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SPP is in the process of sharing draft funding agreements with phase-one participants and other parties interested in joining Markets+ phase two development. Agreements will ensure funding of the $150 million required for software and hardware acquisition, staffing, testing and parallel operations associated with Markets+ build-out and launch.
Initial response to these draft agreements is positive. Bonneville Power Administration (BPA) Vice President of Marketing Rachel Dibble said of her organization's Markets+ participation, "BPA intends to continue its funding of the development of Markets+ as we continue our public process. As outlined in our staff recommendation in April, Bonneville sees many benefits for its customers and the Pacific Northwest in SPP’s western day-ahead electricity market, particularly its independent governance model. With customer support, we are ready to invest in this next step of development and ensure the viability of Markets+. We are currently reviewing and negotiating Phase 2 funding agreements with SPP as are other utilities and participants. Ultimately, ensuring the viability of two day-ahead market options remains a key principle of our evaluation and decision process. BPA’s funding of the next phase of Markets+ development supports that goal.”
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