PJM will pay MISO $8.6 million to correct market-to-market accounting errors:
- Merit Order (4/6/2013 – 7/17/2013) — During the summer seasonal allocation run, PJM incorrectly changed the dispatch priority for some of its generators that came on-line after the April 2004 “freeze” date, causing the units to be dispatched in the calculation of the allocation when they should not have been. This caused incorrect Firm Flow Entitlements (FFEs) to be used in the settlements processing.
- Load Forecast (6/1/2013 – 8/14/2013) — The MISO monthly load forecast for MISO LBAs was not getting refreshed, causing the flowgate allocation calculation to use stale load forecast data. This impacted FFEs used in the M2M process.
PJM will begin processing the invoices next month.