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Proposed Revision Request Detail Help
PRR Life Cycle*********Closed
PRR Details
PRR #
1581
Title Rules of bidding above soft offer cap as result of price formation project
Date Submitted 7/30/2024 8:44 AM
PRR Category C
Priority Emergency
Owner Martin, Michael (CAISO)
Status Closed
Status End Date 10/15/2024 11:59 PM
Related BPM Market Instruments
BPM Section Sections 4, 5 and Appendix P
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Existing Language
 

​See Attached

Proposed Language
 

​See Attached

Reason For Revision
Revise the cap on all Default Energy Bids (DEB) from $1,000/MWh to $2,000/MWh for both DA and RT.   Stakeholders and the ISO agreed that resources subject to the soft offer cap should have the ability to reflect their costs, including valid opportunity costs, in their supply offers when those costs rise above $1,000/MWh. This is targeted effective August 1, 2024. 
 
Click here to view the Recommendation Details for this PRR
BPM PRR Submitter

Martin, Michael (CAISO)
Modified BPM language proposed by the PBM Chnage Management Coordinator

​Approve as submitted

Identification of the authorship of comments

NA
Action

Approve the BPM PRR as submitted

NA
Statement of apparent requirements of the BPM PRR

See attached
Priority and rank for any BPM PRR requiring a CAISO system change

NA
Proposed effective date(s) of the BPM PRR

NA
Other recommended actions

Click here to view the Final Decision for this PRR
Final Decision

Approve as written
Stakeholder Comment

NA

Effective Date

11/1/2024
Action

Adopt the recommendation as originally issued

Announcements
No Announcements has been posted for this PRR.
Impact Analysis
PRR 1581 Impact Analysis Form.doc    
Notes:
Initial Comments
No Initial Comments available for this PRR.
Recommendation Comments
No Recommendation Comments available for this PRR.
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Attachments