Both the PJM and MISO Independent Market Monitors have stated in their respective state of the market reports that real time interchange between PJM and MISO could be accomplished more efficiently, noting that that interface transactions are frequently scheduled in the opposite direction of price incentives. In response, PJM and MISO held joint stakeholder meetings to explore the possibility of developing additional mechanisms that would allow PJM and MISO to more efficiently schedule interchange transactions between the markets. PJM staff is working with PJM stakeholders to:
1) identify alternatives for reducing any observed inefficiency in real time interchange between PJM and MISO and
2) determine whether changes to the PJM governing agreements and the PJM/MISO Joint Operating Agreement should be developed in order to implement any of the identified alternatives.