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Matt Mereness ERCOT Manager Day-Ahead Market and CRR Auction

ERCOT Protocol Actions Needed : - Minimum CRR Option Bid Price - Consideration of CRR Auction Revenue Distribution. Matt Mereness ERCOT Manager Day-Ahead Market and CRR Auction. Protocol Approval requirements.

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Matt Mereness ERCOT Manager Day-Ahead Market and CRR Auction

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  1. ERCOT Protocol Actions Needed:- Minimum CRR Option Bid Price - Consideration of CRR Auction Revenue Distribution Matt Mereness ERCOT Manager Day-Ahead Market and CRR Auction ERCOT Public

  2. Protocol Approval requirements • Short-term: TAC and the ERCOT Board shall review the current minimum PTP Option Bid Price at least every January • Longer-term: Protocol expiration of CRR Auction Revenue Distribution Methodology in December 2013 ERCOT Public

  3. Short Term: Minimum CRR Option Bid Price 7.7 Point-to-Point (PTP) Option Award Fee • 7.7.1 Charging of PTP Option Award Fee (1) ERCOT will charge each Congestion Revenue Right (CRR) Account Holder a Point-to-Point (PTP) Option Award Fee for each PTP Option bid awarded where the clearing price for the PTP Option bid awarded is less than the Minimum PTP Option Bid Price. • The Technical Advisory Committee (TAC) and the ERCOT Board shall review the current Minimum PTP Option Bid Price at least every January and may recommend to the ERCOT Board changes to these values by submitting a Nodal Protocol Revision Request (NPRR). Minimum Point-to-Point (PTP) Option Bid Price • A value of $0.010 representing the minimum price that can be submitted into the CRR Auction for a PTP Option bid. ERCOT does not see a need for a change in the value. ERCOT Public

  4. Longer Term: Protocol expiration of CRR Auction Revenue Distribution Methodology • 7.5.7  Method for Distributing CRR Auction Revenues • (2)  Prior to December 1, 2013, ERCOT shall credit the net CRR Auction revenue (including PCRR revenue) produced from CRRs cleared in each CRR Auction that source from a Settlement Point located within a 2003 ERCOT Congestion Management Zone (CMZ) and sink at a Settlement Point located within the same 2003 ERCOT CMZ to Qualified Scheduling Entities (QSEs) in the 2003 ERCOT CMZ on a zonal Load Ratio Share (LRS) basis.  All other net CRR Auction revenues must be allocated to QSEs on an ERCOT-wide LRS basis.  For these allocation purposes, any Non-Opt-In Entity (NOIE) Load Zone is considered to be located entirely within the 2003 ERCOT CMZ that represented the largest Load for that NOIE or group of NOIEs in 2003.  Before the end of the three-year period described above, the ERCOT Board shall consider whether to extend the policy or ratify some other alternative. • ERCOT asks that stakeholders consider if any policy changes are needed: • Recommend stakeholder review for policy consideration • Board review and approval due in late 2013 • If NPRR and system changes are needed then timing becomes an issue • ERCOT can support analysis if necessary in the decision process ERCOT Public

  5. Potomac summary reflecting current distribution ERCOT Public

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