Members agreed last week to consider changing credit requirements for virtual transactions in January and February 2015 despite opposition from PJM.

Financial marketers are pleased with PJM’s proposal to change the way uplift charges are assessed on virtual trades but aren’t convinced by a PJM analysis that the RTO says justifies extending the charges to up-to congestion trades (UTCs).

A brief primer on virtual trading: INCs, DECs and UTCs.

PJM wants to change the way virtual trades pay for uplift, replacing the current unpredictable charges with a flat per megawatt fee and assessing them for the first time on up-to congestion trades (UTCs).