Energy Offer Verification
To comply with FERC Order 831, PJM conducts a verification process for incremental energy offers greater than $1,000/megawatt-hour, effective April 12, 2018, prior to being eligible to set LMP as detailed in Section 2.3.6.2 of Manual 11. Offers greater than $1,000/MWh that fail initial validation are capped at $1,000/MWh in Markets Gateway. Market Sellers have the opportunity to submit an Exception Request and the required supporting documentation in Markets Gateway’s “Fuel Price Exceptions” screen, replacing the PJM Connect website, which was retired on December 1, 2023.
Market Sellers should confirm access to the following prior to any Offer Verification Event:
- Markets Gateway
- Member Information Reporting Application (MIRA)
- Ensure up to date fuel cost policies.
- Ensure accurate and complete cost offer information in the COA MIRA module.
- XML Setup for “Fuel Price Exceptions” Step 1 (Not Required, but may be helpful)
Energy Offer Verification Process Overview and Training
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Presentation reviews the latest Energy Offer Verification Process and also provide key information for Market Participants to prepare for Energy Offer above $1000/MWh.
December 2023 Presentation PDF
Recording WEB
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