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Market Participation

To ensure fair, efficient and competitive markets, MISO requires organizations to register as Market Participants before participating in our Open Access Transmission, Energy and Operating Reserve Markets. As a Market Participant, your company becomes a legal entity certified by MISO to submit bids to purchase energy, submit offers to supply energy and operating reserve, hold financial transmission or auction revenue rights and other market-related activities.

Use the Document Navigator below to access many of the resources needed to manage your Market Participant Status. 

Opportunities to Join as a Market Participant

The online Market Participant registration tool is only accessible through our secure Market Portal so you’ll need to complete a few steps before you can begin your registration. There are no application fees to be come a Market Participant. However, you will incur costs when registering with OATI webRegistry, obtaining digital certificates, and posting collateral with MISO to meet your credit requirements.

1. Obtain Dun & Bradstreet D-U-N-S Number

The OATI webRegistry (system of record for electric industry information), described in Step 2, requires a DUNS number.

2. Register with the OATI webRegistry 

Note: Check with OATI WebRegistry for a list of accepted certificate vendors.

Your registration should be in 'approved' status prior to moving on to Step 4.

3. Obtain a Digital Certificate

MISO requires a client-side digital certificate from one of three MISO trusted Certificate Authorities. 

  1. IdenTrust
  2. Entrust
  3. OATI
  
Please complete and return via email to the attention of Customer and Asset Registration Services.
 
5. Using the Online Registration Tool

We developed an online tool to help you register as a Market Participant. You can access the tool as soon as we process your system access request.

You are required to complete online sections and submit legal documents based on intended market activities. The type of market activities that you identify during the application process determine your rights and obligations under the Tariff, so please read the directions carefully.

6. Email Required Legal Documents

The legal documents required for your organization are located in the online registration tool. Download the listed documents, obtain the necessary signatures, and email them to: register@misoenergy.org.

7. Credit Approval

After receiving the completed application, the Credit team will ensure that the applicant has met all of MISO's minimum requirements and has suitable collateral in place. For additional information regarding MISO's credit requirements, please visit:

8. Certification Deadlines

Certification occurs after credit approval and when the model is loaded, 7-10 days prior to the effective date. 

 

Certified Market Participants who qualify for supplemental registration initiatives must submit the necessary documentation that corresponds to Tariff Schedule requirements.

Reactive Supply and Voltage Control (Schedule 2)

Upon request and with FERC approval, MISO provides compensation to Market Participants who have a Qualified Generator that provides reactive power and voltage control. Required documents include:

Station Power Service (Schedule 20)

Market Participants who are eligible to provide Station Power Service under Schedule 20 may register for service through On-Site Self-Supply, Remote Self-Supply, or Third-Party Supply. Required documents include:


Emergency Demand Response (Schedule 30)

Market Participants who have the capability to reduce load or operate back-up generation resources during emergency conditions can register those resources as Emergency Demand Response. Required documents include:


Blackstart Service (Schedule 33)

Certified Market Participants may register a Blackstart Unit if you have received FERC approval and meet criteria established in Schedule 33. You must commit to a minimum term of a continuous 3-year period and your unit must be tested periodically in accordance with NERC System Restoration and Blackstart reliability standards. Required documents include:

 

The Commercial Model contains information used to identify assets, collection of asset ownership, and representative Market Participants. It also defines all of the locations where prices are established and used for business transactions in MISO markets.

Market Participants are responsible for maintaining their Commercial Model representation and must follow established Network and Commercial Model deadlines for all additions and changes.

All additions, changes, and transfers of Commercial Model assets require the following documents:

For an overview of changes that can be submitted into the Commercial Model, please see below.   For a complete list of parameters associated with each type of Commercial Model resource, refer to BPM 010 - Network and Commercial Models, Attachment E.

 

Asset Owner

An Asset Owner can have any combination of generation and load but ownership of a physical asset is not required. Market Participants may add, transfer, or terminate its Asset Owner representation. 

 

Generation

Market Participants may add or transfer resources capable of providing Generation.  This includes generation resources, combined cycles, and external asynchronous resources.   Market Participants may add or transfer a Commercial Pricing Node to represent the resource in the market.

 

Load Zone

A Load Zone is a collection of elemental pricing nodes (which will correspond to the CPNodes which represent Load Zones), and, are considered assets and must be assigned to an Asset Owner.  The CPNode to EPNode relationship for these is typically one to many except for isolated municipal or industrial load assets that have only one elemental load point in the Network Model.

* Note: Any request to create a Load Zone shall have approvals from the Local Balancing Authority.

 

Demand Response Type I

DRR Type I are typically customer programs such as industrial interruptible load programs, controlled appliance programs and other load reduction programs capable of providing a specific amount of Energy or Contingency Reserve into the MISO Market through physical load interruption.  Market Participants may add or transfer a Commercial Pricing Node to represent the DRR Type I in the market.

 

Demand Response Type II

DRR Type II are typically behind the meter generators or highly controllable load processes capable of receiving electronic dispatch instructions to supply a range of Energy and/or Operating Reserves.  Market Participants may add or transfer a Commercial Pricing Node to represent the DRR Type II in the market.

 

Stored Energy Type I

SER Type I is capable of supplying Regulating Reserve, but not Energy or Contingency Reserve, through short-term storage and discharge of Electrical Energy.  Market Participants may add or transfer a Commercial Pricing Node to represent the SER Type I in the market.

 

Stored Energy Type II

SER Type II is capable of supplying Energy, Capacity, Spinning Reserve, Supplemental Reserve, Regulating Reserve, Up Ramp Capability, and/or Down Ramp Capability, through the storage and discharge of electrical Energy.  Market Participants may add or transfer a Commercial Pricing Node to represent the SER Type II in the market.

 

Pseudo Ties

A time-varying energy transfer that is updated in Real-time and included in the Actual Net Interchange term (“NIA”) in the same manner as a Tie Line in the affected Balancing Authorities’ Reporting Area Control Error (“ACE”) equation (or alternate control processes). Pseudo Ties can be considered NEW, Modify Path or Volume, Reinstate or Terminate for either Load or Generation. The entire process is explained in much greater detail, by reviewing  BPM 030 – Pseudo Ties

Market Participant Maintenance

It is the responsibility of all Certified Market Participants to ensure data is kept current and that any change(s) to such data is submitted to MISO according to any stated deadlines.  Failure to notify MISO of a change in information within stated deadlines may result in the change not being implemented within the requested timeframe.

Attachment B - Change of Information Document 

Use the Attachment B – Change of Information to maintain information on file with MISO. You are required to notify us of changes such as:

  • Billing or Banking Information
  • Local Security Administrator Information–also requires submitting the LSA Information Form(pdf)
  • Commercial Model Information

Commercial Model Asset Registration Template 

All Commercial Model dependent changes require the submission of the Master Commercial Model Data Template change template. We must also receive an Attachment B in accordance with the Network and Commercial Model deadlines.

Terminating Market Participant Status 

Please complete and sign this form if you wish to terminate your Certified Market Participant status. MISO must receive the request no later than five (5) business days prior to the requested termination date.

You may reapply to become a Market Participant no earlier than one (1) month after the effective date of termination, and only provided that you are not in default of any obligation incurred under the Tariff.

Market Participant Resources