To borrow a line from Bob Dylan, the times they are a-changin’. This weekend, in conjunction with the end of daylight savings time, changes are coming to MISO’s Day-Ahead Market daily timing schedules. Effective on November 5, 2016, a number of timing changes will better align electric and natural gas industry scheduling practices.
With gas-generated electricity becoming more prevalent in the MISO region due to low gas prices, environmental standards for coal plants and other factors, these changes will enable MISO and our stakeholders to better adapt to evolving market conditions and regulatory requirements.
Under the plan, MISO’s Day-Ahead Market will change from Eastern Standard Time to Eastern Prevailing Time (which is Carmel local time). The various Day-Ahead Market deadlines will shorten by 30 minutes to 2 hours.
Changing Day-Ahead Market timing will bolster system reliability by giving gas-fired generators more opportunities to purchase fuel once they receive confirmation from MISO that they will be expected to operate the following day.
Additionally, by expediting the Day-Ahead and Reliability Assessment Commitment processes, the changes will allow MISO to evaluate whether resources with longer start-up times can be committed for the following day, thereby enhancing reliability.
The changes will also align MISO’s Day-Ahead Market with PJM Interconnection’s market, enhancing coordination between the two systems.
The timing changes were developed in response to FERC Order 809, which requires the coordination of the scheduling processes of interstate natural gas pipelines and public utilities. MISO worked extensively with stakeholders over the last year to develop the detailed plan for next month’s changes.
Access additional details about the MISO Day-Ahead Market changes on the MISO website.