PJM has extended the deadline for participants to submit bids and offers in the Day-Ahead Energy Market from 10:30 a.m. to 11 a.m.
The extension better aligns PJM’s market deadlines with those of natural gas pipelines. Specifically, it provides additional time for generators (natural gas generators, in particular) to interact with natural gas markets and gives them more price certainty when purchasing fuel.
The deadline extension is part of PJM’s ongoing work to enhance gas/electric coordination.
Previous Market Alignment Efforts
PJM previously moved the Day-Ahead Market schedule to earlier in the day to ensure that generators know their power obligations before scheduling gas transportation. The gas industry had also moved its nomination cycles – the time period in which gas transportation is scheduled – two hours later in the day, which when coupled with the Day-Ahead Market move, has helped alleviate market misalignment.
Read more about PJM’s gas/electric coordination efforts in the Learning Center.
The Federal Energy Regulatory Commission approved the revisions to PJM Tariff and Operating Agreement that extended the deadline to 11 a.m. on Dec. 4.