Federal energy regulators approved the Southwest Power Pool's Western Energy Imbalance Services tariff, which SPP said paves the way for its planned launch of the real-time balancing market on Feb. 1.

SPP said it entered into a period of parallel operations with market participants in early December, and testing and training in the WEIS market's production environment continues.

The tariff approved by the Federal Energy Regulatory Commission on Dec. 23 defines rates, terms and conditions for the WEIS market and the market's rules and obligations for participants. The tariff includes a market participant agreement effective on the date participants begin their involvement in the WEIS. SPP said it will administer the WEIS tariff separate from its open-access transmission tariff.

"We're very pleased with FERC's order on our WEIS market governing documents and are excited to be able to proceed with our implementation efforts which are well on their way," Bruce Rew, SPP senior vice president of operations, said in a written statement. "Today's order is another significant milestone on the way toward our planned February go-live."

SPP initially proposed the WEIS in April 2019 (see CEM No. 1544).