PJM Board Details IMM Evaluation Process; Adds Liaison, Survey

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The PJM Board of Managers is expanding its process for evaluating the performance of the independent market monitor, with the engagement of an external consultant who will serve as a liaison between members and the Board, as well as the creation of an annual stakeholder survey.

“As a result of suggestions from members at the recent Liaison Committee meeting [in October], the Competitive Markets Committee of the PJM Board has decided to broaden and formalize the way it collects and assesses information about market monitoring in PJM and to provide an opportunity for all stakeholders to give feedback,” the Board stated in a letter to stakeholders Wednesday.

The Board is charged with overseeing the market monitoring function, which is performed by Monitoring Analytics, LLC, based in Eagleville, Pa. The independent market monitor, the Board wrote, “is responsible for guarding against manipulation of the markets and assisting in the maintenance of robust, competitive and nondiscriminatory markets in PJM.”

Beginning in January 2019 stakeholders will receive an annual online survey about market monitoring in PJM, with results provided directly to the chair of the Board’s Competitive Markets Committee.

In addition, an external consultant will be available year-round as the liaison, to receive feedback directly from members. In either format, stakeholders may choose to remain anonymous.

Communication between the liaison and the Board will not be shared with PJM management except at the direction of the Competitive Markets Committee.

The Board has chosen Michael Bardee, who retired from the Federal Energy Regulatory Commission (FERC) in February, to serve as the liaison.

Bardee worked at FERC for more than 25 years, as general counsel from 2010-2012 and most recently as director of the Office of Electric Reliability for five years. His toll-free number is 1-833-705-8428.