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CRR Shortfalls

CRR Shortfalls. Jim Galvin. CRR Shortfalls and Balancing Account. Nodal Market rules were designed to make all attempts to “make whole” CRR holders in the Day Ahead Market (DAM)

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CRR Shortfalls

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  1. CRR Shortfalls Jim Galvin

  2. CRR Shortfalls and Balancing Account • Nodal Market rules were designed to make all attempts to “make whole” CRR holders in the Day Ahead Market (DAM) • Market rules will create a short fall in a given hour for CRR holders when there are insufficient “Congestion Rents” collected • Congestion Rents fund the CRRs as well as CRRs that are paid to ERCOT (CRRs on the counter flow of congestion) • CRR Balancing Account (CRRBA) is funded in any hour that Congestion Rents exceed CRRs to be paid • At the end of each month, the CRRBA is utilized to “make whole” any CRR holders who were short paid in the month • After make whole, any funds remaining in the CRRBA are given back to Load Meeting Title (optional)

  3. Balancing Account Components • Day Ahead Congestion Rent • Sum of all Day-Ahead Energy Purchase and Sales, RMR Day-Ahead Energy and Day Ahead to Real Time Obligation settlement • Day-Ahead CRR Credit Total (green elements from previous slide) DACRRCRTOT • Credits for Day-Ahead Obligations and Options including refund amounts and Day-Ahead Flow Gate Rights • Day-Ahead CRR Charge Total (red elements) DACRRCHTOT • Charges for Day-Ahead Obligations including refund charge Meeting Title (optional)

  4. De-Rated CRRs • CRRs that have source-sink path where either the source or the sink are a resource are subject to de-rate • Source-sink pairs with resources can de-rate the Hedge Value of the CRR based on Shift Factors for the resource on the path constraint • Source-sink pairs that are Load Zone to Hub, Load Zone to Load Zone or Hub to Hub are not subject to de-rate • CRRs are fully funded; however, shortfalls based on lack of Congestion Rents will exist for CRR holders who are owed money in the settlement interval • De-rated CRRs with resource as source or sink are subject to both de-rate and shortfall Meeting Title (optional)

  5. CRR Short Fall Estimate • The following slide will examine the estimated payout to Load from the Balancing Account and the CRR’s short paid due to under collection of Congestion Rents (under-funded Balancing Account) • Table represents Channel 1 data (Initial Settlement) and provides Nodal-to-Date view Meeting Title (optional)

  6. Balancing Account and Short Fall Estimate Totals

  7. Questions? Meeting Title (optional)

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