The Southwest Power Pool’s (SPP) new Markets+ program represents one of the most significant energy market transitions in the U.S. in decades. For balancing authorities (BAs) and utilities, it offers the best of both worlds: the ability to retain BA control while gaining access to the efficiency, transparency, and revenue potential of a day-ahead market.
A notable aspect of Markets+ is its appeal to current California Independent System Operator (CAISO) Energy Imbalance Market (EIM) participants. These entities, previously engaged only in real-time markets, will transition to a day-ahead market structure, opening new opportunities for revenue optimization and operational planning.
With the program’s first tranche of participants targeting a 2027 launch, understanding how SPP has evolved, what makes Markets+ different, and the implications for the region will be critical for policy and decision makers, as well as organizations looking to position themselves to thrive in the new market design.
SPP’s Early Market Milestones
Established more than two decades ago, SPP began as a real-time Energy Imbalance Service (EIS) market, working with Balancing Authorities (BA) to manage grid reliability. It saved members $103 million during its first year of operation.
In 2009, SPP began its transition from an EIS to an Integrated Marketplace, becoming the first Regional Transmission Organization (RTO) to consolidate 16 BAs into a single operational framework simultaneously.
Launched on time in 2014, the IM included a Day-Ahead Market, Reliability Unit Commitment, and Real-Time Balancing Market. This transition improved operational coordination and positioned SPP as a leader in market design and implementation.
Building on this success, SPP is now launching its Markets+ initiative, which integrates additional functionalities while maintaining reliability and efficiency at its core.
The Next Evolution: SPP Markets+
SPP Markets+ is a Western day-ahead and real-time market designed to centralize unit commitment and dispatch, enabling efficient integration of renewable energy sources. Unlike traditional markets, participants retain BA control while benefiting from the efficiencies of a centralized market.
Phase 2 of Markets+ began in July 2025, with $150 million in funding for full market implementation. This phase includes staff onboarding and participant registration. Five BAs are scheduled to go live in 2027, with an additional five expected in or after 2028. Phase 2 will bring 25 market participants and 31 stakeholders into the program.
A notable aspect of Markets+ is its appeal to former California Independent System Operator (CAISO) Energy Imbalance Market (EIM) participants. These entities, previously engaged only in real-time markets, will transition to a day-ahead market structure, opening new opportunities for revenue optimization and operational planning.
The design of Markets+ reflects the Western grid’s unique characteristics: transmission networks are less interconnected, levels of hydro and co-located or hybrid battery resources are higher, and the concentration of renewable resources is higher relative to baseload than in the Eastern SPP footprint. State-level greenhouse gas programs and coordination with non-market participating BAs introduce further complexity.
Addressing these factors is central to SPP’s ongoing development of Markets+.
Positioning for Success: How PCI Supports Markets+ Participants
Successfully navigating Markets+ requires more than understanding the market’s design – it demands preparation, strategic planning, and workflow optimization. PCI brings decades of experience helping market participants manage complex market transitions.
Experience and Expertise
PCI supported over a dozen customers through SPP’s EIM go-live, providing end-to-end guidance from requirements analysis to testing, go-live, and post-launch support. Our long-standing relationship with SPP, dating back to its EIS days, enables us to provide unparalleledinsight into market protocols, operational expectations, and potential pitfalls.
Tools and Technology
PCI provides a suite of interconnected products designed to optimize workflows across market operations, settlements, accounting, invoicing, and credit and risk. Centralized platforms reduce handoffs, maintain standards of conduct, and ensure teams stay connected.
M+ Bot: AI-Powered Support
PCI’s specialized AI assistant, M+ Bot, provides detailed, actionable answers about Market+ operations, rules, and strategies by querying a curated knowledge base of the latest official SPP documentation.
M+ Bot
Query our free, expert curated, SPP Markets+ AI chatbot
To maintain high accuracy, M+ Bot undergoes weekly validation, and its knowledge base is updated as new protocols are released. The bot also provides links to the underlying documentation, allowing users to verify answers and maintain confidence in the guidance.
Have a question about SPP Markets+? Ask the M+Bot now!
Beyond assisting users, M+ Bot contributes to the broader knowledge base by generating informative articles on key topics within SPP Markets+, such as:
- How Market Participants Tag Real-Time Energy Exports from Markets+ to CAISO
- What Happens If a Market Participant Discovers an Error After the Deadline in Markets+
- Understanding the Main Entities in SPP Markets+ & Their Roles in Market Operations
SPP Stakeholder Engagement
PCI actively participates in SPP working group (WG) and task force (TF) meetings on behalf of clients, collecting and analyzing key information, tracking market developments, and sharing insights to help organizations anticipate challenges and maintain a strategic advantage throughout the Markets+ transition.
A central component of this engagement is PCI’s involvement in the Markets+ Change User Forum (MCUF). MCUF coordinates Phase 2 implementation activities, defines readiness metrics, plans milestones, oversees testing, and tracks defect resolution. By monitoring and participating in MCUF, PCI ensures customers stay informed, aligned, and prepared for upcoming market changes.
These meetings often highlight changes and methodologies that were not fully defined in the initially approved protocols. PCI translates these refinements into actionable workflows for customers, ensuring internal processes and PCI products are aligned with the latest market practices.
Webinars, Round Tables, and Training
PCI hosts round tables for its customers, providing a structured forum for ongoing communication and collaboration. These sessions keep participants aligned across teams, socialize changes observed in the market, gather collective feedback, and foster a community of users sharing collective experience.
PCI Webinars, open to everyone, educate prospective participants and stakeholders about Markets+ operations and best practices.
PCI also partners with EUCI, a leading energy industry training organization, to deliver targeted Markets+ training sessions. The upcoming course, “SPP Markets+: Maximizing the Value of Generation, Loads & Transmission Assets,” will be held October 23–24, 2025. It will focus on practical workflows and strategic participation for both committed participants and organizations considering Markets+.
Partnering for Success in SPP Markets+
Successfully navigating SPP Markets+ requires coordinated workflows across day-ahead, real-time, and monthly operations, as well as the ability to adapt as the market evolves. PCI is uniquely positioned to support organizations through this transition, not just as a product vendor, but as a strategic business partner. Our integrated suite of tools connects teams across balancing authorities, marketing, settlements, accounting, invoicing, and credit and risk, reducing handoffs, avoiding silos, and maintaining standards of conduct.
Markets evolve, and so do the challenges of participation. PCI works alongside customers to solve workflow challenges, streamline operations, and ensure every participant is prepared to thrive in the Markets+ environment.
Learn more about how PCI can help your organization optimize participation or schedule a demo of our integrated solution on our SPP Markets+ Landing Page.
