Ever wonder what a RTO power market design looks like? Here is one view, in the form of the 106-page “Mid Level Description” of the Southwest Power Pool market currently under development. (Note that the link is to a 1.4 MB zip file which contains the “SPP Future Markets Design/Energy and Operating Reserve Markets and Transmission Congestion Rights Markets/Mid-Level Description,” and an accompanying memo from the SPP Market Working Group which describes a bit of the process that went into producing the document.)
For a taste of the document, here’s a paragraph on “Block Demand Response Resources” (BDR) from page 3.9:
In the RTBM, if the BDR is committed and dispatched in the DA Market or RUC, the BDR Minimum Economic Capacity Operating Limit will be increased to match the dispatched amount and only Spinning Reserve will be allowed to clear above minimum output if the BDR is a Spin Qualified Resource. Spinning Reserve clearing will be based upon submitted Ramp-Rate Up curve for BDR, the submitted Spinning Reserve Offer and the BDR’s Maximum Economic Capacity Operating Limit.
Based on a quick, haphazard scan through the document, the paragraph is of approximately median readability compared to the rest of the text. Note: RTBM = Real Time Balancing Market, RUC = Reliability Unit Commitment, and DA = Day Ahead.