Accenture and Southwest Power Pool have successfully launched SPP’s integrated marketplace in which market participants buy and sell wholesale energy and reserves in both a day-ahead and real-time market through the operation of a single, consolidated SPP balancing authority.
Through the integrated marketplace, SPP is now able to coordinate next-day generation across the region and provide participants with greater access to reserve energy. The marketplace helps SPP improve regional balancing of electricity supply and demand and to integrate renewable resources. The day-ahead market also provides participants with a mechanism to hedge against transmission congestion charges through the allocation and settlement of transmission congestion rights.
Accenture was selected in 2011 to provide services in program and project management, systems integration, technical architecture, regulatory services and readiness and deployment management.
“This is an important milestone for SPP and we are pleased to have helped deliver this project on time, and on budget,” said Greg Smith, a managing director in Accenture’s North America Utilities industry group. “These market implementations are extremely complex, and we are proud to have teamed with SPP, their vendors, and SPP’s market participants for a successful launch.”
With the launch of the integrated marketplace on March 1, 2014, SPP now has the ability to determine which generating units should run the next day for maximum cost-effectiveness. Based on previous cost benefit analysis, SPP’s integrated marketplace is expected to realize up to $100M in annual net benefits across the SPP footprint.