The WSPP exists to provide a catalyst for an efficient and robust wholesale electric power market that allows WSPP members to effectively manage their power deliverability and price risk and create opportunity. The WSPP Agreement is open to power sellers and customers, though it provides only for wholesale and not retail sales. Currently, there are more than 300 members.The Agreement is used to allow transactions to occur without constant renegotiations of contract terms and to standardize terms, thereby promoting liquidity in the market. Currently, the WSPP Agreement is the most commonly used standardized power sales contract in the electric industry. The current version was the result of a consensus reached by a diversified group of power sellers and consumers, including most of the major players in the industry.
Because of the constant changes in the industry, this is a continuous process with the WSPP attempting to ensure that its contract stays up to date. The WSPP operates through its committees. Each member has one vote on each committee. Each member must select one representative and one alternate and make those selections known to the organization.