BPA issues Day-Ahead Market Policy to pursue participation in SPP’s Markets+

Providing value to customers and a governance structure that preserves the benefits of the Federal Columbia River Power System are the key reasons the Bonneville Power Administration is announcing it will pursue joining the Southwest Power Pool’s Markets+ day-ahead market.

BPA’s Day-Ahead Market Policy lays the foundation and scope for future implementation decisions related to Markets+, including upcoming public processes related to rates, the terms and conditions of BPA’s open access transmission tariff, and the eventual execution of the requisite agreements to formally become a participant in Markets+. The release of this policy accomplishes the important and timely step of clarifying for customers, sovereigns and stakeholders the agency’s intended direction, priorities and scope for future decisions.

BPA conducted a multi-year open and transparent public process to evaluate day-ahead market participation leading up to the development of the policy. BPA posted its draft policy for comment and responded to comments in the record of decision supporting its policy.

As discussed in the policy and record of decision, Markets+ will provide economic benefits for BPA customers, will allow for market design modifications through an independent stakeholder process, and has been created from the ground up with design features that limit downside financial exposure.

“The policy sets the agency’s strategic direction for future processes and provides the best option to meet BPA’s long-term strategic business interests and statutory mission,” said BPA Administrator and CEO John Hairston.

Both the policy and record of decision affirm the recommendation from BPA’s March 2025 draft policy proposing that Markets+ is the best option for the agency to pursue because of its alignment with BPA’s legal obligations, independent governance and robust market design.

This summer, BPA will work with a market integrator to continue implementation scoping and planning, and begin taking steps toward participation that will be addressed in processes including rate and tariff proceedings. The results of these processes will be used to inform formally joining as a Markets+ participant. BPA will keep the public informed of market design updates and technical considerations, with continued opportunities to comment.

BPA’s day-ahead market policy and record of decision are available at www.bpa.gov/learn-and-participate/projects/day-ahead-market. A media session will be held later today to answer additional questions. Requests for invitations can be sent to mediarelations@bpa.gov.