PJM and Monitoring Analytics signed a new contract the other day. After a bit of a kerfuffle earlier this year where the PJM Board of Managers sought to issue an RFP to evaluate other proposals to provide market monitoring services for PJM, it appears that not much has changed after all.
There's a new "Protocol for Improved Interaction" where PJM and the Market Monitor promise to play nice and share their deepest, darkest secrets. It looks like each party had to promise to make an increased effort to keep the other better informed, to include:
"The MMU will notify PJM (Andy Ott) in writing (through email) when it becomes concerned with specific market participant behavior which creates major issues for the PJM markets."
That should be really helpful so that the entities playing market games can be given one last warning so they can fire up the shredder before they get caught.
Let's face it, fellow consumers, we will never understand the Market Monitor's function, no matter how many unread copies of the State of the Market Report are riding around in our back seats. It's all a matter of blind trust.