PJM and MISO have reached agreement on a new product for interchange transactions similar to the CTS product PJM launched with NYISO.

A round-up of news from the PJM Market Implementation Committee on Nov. 7, 2014.

PJM and the IMM said they will target traders who schedule interchange trades for the last 15 minutes of an hour based on price differentials in the first portion of the hour, a scheme known as “slamming the close.”

PJM has dropped a plan that would have allowed dispatchers to cut interchange ramp limits in order to reduce price volatility and uplift.

The following PJM manual changes were endorsed by the Markets and Reliability Committee on Nov. 21.

The Market Implementation Committee will consider changes to PJM’s real-time pricing mechanism, which RTO officials say is depressing energy and reserve prices.