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Congestion Revenue Rights Market Trials Call 26 March, 2010

Congestion Revenue Rights Market Trials Call 26 March, 2010. ANTITRUST ADMONITION. ANTITRUST ADMONITION

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Congestion Revenue Rights Market Trials Call 26 March, 2010

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  1. Congestion Revenue RightsMarket Trials Call26 March, 2010

  2. ANTITRUST ADMONITION ANTITRUST ADMONITION     ERCOT strictly prohibits Market Participants and their employees who are participating in ERCOT activities from using their participation in ERCOT activities as a forum for engaging in practices or communications that violate the antitrust laws. The ERCOT Board has approved guidelines for members of ERCOT Committees, Subcommittees and Working Groups to be reviewed and followed by each Market Participant attending ERCOT meetings. If you have not received a copy of these Guidelines, copies are available at the Client Relations desk. Please remember your ongoing obligation to comply with all applicable laws, including the antitrust laws.  DISCLAIMER All presentations and materials submitted by Market Participants or any other Entity to ERCOT staff for this meeting are received and posted with the acknowledgement that the information will be considered public in accordance with the ERCOT Websites Content Management Operating Procedure.

  3. Agenda • Market Trials Roadmap • Documents Posted Since Last CRR Market Call • Known issues • Successful CRR Qualifications as of 4pm yesterday • Amber Participants • Red Participants • Upcoming Activities • Questions/Comments • FAQ

  4. Market Trials 2010 Roadmap http://nodal.ercot.com 4

  5. Documents Added Since Last Market Call • All Documents Found at http://nodal.ercot.com/readiness/markettrials/crr/index.html • CRR Qualification Dashboard: 03/26/10 (will be posted tonight) • CRR Known Issues Compiled 03/23/2010

  6. Known Issues Some awarded PTP CRR's may be .1 MW less than they should be If two CRRAH may not simultaneously request the same private download file they receive an error message. Not all Settlement Points (Resources) are mapped from the Network Model to the CRR Network Model Connectivity Node name and Connectivity Node to Connectivity Node Group Mapping is not currently complete in the Network Model Bilateral Trades allow a 24-hour buy posting Private Downloads->Market Results for a Monthly Allocation will not render

  7. Successful CRR Qualifications • As of 1600 CPT Thursday • 64 • Congratulations! Slide 7

  8. Successful CRR Qualifications as of 1600 CPT yesterday ACCENT ENERGY TEXAS LP (CRRAH) GEUS (CRRAH) CITY OF AUSTIN DBA AUSTIN ENERGY (CRRAH) GREEN MOUNTAIN ENERGY COMPANY (CRRAH) AEP ENERGY PARTNERS INC (CRRAH) CITY OF GEORGETOWN (CRRAH) AMERICAN ELECTRIC POWER SERVICE CORPORATION (CRRAH) IPA TRADING LLC (CRRAH) J ARON AND COMPANY (CRRAH) ANP FUNDING I LLC (CRRAH) JUST ENERGY TEXAS LP (CRRAH) BP ENERGY COMPANY (CRRAH) KEYSTONE ENERGY PARTNERS LP (CRRAH) BROWNSVILLE PUBLIC UTILITIES BOARD (CRRAH) LOWER COLORADO RIVER AUTHORITY (CRRAH) BRAZOS ELECTRIC POWER CO OP INC (CRRAH) LOUIS DREYFUS ENERGY SERVICES LP (CRRAH) BRYAN TEXAS UTILITIES (CRRAH) LUMINANT ENERGY COMPANY LLC (CRRAH) CARGILL POWER MARKETS LLC (CRRAH) MIDAMERICAN ENERGY COMPANY (CRRAH) CALPINE POWER MANAGEMENT LP (CRRAH) MORGAN STANLEY CAPITAL GROUP INC (CRRAH) CITIGROUP ENERGY INC (CRRAH) NRG TEXAS POWER LLC (CRRAH) CONOCOPHILLIPS COMPANY (CRRAH) OCCIDENTAL POWER SERVICES INC (CRRAH) CONSTELLATION ENERGY COMMODITIES GROUP INC (CRRAH) OCCIDENTAL POWER MARKETING LP (CRRAH) CPS ENERGY (CRRAH) OPTIM ENERGY MARKETING LLC (CRRAH) DB ENERGY TRADING LLC (CRRAH) RAINBOW ENERGY MARKETING CORPORATION (CRRAH) DIRECT ENERGY LP (CRRAH) RAYBURN COUNTRY ELECTRIC COOPERATIVE INC (CRRAH) DENTON MUNICIPAL ELECTRIC (CRRAH) THE ROYAL BANK OF SCOTLAND PLC (CRRAH) DESERT SKY WIND FARM LP (CRRAH) RELIANT ENERGY POWER SUPPLY LLC (CRRAH) DTE ENERGY TRADING INC (CRRAH) SEMPRA ENERGY SOLUTIONS LLC (CRRAH) SEMPRA ENERGY TRADING LLC (CRRAH) EDF TRADING NORTH AMERICA LLC (CRRAH) EC AND R ENERGY MARKETING LLC (CRRAH) SHELL ENERGY NORTH AMERICA (US) LP (CRRAH) EDISON MISSION MARKETING AND TRADING INC (CRRAH) STAR ELECTRICITY LLC DBA STARTEX POWER (CRRAH) EXELON GENERATION COMPANY LLC (CRRAH) SOUTH TEXAS ELECTRIC COOPERATIVE INC (CRRAH) FIRST CHOICE POWER LP (CRRAH) GDF SUEZ ENERGY MARKETING NA INC (CRRAH) FORMOSA UTILITY VENTURE LTD (CRRAH) GDF SUEZ ENERGY RESOURCES NA INC (CRRAH) FORTIS ENERGY MARKETING AND TRADING GP (CRRAH) TENASKA POWER SERVICES CO (CRRAH) NEXTERA ENERGY POWER MARKETING LLC (CRRAH) TRENT WIND FARM LP (CRRAH) CITY OF GARLAND (CRRAH) TRIEAGLE ENERGY LP (CRRAH) BJ ENERGY LLC (CRRAH)) FRANKLIN POWER LLC (CRRAH) PSEG ENERGY RESOURCES AND TRADE LLS (CRRAH) EPIC MERCHANT ENERGY TX LLC (CRRAH) TEX-LA ELECTRIC COOPERATIVE OF TEXAS INC (CRRAH))

  9. If the Report were run today, the following participants would be RED (No record of contact regarding Qualification) AMBRIDGE ENERGY LLC (CRRAH) COMMERCE ENERGY INC (CRRAH) CREDIT SUISSE ENERGY LLC (CRRAH) PEPCO ENERGY SERVICES INC (CRRAH) PRIVATEMARKETS INC (CRRAH) VELOCITY AMERICAN ENERGY MASTER I LP (CRRAH) MERRILL LYNCH COMMODITIES INC (CRRAH)

  10. Upcoming CRR Market Trial Activities • Monday, 29 March (or earlier) • ERCOT Posts May and Balance of Year Allocation results • Friday, 2 April • ERCOT Posts May CRR Auction Notice

  11. 11 10/26/2014 For a combined cycle unit, it does not look like a MP has the ability to chose the combined cycle settlement point price (logical CCP resource) as a valid source/sink type.  Is this a true statement?  In short, the logical CCP resource splits the power out between the GTs and the Steamer.  However, when we are creating the CRR auction we have no earthly idea or way of knowing which CCT configuration will be valid for the prompt month/year, so we don’t guess, but rather put the burden of that guess on the bidder.  Presumably someone hedging a contract would have a better idea of the configuration than we would.

  12. 12 10/26/2014 As I'm uploading my bids for the APR CRR mock auction, I realized the node for one of our wind farms is missing from the list of sources/sinks. Please note that ERCOT has been having trouble with its topology processor, and this is a known defect. Though KUNITZ_DEL did recently change it’s name to KUNI_LGE_NWP

  13. 13 10/26/2014 • I am trying to estimate my CRR auction revenue uplift, and am looking for my zonal LRS. Is that posted somewhere? If not, is historical load by CM zone listed anywhere? • For the Zonal Load Ratio Shares which are used the CRR Auction/Allocation Revenue Distribution, please follow these simple steps: • Go to the ERFCOT website (www.ercot.com) • In the lower left hand part of the web page, you will find the VIEW OTHER ERCOT WEBSITES • From the Select One, click on the Transmission Revenue Right button • This takes you to the ERCOT TCR Auction page • Click on the Postings/News button • This takes you to the Postings/News page • Scroll down to almost the end of the page where you should find the Distribution of TCR & PCR Revenue Allocation • There you will find the Load Ratio Share for years 2003 thru 2010 and the TCR & PCR Revenues to be distributed to ERCOT Load.

  14. 14 10/26/2014 We are a NOIE. At this time we are really only interested in being awarded our allocated PCRR’s.  I know there is a cost (percentage of the CRR) associated with them once the auction has run.  Do we need to pre-assign credit as described below in order to be awarded those PCRRs once the auction has run?  There are no credit requirements for allocations in market trials or in production . You do not need, nor will you ever need (assuming no changes in the protocols) to assign credit to CRR to be awarded PCRRs

  15. 15 10/26/2014 What’s the schedule for updating the CRR Ownership of Record?  In the future will the CRR Ownership of Record be updated at the same time as the Auction Results?  Protocols state that CRR Ownership must be posted by the 5th business day of every month

  16. 16 10/26/2014 We are looking at the clearing price (shadow prices) and comparing them to the Source and Sink Clearing Prices.  As we understand, the price for a CRR path is the Sink Clearing Price – Source Clearing Price.  However, when we look at this calculation compared to our CRR Path clearing prices it appears that the sign is reversed. Are the Clearing Prices in the market results reversed?  Are the Source and Sink Clearing Prices reversed? When CRRs are settled in the DAM, they are settled at (Sink Price –Source Price).  However, when they are purchased in the CRR auction, they are (for OBL) purchased at (Source price – Sink Price).  As such, the posted results are correct. ERCOT agrees with the concern and will talk to the vendor and see if we can get the Source/sink prices multiplied by negative 1.  

  17. 17 10/26/2014 We are reviewing the results of the APR CRR Market Trial.  In the bid data we see several bids that have a positive Bids value but their MW value is zero.  For instance, if the data is loaded into Excel, lines 4432 to 4442 have increasing bids but their MWs are all zero.  Is the MW column truly the bid or is this the cleared MWs? This is a known issue. We have described it as “Market Results Public Download Bids and Offers file for Auctions shows awarded MW instead of bidded MW” It has been fixed by the vendor and installed in the production environment. We don’t forsee seeing this issue going forward.

  18. 18 10/26/2014 • If on April 10 two account holders trade a CRR that is effective for only one day within the same month, April 20, is there an extract that a settlements user can view to see that the CRR traded parties for the April 20 effective date?  Given that the CRR Ownership file is not posted until May 5, is there another file that would provide this information in order to properly shadow settle?  Or would this only be accessible in the CRR Application, which Settlements would not have access to. • No, there is no ‘read only’ extract view on MIS or in the CRR application. One of two things should happen: 1) The Settlements user would need to wait until the 5th business day of the month to see the updated CRR ownership file, or 2) The account holder’s company would need to have an internal procedure in place for the trader to contact the settlements user to let him know about the trade and send an updated CRR ownership file.

  19. 19 10/26/2014 Does ERCOT have any future plans to provide a programmatic interface for CRR Auctions and Bilateral Trading (re-registration)?  At present we are defining our internal processes to utilize the portal exclusively for CRR Auctions and Trading, but it would be very useful to have a programmatic capability that we could build into our Scheduling and Submittal Tools. No plans at this time for such an interface. A programmatic interface to the CRR application would be a significant increase in the program scope and is not in our current requirements.  As such, the addition of it to the scope would have to be market participant driven.  This would be a logical item to place on the post go live parking deck

  20. 20 10/26/2014 When I tried to download private market nomination results For April, I get the following error: The system is experiencing difficulties at this moment. Please try again later. This is only for the Monthly Allocations, and only for the .csv style download.  The workaround is to download the .xml file, drop it onto Excel, and then save as a .csv type of file.The vendor has been notified and it will be in the next fix.

  21. Open Question Time Questions? Slide 21

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