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R7.3: Mock Monthly Allocation/Auction ( Un structured) An update (week 2)

R7.3: Mock Monthly Allocation/Auction ( Un structured) An update (week 2). EDS 3 Release 7 (CRR) March 21 st , 2008. Table of contents. Status of R7.3 activity – week 2 (credit limits and bids) R7.2 auction invoices General issues Credit Limit Explanation 24 Hour Bid Explanation

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R7.3: Mock Monthly Allocation/Auction ( Un structured) An update (week 2)

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  1. R7.3: Mock Monthly Allocation/Auction(Unstructured) An update (week 2) EDS 3 Release 7 (CRR) March 21st, 2008

  2. Table of contents Status of R7.3 activity – week 2 (credit limits and bids) R7.2 auction invoices General issues Credit Limit Explanation 24 Hour Bid Explanation Next week: auction results, auction invoices and bilateral trades

  3. Status of R7.3 activity – week 2 (credit limits and bids) • 1 new participant completed R7.1 catch-up activity Constellation Energy Commodities Group • Total participants completed R7.1 = 56 • 40 participants successfully submitted CRR Market Credit Limit (71% participation) • 42 participants successfully submitted self-created bid portfolios (75% participation) Accent Energy Texas LP FPL Energy Upton Wind IILP AEP Energy Texas Inc FPL Energy Upton Wind III LP American Electric Power Service Corp FPL Energy Upton Wind IV LP Brazos Electric Power Cooperative Inc Goldman Sachs City of Austin Green Mountain Energy Company City of Garland Indian Mesa Wind Farm LP (LCRA) Constellation Energy Commodities Group Indian Mesa Wind Farm LP (TXU) Coral Power IPA Marketing Inc CPS Energy Just Energy Savings Corp DB Energy Trading LLC Keystone Energy Partners LP Direct Energy LP Lower Colorado River Authority DTE Energy Trading Luminant Energy Company LLC Eagle Energy Partners I LP NRG Texas Power LLC Edison Mission Marketing & Trading Inc Occidental Power Services Inc EnergyCo Marketing & Trading LLC Rainbow Energy Marketing Corp EPIC Merchant Energy TX LLC Reliant Energy Power Supply LLC First Choice Power LP Sempra Energy Solutions LLC FPL Energy Power Marketing Inc Sempra Energy Trading LLC FPL Energy Pecos Wind I LP South Texas Electric Cooperative FPL Energy Pecos Wind II LP StarTex Power FPL Energy Upton Wind I LP West Texas Wind Energy Partners

  4. R7.2 auction invoices • R7.2 auction invoices are posted at http://nodal.ercot.com/readiness/reports/si/index.html • Invoice files available in html or xml (note: search for your organization’s DUNS in the file name) • 2 issues in auction invoices – see next slide

  5. General issues • Intermittent CP and CRR AH role access on Tuesday (but all certs work now) • 2 issues with auction invoices: • CRR system not able to provide PCRR prices to settlements (yet) • 1 other issue created error in the auction results file and auction invoices Received several responses from MPs, but yet to have a shiny dollar winner!!!

  6. Credit Limit Information • Credit Limits are binding constraints in the auction • Sum of credit consumption of awarded bids must be less than the credit limit. 7.5.5.3 (1)(a) ERCOT shall enter into the CRR Auction engine model a credit constraint for each Counter-Party. A Counter-Party’s CRR Auction credit limit is equal to the lesser of the credit limit as determined in Section 16.11.4.6.1, Credit Requirements for CRR Auction Participation, or, if provided, the Counter Party’s self-imposed CRR Auction credit limit. The credit constraint for each Counter-Party ensures that the following sum for all of the Counter-Party’s CRR Account Holders is less than or equal to the Counter-Party’s CRR Auction credit limit: • (i) all awarded CRR Auction Bids multiplied by the absolute value of the corresponding bid price; plus • (ii) all awarded CRR Auction Offers with negative offer prices multiplied by the absolute value of their corresponding offer price; plus • (iii) the additional credit requirement for all awarded PTP Obligations.

  7. Counterparty Credit Constraint • Counterparty Credit Limits • Entered with Counterparty Certificate (CP certificate) • Must be less than or equal to total credit limit determined by ERCOT credit group • Sum of budget consumption for all awarded bids associated with all account holders must be less than this number. • Determines how credit is divided between CRR and other markets. • If no number is entered, is assumed to be zero.

  8. Account Holder Credit Limit • Entered with Account holder certificate (CRR) • Must be less than or equal to credit assigned to market by counterparty • Sum of all associated account holder awarded bids budget consumption must be less than this number. • Does not determine how credit is divided between CRR and other markets. • If no number is entered, is assumed to be equal to counterparty assigned credit limit. • If a counterparty has two or more associated account holders than the sum of the associated account holder credit limits CAN be greater than the counterparty assigned credit for the auction.

  9. 24 Hour bids • 24 Hour Bids are available in MONTHLY auctions only. • They are linked across the three times of use (Peak WD, Peak WE, Off-Peak) • If a 24 Hour Bid is awarded a CRR Account Holder will receive three CRRs (Peak WD, Peak WE, Off-Peak) with the same MW and the same clearing price. • An account holder could enter three separate bids, one for each time of use. In that case the awards would most likely have different MW values and different clearing prices, even if the bid MW and $ were the same.

  10. Next week: auction results, auction invoices and bilateral trades NOIEs: Submit nominations **submission window ends Mar 13th 11:59PM Discuss PCRR & MCFRI allocation results; review activities/status R7.2 overview & demo (Latecomers only) R7.1 catch-up All: Download pre-auction info (OPTIONAL) All: Submit bids (& SICL) **submission window ends Mar 20th 11:59PM Overview of week activities & demo Review activities and status CP: submit credit limit All: Initiate and accept bilateral trades All: Download auction results & invoice R7.3 Conclusion Overview of week activities & demo Test scripts for eligible NOIEs only: a. Submit PCRR nominations b. Download PCRR allocation results Test script for McCamey WGRs only: c. Download MCFRI allocation results Test script for Counter Parties (CP)* only: d. Submit CRR Market Credit Limit Test scripts for ALL R7 participants: 1. Download pre-auction information 2. Submit bid portfolio 3. Submit Self-Imposed Credit Limit (SICL) 4. Download auction market results 5. Create a sell/buy bilateral trade posting 6. Accept a sell/buy bilateral trade posting

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