1 / 10

March 13, 2014 | NEPOOL markets committee

March 13, 2014 | NEPOOL markets committee. Jonathan Lowell. Principal analyst | market development. Updates to Manuals M-REG, M-RPA, M-28, M-29 and M-35. Market Manual Updates for Order 755 Regulation Market Changes. Order 755 Regulation Market Implementation.

nelia
Download Presentation

March 13, 2014 | NEPOOL markets committee

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. March 13, 2014 | NEPOOL markets committee Jonathan Lowell Principal analyst | market development Updates to Manuals M-REG, M-RPA, M-28, M-29 and M-35 Market Manual Updates for Order 755 Regulation Market Changes

  2. Order 755 Regulation Market Implementation • ISO currently anticipates an effective date in late-May 2014 for the Order 755 regulation market implementation • The manuals are being updated to reflect the changes in how Market Participants will participate in the market • The biggest of these changes include: • Offers will now include a capacity price and a service (mileage) price • Offers may be updated throughout the day • Alternative Technology Regulation Resources may now register and participate in the market • No more self-scheduled regulation

  3. Summary of Changes to Market Manuals • Note: changes from drafts presented at the February MC meeting are shown in red. • M-28 Accounting • Minor edits to recognize there are now two different regulation clearing prices, and regulation resources are no longer limited to generators • Removed reference to “trading regulation” • In Section 12.2.5.2, corrected the incorrect reference to 12.3.5.1 to the correct location: 12.2.5.1 • M-29 Billing • Minor edit to correct capitalization of “regulation market” • Updated the description of regulation credits and charges that will appear on billing invoices

  4. Summary of Changes to Market Manuals • Note: changes from drafts presented at the February MC meeting are shown in red. • M-35 Definitions and Abbreviations • Terms that are defined in Section I.2.2 or III.F are deleted • Terms that are no longer relevant are deleted • Primarily because there is no more “self-scheduling for regulation” • Updated the definition of “Redeclaration” to include ATRRs • Reinstated the definition of Generator Regulation Credits • This term is eliminated as part of the new NCPC design, which does not go into effect until Q4 2014. • M-RPA Registration and Performance Audits • ATRRs added to Section 1.1.2 Roles and Responsibilities • New Section 1.9 added to address ATRR registration procedures

  5. Summary of Changes to Market Manuals • Note: changes from drafts presented at the February MC meeting are shown in red. • M-REG Regulation Market • Inclusion of references to new tariff sections • Offer requirements and offer timing • Eligibility requirements • Settlement • Recognize there are now two different clearing prices • Recognize the resources other than generators will be able to provide regulation • Updated timing for the selection of regulation resources • Updated discussion of regulation resource testing and evaluation • Inclusion of references to relevant operating procedures • Deleted a superfluous “hourly” from Section 1.1(3)(b)

  6. Summary of Changes to Market Manuals • Reminder – in summer 2013 the content of M-11 (Operations) related to regulation was moved into a brand new M-REG manual • Therefore, no changes for Order 755 are required in M-11

  7. M-REG – Review of Proposed Changes (1)

  8. M-REG – Review of Proposed Changes (2)

  9. M-REG – Review of Proposed Changes (3)

  10. Next Steps • If the Markets Committee acts on the Manual changes n March, the PC review would occur in April. • Otherwise, • Request MC vote at April MC meeting • PC review at May 2014 meeting to support a late-May effective date

More Related