Synchronized Reserve
OA Schedules:
1-3.2.3A PDF
1-3.3.5 PDF
Tariff Schedule:
5 PDF
Manual 28, Section 6 WEB
|
PJM conducts synchronized reserve markets to ensure the capability of synchronized generation and demand resources that can be converted fully into energy within ten minutes.
Credits: For each five minute interval, generators that increase output and demand resources that decrease consumption in response to a synchronized reserve event at times when the applicable reserve zone or sub-zone Non-Synchronized Reserve Clearing Price is zero receive Tier 1 credits equal to response MWs times one-twelfth of the synchronized reserve energy premium. At times when the non-synchronized reserve clearing price is non-zero, resources receive Tier 1 credits equal to the lesser of the five minute actual response MWs or the five minute estimated Tier 1 MWs times one-twelfth of the applicable reserve zone’s Synchronized Reserve Market Clearing Price. For each five minute interval, resources receive Tier 2 credits for pool- and self-scheduled synchronized reserve priced at one-twelfth of the applicable reserve zone’s Synchronized Reserve Market Clearing Price. Additional credits provided to pool-scheduled synchronized reserve resources for any portion of synchronized reserve offer plus opportunity cost, energy use cost, and start-up cost not recovered via Synchronized Reserve Market Clearing Price revenues.
Charges: PJM LSEs that are not part of an agreement to share reserves with external entities have an hourly synchronized reserve obligation equal to their real-time load (without losses) ratio share of their reserve market’s total assignments (adjusted for any bilateral synchronized reserve transactions). Tier 1 charges for each participant equal their ratio share of the total Tier 1 credits based on the amount of Tier 1 synchronized reserve applied to their obligation. Tier 2 hourly charges are allocated based on adjusted obligation ratio shares times the sum of total PJM Synchronized Reserve Tier 2 credits awarded for each hour of the Operating Day. In addition, Synchronized Reserve lost opportunity charges are calculated each hour by allocating total PJM Synchronized Reserve lost opportunity credits for the hour to market participants that do not meet their hourly obligation, in proportion to their Synchronized Reserve purchases for the hour.
Reconciliation Charges: Retail load schedules with reconciliation data (in kWh) provided by the applicable EDC are reconciled on an hourly basis using the applicable reserve zone’s $/MWh billing determinant calculated as the total applicable reserve zone Synchronized Reserve charges divided by the total MWh of PJM real-time load served in the that market on a two-month billing lag.
|
Synchronized Reserve Credit Summary
Synchronized Reserve Tier 1 Credits
Synchronized Reserve Tier 2 Credits
Synchronized Reserve Obligation Details
Synchronized Reserve Tier 1 Charge Summary
Synchronized Reserve Tier 2 Charge Summary
Load Response Tier 1 Credits
Load Response Tier 2 Credits
Synchronized Reserve Load Recon Charge Summary
|
Non-Synchronized Reserve
OA Schedules:
1-3.2.3A.001 PDF
1-3.3.5A PDF
Manual 28, Section 7 WEB
|
PJM conducts non-synchronized reserve markets to ensure the capability of generation off-line and available to provide energy within ten minutes as necessary to meet the primary reserve requirement.
Credits: Five minute interval credits are provided to generation resources supplying non-synchronized reserve at one-twelfth of the applicable Non-Synchronized Reserve Clearing Price. Additional credits are provided to non-synchronized reserve resources for each five minute interval for any portion of non-synchronized reserve opportunity costs not recovered via Non-Synchronized Reserve Market Clearing Price revenues.
Charges: PJM LSEs that are not part of an agreement to share reserves with external entities have an hourly non-synchronized reserve obligation equal to their real-time load (without losses) ratio share of their reserve market’s total non-synchronized reserve supplied (adjusted for any bilateral non-synchronized reserve transactions). Hourly charges are allocated based on obligation ratio shares times the sum of total PJM Non-Synchronized Reserve credits awarded for each hour of the Operating Day. Additional charges are assessed for any unrecovered cost payments that PJM provides to non-synchronized reserve suppliers based on adjusted obligation ratio shares.
Reconciliation Charges: Retail load schedules with reconciliation data (in kWh) provided by the applicable EDC are reconciled on an hourly basis using the applicable reserve zone’s $/MWh billing determinant calculated as the total applicable reserve zone Non-Synchronized Reserve charges divided by the total MWh of PJM real-time load served in the that market on a two-month billing lag.
|
Non-Synchronized Reserve Summary
Non-Synchronized Reserve Credits
Non-Synchronized Reserve Load Recon Charge Summary
|
Day-ahead Scheduling Reserve
OA Schedule:
1-3.2.3A.01 PDF
Tariff Schedule:
6 PDF
Manual 28, Section 19 WEB
|
PJM conducts day-ahead scheduling reserve markets to ensure the capability of generation and demand resources to meet reserve requirements on a forward basis.
Credits: Daily credits provided to eligible generator and demand response resources cleared day-ahead based on their cleared MWh of day-ahead scheduling reserve times the day-ahead scheduling reserve clearing price.
Charges: PJM LSEs have an hourly day-ahead scheduling reserve obligation equal to their real-time load (without losses) ratio share of the market’s total assignments (adjusted for any bilateral day-ahead scheduling reserve transactions). Total hourly cost of day-ahead scheduling reserve is allocated based on obligation ratio shares.
Reconciliation Charges: Retail load schedules with reconciliation data (in kWh) provided by the applicable EDC are reconciled on an hourly basis using the $/MWh billing determinant calculated as the total charges divided by the total MWh of PJM real-time load on a two-month billing lag.
|
Day-ahead Scheduling
Reserve Summary
Day-ahead Scheduling Reserve Credits
Day-ahead Scheduling Reserve Load Recon Charge Summary
|
Operating Reserve
OA Schedules:
1-3.2.3 PDF
1-3.3.3 PDF
Tariff Schedule:
6 PDF
Manual 28, Sections 5 & 11 WEB
|
To ensure adequate operating reserve and for spot market support, pool-scheduled generation and demand resources and that operate as requested by PJM are guaranteed to fully recover their daily offer amounts.
Day-ahead Credits: Daily credits provided to pool-scheduled generators, demand response, and transactions cleared day-ahead for any portion of their offer amount in excess of their scheduled MWh times day-ahead bus LMP.
Balancing Credits: Daily credits for specified operating period segments are provided to eligible pool-scheduled generators, demand response, and import transactions in real-time, and will be evaluated on a five minute interval basis for any portion of their offer amount in excess of: (1) scheduled MWh times day-ahead bus LMP; (2) MW deviation from day-ahead schedule times one-twelfth of real-time bus LMP; (3) any day-ahead operating reserve credits; (4) any day-ahead scheduling reserve market revenues in excess of offer plus opportunity cost; (5) any synchronized reserve market revenues in excess of offer plus opportunity, energy use, and startup costs; (6) any non-synchronized reserve market revenues in excess of opportunity costs and (7) any applicable reactive services credits. Cancellation credits are based on actual costs submitted to PJM Market Settlements. Credits for lost opportunity costs are also evaluated on a five minute interval basis and are provided to generators reduced or suspended by PJM for reliability purposes.
Day-ahead Charges: Total daily cost of operating reserve in the day-ahead market, excluding the total cost for resources scheduled to provide Black Start Service, Reactive Service or transfer interface control, is allocated based on day-ahead load (including cleared demand, demand response, and decrement bids) plus exports ratio shares.
Balancing Charges: Total daily cost of operating reserve in the balancing market related to resources identified as Credits for Deviations is allocated based on regional shares of five minute interval real-time locational deviations from the following day-ahead scheduled quantities of: (1) cleared generation offers (only for generating units not following PJM dispatch instructions and not assessed deviations based on their real-time desired MWs); (2) cleared increment offers and purchase transactions; and (3) cleared demand bids, decrement bids, and sale transactions. In situations where five minute interval data has not been provided (including all day-ahead data), the hourly MW value provided will be scaled or flat-profiled across each of the applicable five minute intervals of the hour in order to allow for the calculation of MW deviations on a five minute interval basis. Total daily cost of operating reserve in the balancing market related to resources identified as Credits for Reliability is allocated based on regional shares of real-time load (without losses) plus exports.
Reconciliation Charges: Retail load schedules with reconciliation data (in kWh) provided by the applicable EDC are reconciled on an daily basis using a $/MWh billing determinant calculated as the total charges allocated to real-time load plus exports divided by the total MWh of PJM real-time load plus exports on a two-month billing lag.
|
Operating Reserve Charge Summary
Balancing Operating Reserve Generator Credit Details
Operating Reserve Lost Opportunity Cost Credits
Operating Reserve Transaction Credits
Operating Reserve Generator Deviations
Operating Reserve Generator Deviations – 5 min
Operating Reserve Deviation Summary
Operating Reserve Deviation summary – 5 min
Operating Reserve Transaction Credits
Balancing Operating Reserves for Load Response Credit
Operating Reserve for Load Response Deviation Charge Summary
Operating Reserve for Load Response Charge Allocations
Regional Balancing Operating Reserve Charge Summary
Balancing Operating Reserve Load Recon Charge Summary
CT Lost Opportunity Cost Forfeiture
|
Synchronous Condensing
OA Schedule:
1-3.2.3 PDF
Manual 28, Section 5 WEB
|
Credits: Daily credits for condensing and energy use costs are calculated on a five minute interval basis and are provided to eligible synchronous condensers dispatched by PJM for purposes other than synchronized reserve, post-contingency, or reactive services.
Charges: Total daily cost of synchronous condensing (not for synchronized reserve or reactive services) is allocated based on real-time load (without losses) plus export ratio shares.
Reconciliation Charges: Retail load schedules with reconciliation data (in kWh) provided by the applicable EDC are reconciled on an hourly basis using a $/MWh billing determinant calculated as the total charges divided by the total MWh of PJM real-time load plus exports on a two-month billing lag.
|
Synchronous Condensing Credits
Synchronous Condensing Charge Summary
Synchronous Condensing Load Recon Charge Summary
|