (13 GW) called Western Energy Imbalance Service (WEIS) that was launched in 2021 in the Western Interconnection. SPP is currently working with participants in the West to form two additional markets – a full RTO West market called SPP RTO West in addition to a day-ahead and real-time market called SPP Markets+, which will be launched in 2027.

This course covers the new SPP Markets+ and how participants in the West can maximize the value of their assets (resources, loads, bilateral contracts) in SPP Markets+. It will be an excellent workshop for utilities and other market participants weighing whether to join the new SPP Markets+ and those who have already determined to join.

The EUCI course helps Western participants maximize asset value in the new SPP Markets+. Ideal for utilities and market participants deciding or committed to joining.

Key Learning Outcomes

• Migration Preparation:
  • Prepare for migration from WEIS to SPP RTO West or Markets+.
  • Optimize resources for day-ahead (DA) and real-time (RT) markets.
• Bidding Strategies:
  • Develop effective DA and RT bidding for renewables (wind, solar).
  • Optimize Energy Storage Resources (ESR) in SPP Markets+.
• Settlement and Profitability:
  • Assess key settlement charges and make-whole payments.
  • Compute profit and loss metrics to improve bidding strategies.
• Operational Efficiency:
  • Minimize load-serving costs.
  • Identify and correct operational problems using real-time feedback.

Front office, back office and settlement staff SPP EIS and interested SPP Markets+ participants will want to register early for this EUCI training in the Phoenix area, as in-person space is limited.

Learning Outcomes  

Attendees at this course will:  

• Evaluate how current SPP participants in the West should prepare to migrate from WEIS to RTO West or Markets+
• Assess whether their resources are properly optimized in the new day-ahead and real-time markets of SPP Markets+
• Identify a sound DA & RT bidding strategy for renewable resources (Wind & Solar) in SPP Markets+
• Examine how to optimize Energy Storage Resources (ESR) in SPP Markets+
• Review key settlement charges for assets (Resources, Loads, Bilateral Transactions, and Virtual Transactions) offered in SPP Markets+
• Define the rules SPP will use to compute DA and RUC make-whole payments for resources and allocate charges to participants who cause deviations between DA and RT markets
• Illustrate what method to use to estimate SPP settlement charges to support month-end closing
• Evaluate settlement results to compute profit & loss metrics and provide feedback to traders on bidding strategies
• Recognize how to use profit & loss metrics for operational feedback and what real-time desk procedures are needed to identify and correct operational problems
• Determine what IT infrastructure should be built to automate the bid-to-bill process

Thursday, September 26, 2024 : Pacific Time

8:30 – 9:00 a.m. :: Overview & Introductions

9:00 – 10:30 a.m. :: Overview on Market Operations in SPP Markets+

• Current SPP Markets (Integrated Marketplace, WEIS)
• New SPP market initiatives for the west (RTO West, Markets+)
• What are key differences between SPP RTO West and SPP Markets+?
• SPP timeline for implementing Markets+
• Potential benefits of SPP Markets+ for power organizations operating in the west
• Understanding SPP full network model and commercial model
• Reviewing DA and RT bidding workflow for SPP Markets+ participants
• Will SPP Markets+ support virtual bids and offers?
• Understanding DA & RT congestion costs
• How do participants hedge against congestion costs in SPP Markets+?
• Bid-to-Bill timeline and challenges
• Using WRAP to insure resource adequacy

10:30 – 10:45 a.m. :: Morning Break

10:45 a.m. – 12:15 p.m. :: Uses of Nodal Locational Marginal Prices in Bidding & Settlement

• Using full network model to compute nodal locational marginal prices
• How are LMPs computed?
• Understanding three components of LMPs
  • Energy
  • Loss
  • Congestion
• Understanding impacts of flowgates on congestion
• Why do we have negative LMPs in SPP Market?
• What is the impact of negative LMPs on units and loads?
• Explaining LMP Signatures
• Can you forecast DA & RT LMPs?

12:15 – 1:00 p.m. :: Lunch Break

1:00 – 2:45 p.m. :: Bid-to-Bill Workflow for Generating Resources

• Understanding 3-part energy offers for resources
• Should resources be offered as must run or economic in DA Market?
• Examples illustrating DA and RT settlement for resources
• Market principles behind make-whole payments and charges
• Computing DA make-whole payments for resources
• Who will pay DA & RUC make-whole charges?
• Computing SPP RUC penalties for resources that deviate from their DA schedule or do not follow SPP 5-min dispatch Instructions
• How are ancillary-service requirements modelled in SPP Markets+?
• Operating renewable resources (wind & solar) in SPP Markets+
• Optimizing energy storage resources in SPP Markets+

2:45 – 3:00 p.m. :: Afternoon Break

3:00 – 5:00 p.m. :: Using Profit & Loss Metrics to Provide Feedback to Front-Office and Plant Personnel

• Using settlement results to compute DA and DART profits & losses (P&L) for resources offered in SPP Markets+
• Key factors influencing profits & losses
• Computing P&L gains and leakages for resources
• Using profit & loss metrics to provide feedback to traders on effectiveness of day-ahead and real-time bidding strategies
• Using P&L results to provide feedback to plant managers on thermal plant performance
• Using P&L results to provide feedback on VER (solar & wind) performance

5:00 p.m. :: Course Adjourns for Day

Friday, September 26, 2024 : Pacific Time

8:30 – 10:15 a.m. :: Bid-to-Bill Workflow for Loads & Transactions

• Validating load meter data
• Computing DA & RT charges and credits for loads
• When do loads have to pay DA & RUC make-whole charges?
• What are the key components in revenue-neutrality charge?
• Does SPP Markets+ support financial and physical bilateral transactions?
• Using virtual transactions for hedging and speculative purposes
• Can you make money with virtual transactions?
• Understanding loss rebates
• What can you do to minimize your total costs for serving loads in SPP Markets+?

10:15 – 10:30 a.m. :: Morning Break

10:30 a.m. – 12:00 p.m. :: Running Shadow Settlement to Validate SPP Invoices

• Understanding SPP settlement statement and invoice timeline
• What will be the new SPP charge codes in SPP Markets+?
• Validating meter data for resources and loads
• Pros and cons of submitting hourly vs. 5-minute meter data for resources
• Why perform shadow settlement?

12:00 – 12:45 p.m. :: Lunch Break

12:45 – 2:30 p.m. :: Running Shadow Settlement to Validate SPP Invoices (Continued)

• What data is needed to validate SPP settlement statements and invoices in SPP Markets+?
• Reviewing key settlement workflows
• What will be the most common causes for settlement disputes?
• Which back-up information do you need to submit to SPP to support disputes?

2:30 – 2:45 p.m. :: Afternoon Break

2:45 – 4:00 p.m. :: Implementation Challenges for SPP Markets+

• How will balancing authorities (BA) revise their OATT to participate in SPP Markets+?
• Who will update flowgate limits in SPP Markets – SPP or BAs?
• How will SPP handle GHG constraints?
• How will SPP work with CAISO to address seams constraints?
• How will SPP use WRAP to insure resource adequacy?

Round-Table Discussion

4:00 p.m. :: Course Adjournment

Khai Le, Senior Vice President, PCI Energy Solutions

Over the past 45 years, Khai Le has conducted more than 750 seminars on market-based operations, trading and bidding strategies, portfolio optimization, and shadow settlement for utilities and ISOs worldwide. He is currently working with market participants in RTO and bilateral markets to deploy the PCI Suite to automate their bid-to-bill, portfolio-optimization, ETRM, and BA-operations workflows.  He has authored some 100 technical papers on unit commitment, hydro-thermal coordination, emission dispatch, optimization of ancillary services, post analysis, and short-term planning.  Five of his papers received prize awards.  Mr. Le received his BS from Harvey Mudd College and his MS from Carnegie Mellon University.  He is a Fellow of the IEEE and a Registered Professional Engineer in Pennsylvania.

Justin Shearer, Vice President, PCI Energy Solutions

Justin Shearer actively participates in all phases of solution and business development, deployment, and consulting for market participants in North America. Justin has been deeply involved with power markets in the West – CAISO WEIM and SPP WEIS. Justin received both his BA and MBA from the University of Oklahoma.

SRP PERA Training & Conference Center
1 East Continental Drive
Tempe, AZ 85281

 

This course is open to utilities, power and energy industry operating companies (see above), consumer groups, project developers and regulators only.  Registrations from software vendors and others that do not meet these criteria – or that may be construed as a competitive conflict – will be evaluated on a case-by-case basis and may not qualify for attendance.  Any determination as to the fulfillment of a registration to attend this program shall reside solely with EUCI.  Questions regarding the application of this restriction can be addressed to [email protected].

REGISTER NOW FOR THIS EVENT:

SPP Markets+: Maximizing the Value of Generation Assets

September 26-27, 2024 | Tempe, AZ

Your registration may be transferred to a member of your organization up to 24 hours in advance of the event. Cancellations must be received on or before August 23, 2024 in order to be refunded and will be subject to a US $195.00 processing fee per registrant. No refunds will be made after this date. Cancellations received after this date will create a credit of the tuition (less processing fee) good toward any other EUCI event. This credit will be good for six months from the cancellation date. In the event of non-attendance, all registration fees will be forfeited. In case of conference cancellation, EUCIs liability is limited to refund of the event registration fee only. For more information regarding administrative policies, such as complaints and refunds, please contact our offices at 303-770-8800

Credits

EUCI is accredited by the International Accreditors for Continuing Education and Training (IACET) and offers IACET CEUs for its learning events that comply with the ANSI/IACET Continuing Education and Training Standard. IACET is recognized internationally as a standard development organization and accrediting body that promotes quality of continuing education and training.

EUCI is authorized by IACET to offer 1.4 CEUs for this event.

Verify our IACET accreditation

Who recognizes IACET Credits?

Instructional Methods  

This program will use PowerPoint presentations, case studies and group discussions. 

Requirements for a Successful Completion of Program  

Participants must log in each day and be in attendance for the entirety of the course to be eligible for continuing education credit. 

Upon successful completion of this event, program participants interested in receiving CPE credits will receive a certificate of completion.

Course CPE Credits: 16.0
There is no prerequisite for this Course.
Program field of study: Specialized Knowledge
Program Level: Basic
Delivery Method: Group Internet Based
Advanced Preparation: None

EUCI is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org

Who Should Attend this Seminar?

• Front-Office personnel who would like to maximize profits for their assets in the SPP markets (Integrated Marketplace, RTO West, and Market+)
• Back-office employees who need to understand the settlement rules for the SPP markets (Integrated Marketplace, RTO West, and Market+)
• Power plant managers who would like to understand the impact of settlement on their plant profitability
• IT personnel who need to build the IT infrastructure to support the bid-to-bill workflow
• New SPP market members who need to prepare for the new RTO West and Market+