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EES/Two Settlement FAQs


  1. How do I submit a schedule to get paid the Real-Time Locational Marginal Price (LMP)
  2. How do I submit a schedule to get dispatched at the Real-Time LMP?
  3. What are the Two Settlement features?
  4. Does a Two Settlement schedule lock in ramp room?
  5. How do I get my Real-Time Energy to match the Two Settlement results?
  6. What type of transmission service must I have to schedule a Two Settlement deal?
  7. What is the time line for submitting a Two Settlement bid?
  8. How do I read my Two Settlement results?
  9. How does the Accounting Two Settlement process work?


Q1: How do I submit a schedule to get paid the Real-Time Locational Marginal Price (LMP)
A1: In PJM, a valid external physical transaction requires an EES ramp reservation, an OASIS reservation, and a valid NERC E-Tag. The E-Tag, once implemented, will be considered the schedule, and will receive the real-time LMP regardless of the initial submission time.
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Q2: How do I submit a schedule to get dispatched at the Real-Time LMP?
A2: The Reserve w/ Price button, in the Reserve Ramp section of EES. A Reserve w/ Price schedule will be loaded and unloaded based on the Real-Time LMP. Schedules submitted using this option must be submitted before 1200 noon day ahead.
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Q3: What are the Two Settlement features?
A3: Under the Two Settlement option, there are the choices of Fixed, Congestion, and Dispatchable.
  • Fixed: A Fixed Two Settlement schedule will get paid the Day Ahead LMP for the duration of the schedule.
  • Dispatchable: A Dispatchable Two Settlement schedule will get paid the Day Ahead LMP for those hours that were accepted. The bid will be rejected for those hours that the day ahead LMP proves to be less than the amount specified for an Import into PJM or greater than the amount specified for an Export from PJM.
  • Congestion: Congestion allows the market participant to specify an amount of congestion they are willing to pay. The bid will be rejected for those hours that the day ahead congestion proves to be greater than the amount specified.
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Q4: Does a Two Settlement schedule lock in ramp room?
A4: Two Settlement schedule does NOT lock in ramp room. Two Settlement transactions are strictly financial agreements that have no affect on the physical flow of energy. All ramp room will be allocated from the information entered for normal ramp reservations.
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Q5: How do I get my Real-Time Energy to match the Two Settlement results?
A5: When the Two Settlement results come back at 1600 EPT, you must modify your ramp reservation/ E-Tag to match what was accepted. These modifications will be seen as hourly changes to your schedule.
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Q6: What type of transmission service must I have to schedule a Two Settlement deal?
A6: In order to submit a valid Two-Settlement schedule, you must associate either Spot In or Willing to Pay Congestion transmission service.
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Q7: What is the time line for submitting a Two Settlement bid?
A7: All Two Settlement bids must be in EES before 1200 noon day ahead.
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Q8: How do I read my Two Settlement results?
A8: The Two Settlement results will be posted as hourly integrated values in EES. For example, if you submitted a schedule for 100MW for 0715-2315 and all hours were accepted, your results would be displayed as 75MW for 0700-0800, 100MW for 0800-2300, and 25MW for 2300-2400.
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Q9: How does the Accounting Two Settlement process work?
A9: The day ahead Two Settlement financial commitment will be compared to the real time physical flow of the corresponding energy schedule. Any deviation found during this balancing process will be purchased or paid back at the Real-Time LMP.
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