The Federal Energy Regulatory Commission (FERC) has taken another step in its continuing effort to improve price formation to support efficient investments in wholesale power markets with a proposal for regional grid operators to adopt market rules that meet certain requirements when pricing fast-start resources.
A fast-start resource is defined in FERC's Notice of Proposed Rulemaking as one that can start up in 10 minutes or less, has a minimum run time of one hour or less, and has submitted an economic energy offer to a market run by a regional transmission organization or independent system operator. Fast-start resources typically are committed in real time, very close to the interval when needed, and can respond quickly to unforeseen system needs. However, without fast-start pricing, some are ineligible to set prices due to inflexible operating limits.
For more information, visit www.Ferc.gov or call (202) 502-6088.
