FERC’s approval of SPP’s Markets+ funding agreement and its recovery mechanism came as backers of the Western centralized day-ahead market were meeting with the snow-capped Rockies as a backdrop.

The two Southwestern utilities are closer to compliance with FERC Order 2023 but still have work to do in response to orders the commission issued.

BPA will be on the hook for nearly $27 million in funding for the next phase of SPP’s Markets+ — and potentially more depending on the market’s final footprint, according to a document SPP filed with FERC.

The RTO said it has received signed Phase 2 funding agreements from eight interested participants in its proposed day-ahead service offering — including the Bonneville Power Administration.

Arizona Public Service, Salt River Project and Tucson Electric Power announced they are jointly exploring the possibility of adding nuclear generation. 

CAISO's Western Energy Imbalance Market provided participants $374.25 million in benefits during the fourth quarter of 2024, down about 4% from the same period a year earlier, according to an ISO report.

Arizona Corporation Commissioner Kevin Thompson said he thinks his state’s four major utilities may have erred in committing to joining SPP’s Markets+ instead of CAISO’s Extended Day-Ahead Market.

Powerex says it will fund the next phase of SPP’s Markets+ and “re-affirmed” its commitment to joining the Western real-time and day-ahead offering.

The joint announcement by APS, SRP, TEP and UniSource Energy marks a significant win for SPP after a string of victories for CAISO’s competing Extended Day-Ahead Market.