Day-Ahead Market (DAM) Clearing Process follow-up from February WMS. Matt Mereness, ERCOT Manager DAM & CRR. Outline of Discussion from WMS regarding DAM OD 2/6/13. Two action items from WMS in Feb What was the amount of load resource proration Details and requirements of DAM Optimization
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Matt Mereness, ERCOT Manager DAM & CRR
Two action items from WMS in Feb
The DAM uses a multi-hour mixed integer programming algorithm to maximize bid-based revenues minus the offer-based costs over the Operating Day, subject to security and other constraints, and ERCOT Ancillary Service procurement requirements.
(a) The bid-based revenues include revenues from DAM Energy Bids and Point-to-Point (PTP) Obligation bids.
(b) The offer-based costs include costs from the Startup Offer, Minimum Energy Offer, and Energy Offer Curve of any Resource that submitted a Three-Part Supply Offer, DAM Energy-Only Offers and Ancillary Service Offers.
(see next slide for market clearing objective function)
Majority of online AS offers from generators (~75%) were not linked with Non-Spin on Feb 6
APPENDIX February WMS
Simplified example to illustrate price effect from linking AS capacity in AS Offers:
QSE AS Obligation
AS amount ERCOT
buys in DAM for QSE
QSE AS Responsibility
Total DAM AS
Total SASM AS
AS sold in Trades
AS bought in