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CSWG Update to COPS 02/14/2012

CSWG Update to COPS 02/14/2012. Jim Galvin. Settlement Observations- LZ to Hub Dec 2011/Jan 2012. Settlement Observations- LZ to Hub Jan Year over Year. Cost to Serve Load- January 2012v 2011. Settlement Observations- January 2012. Cost to Serve Load Jan 2012-

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CSWG Update to COPS 02/14/2012

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  1. CSWG Update to COPS02/14/2012 Jim Galvin

  2. Settlement Observations- LZ to Hub Dec 2011/Jan 2012 Meeting Title (optional)

  3. Settlement Observations- LZ to Hub Jan Year over Year Meeting Title (optional)

  4. Cost to Serve Load- January 2012v 2011

  5. Settlement Observations- January 2012 • Cost to Serve Load Jan 2012- • Revenue Neutrality down to normal levels • RTSPP Analysis Dec 2011- • Milder weather led to prices averaging at “normal” levels • Count of high price intervals (North Zone) • Greater than $500- 0 • Greater than $1,000- 0 • Greater than $100- 24 • Less than $18- 846 • West Zone: Less than $18- 1,320 • 344 instances of negative prices • RUC charges less than $50 K assigned solely to entities short • BPD charges total $240 K

  6. Combined Charter- CSWG The CSWG will support COPS in the following areas: • Review and analyze Nodal Settlement Anomalies and work with ERCOT staff to gain better understanding of results • Evaluate improvements and changes to settlement and invoicing process with consideration of credit concerns, cash clearing and dispute maintenance and settlement timeline • Maintain Nodal Settlements Handbook and Commercial Market Guide as its primary source documents updating for market changes • Ensure commercial information in the form of Reports, Extracts and Notices provide market participants with necessary and timely information and work with ERCOT to ensure information flow is capable and manageable by staff • Provide and receive input on system design changes that impact middle and back office systems around settlement and information

  7. Update on Revenue Neutrality • QMWG met to discuss the events of November 24 and 30 where outages and congestion events created significant negative pricing at certain settlement points • Settlements for Revenue Neutrality were significant on these two days • Revenue Neutrality tracked at $0.73/MWh, normalized (excluding Nov 24, 30) $0.21 • ERCOT staff provide information as to how the price can clear at extreme negative values • Initial discussion indicated that prices for Nov 24 may be recalculated (issue to be taken to the Board), however, November 30 prices appear to be correct • Driver of high Revenue Neutrality on both days are PTP Obligations settled in Real Time with no Imbalance offset • Detailed example and summary of operational issues will be discussed at next CSWG meeting

  8. Current Initiatives • NPRR 347 • Monthly updates from Project Team • Invoice prototypes to be presented and discussed at next meeting • Settlement Handbook • Updates and revisions strategy will be discussed at next meeting • Outline COPS Handbook changes for the coming year • Balancing Account resettlements • Next Meeting February 27 in Austin

  9. Questions? Meeting Title (optional)

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