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NEPOOL Participants Committee Meeting Waterville Valley, NH March 11, 2005

NEPOOL Participants Committee Meeting Waterville Valley, NH March 11, 2005. Stephen G. Whitley Senior Vice President & COO. Agenda. System Operations Market Operations Overall Uplift Back-Up Detail. System Operations. Operations Highlights. Boston & Hartford Weather Pattern:

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NEPOOL Participants Committee Meeting Waterville Valley, NH March 11, 2005

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  1. NEPOOL Participants Committee Meeting Waterville Valley, NH March 11, 2005 Stephen G. Whitley Senior Vice President & COO

  2. Agenda • System Operations • Market Operations • Overall Uplift • Back-Up Detail

  3. System Operations

  4. Operations Highlights • Boston & Hartford Weather Pattern: • Temperatures for February were slightly below normal in the Boston area with slightly above temperatures in the Hartford area. Precipitation was slightly below normal in both areas. • Peak load of 19,892 MW at 19:00 hours on February 1, 2005. • During February: • NPCC Shared Activation of Reserve Events: • February 2 NE – Granite Ridge @ 743 Mw • February 9 IMO – Bruce 7 @ 800 Mw • February 9 NE – Mystic 9 @ 600 Mw • February 16 NYISO – Ginna @ 500 Mw • MS2 • Implemented for Southeast CT 1330 hours (2/27) to 2000 hours (3/1)

  5. Market Operations

  6. Day–Ahead & Real-Time Prices, ISO Hub: Note: Natural Gas source is Algonquin Citygates Price.

  7. Congestion Component LMP Marginal Loss Component Day-Ahead–LMP Average by Zone & Hub: February 1, 2005 to February 28, 2005 : Day-Ahead LMPs (1.15%) (0.12%) (0.58%) (-0.38%) (-2.34%) (-2.16%) (-2.66%) -7.65%)

  8. Congestion Component LMP Marginal Loss Component Real-Time-LMP Average by Zone & Hub: February 1, 2005 to February 28, 2005: Real Time LMPs (0.55%) (1.35%) (0.13%) (-1.28%) (-2.14%) (-2.31%) (-2.39)% (-6.65%)

  9. Day - Ahead Market vs. Forecast Load

  10. Day - Ahead LMP

  11. 150.00 Norwalk Stamford Interface Loss of the 394 Line onto 379 Line constraint binding due to 91001 constraint binding due to 326 Line Line out of service for maintenance. out of service. Boston Interface constraint 130.00 binding during peak load period due to trip of 339 Line earlier in the day. Morning/Evening load pickup. 110.00 90.00 70.00 50.00 30.00 10.00 01/29/2005 01 01/31/2005 01 02/02/2005 01 02/04/2005 01 02/06/2005 01 02/08/2005 01 02/10/2005 01 02/12/2005 01 02/14/2005 01 02/16/2005 01 02/18/2005 01 02/20/2005 01 02/22/2005 01 02/24/2005 01 02/26/2005 01 Day Real - Time LMP Real-Time LMP January 27, 2005 Through February 26, 2005 $/MWh 01/27/2005 01 INTERNAL_HUB CONNECTICUT MAINE NEMASSBOST NEWHAMPSHIRE RHODEISLAND SEMASS VERMONT WCMASS

  12. 76% 74.39% 74% 73.10% 71.84% 72.14% 72% 70.86% 70.36% 70.94% 70.57% 70.00% 70.13% 70% 69.59% 68% % RT Load Fully Hedged 67.62% 66% 64% 63.12% 62% 61.98% 60% Jan-04 Feb-04 Mar-04 Apr-04 May-04 Jun-04 Jul-04 Aug-04 Sep-04 Oct-04 Nov-04 Dec-04 Jan-05 Feb-05 Month % Hedged Load Average % Hedged Load Settlement Data – Real Time & Balancing Market Minimum % Of Real Time Load Fully Hedged

  13. Overall Uplift

  14. Uplift Analysis – February 2005 • Monthly MWh by market and zone • Monthly MWh by market and type • Uplift payments as % of energy market • OATT billed • Energy market billed • Monthly and YTD totals • Data through February 26, 2005 (except where noted)

  15. What is Uplift? • “Make-whole” payments made to resources whose hourly commitment and dispatch by the ISO resulted in a shortfall between the resource’s offered value in the Energy and Regulation Markets and the revenue earned from output over the course of the day. • Typically, this is the result of some out-of-merit operation of resources occurring in order to protect the overall resource adequacy and transmission security of the (specific locations or for the entire) control area.

  16. Uplift MWh by Market and Zone MWh totals reported are the total hourly MWh for uplift flagged units.

  17. Uplift MWh By Market and Type MWh totals reported are the total hourly MWh for uplift flagged units.

  18. Uplift Payments as % of Energy Market Value 2003 values reflect only SMD months Energy Market value derived as the sum over all locations of the product of locational load obligation and price by hour in the Day-Ahead Market, and locational price and Real-Time Load Obligation Deviation in the Real-Time Market.

  19. VAR and SCR Uplift Payments as % of Energy Market Value 2003 values reflect only SMD months Energy Market value derived as the sum over all locations of the product of locational load obligation and price by hour in the Day-Ahead Market, and locational price and Real-Time Load Obligation Deviation in the Real-Time Market.

  20. Action Proposals: VAR Uplift Reduction

  21. Economic and Daily RMR Uplift Payments as % of Energy Market Value Feb-05: CT: 0.8% NEMA: 4.4% 2003 values reflect only SMD months Energy Market value derived as the sum over all locations of the product of locational load obligation and price by hour in the Day-Ahead Market, and locational price and Real-Time Load Obligation Deviation in the Real-Time Market.

  22. Daily RMR Uplift Payments as % of Energy Market Value Feb-05: CT: 0.4% NEMA: 1.6% 2003 values reflect only SMD months Energy Market value derived as the sum over all locations of the product of locational load obligation and price by hour in the Day-Ahead Market, and locational price and Real-Time Load Obligation Deviation in the Real-Time Market.

  23. Action Proposals: Daily RMR Uplift Reduction

  24. Monthly and YTD Total Uplift MWh $Mil. Month YTD Note: Overall uplift includes out of merit DA and RT Economic, RMR, VAR, and RT SCR components. MWh totals reported are the total hourly MWh for uplift flagged units.

  25. Day-Ahead vs. Real-Time Pricing • This month vs. prior years • Day-ahead cleared load vs. real-time • Zonal and total inc’s and dec’s • De-listed capacity • Self-schedules • Day-ahead vs. real-time net interchange

  26. Day-Ahead vs. Real-Time LMPs ($/MWh) Full month’s data. • Potential Reasons: • Day-Ahead load obligations higher than Real-Time load obligations • De-listed units not offered in Day-Ahead market but scheduled in Real-Time. • Units that self-schedule after close of Day-Ahead Market. • Real-time imports that exceed day-ahead imports. • Interface limit changes that occur resulting from transmission topology changes leading units to be self- or ISO- scheduled after close of Day-Ahead Market • Units committed by ISO as part of RAA process. 12003 values reflect only SMD months

  27. Day-Ahead Load Obligation Percentof Real-Time Load Obligation

  28. Zonal Increment Offers and Cleared Amounts Full month’s data.

  29. Zonal Decrement Bids and Cleared Amounts Full month’s data.

  30. Total Increment Offers and Decrement Bids Full month’s data.

  31. De-listed Capacity, February 2005 Full month’s data.

  32. Dispatchable vs. Non-Dispatchable Generation Full month’s data.

  33. Day-Ahead vs. Real-Time Net InterchangeFebruary 2005 vs. February 2004 Positive values are net imports. Full month’s data.

  34. Action Proposals: Price Convergence

  35. Definitions

  36. Back-Up Detail

  37. Demand Response

  38. Demand Response(Status as of March 1, 2005)

  39. Demand Response, Con’t. (Status as of March 1, 2005) * SWCT assets are included in CT values and are not included in Total

  40. New Generation

  41. New Generation Update Generation Projects with Proposed Plan Approval1 • No new resources were added in February. • Approximately 110 MW of capacity expected on line by the end of the year. • Status of Generation Projects as of March 4, 2005: No.MW In Construction 2 33.3 Not in Construction 7 1, 400 Nuclear Uprates 5 265 1 Proposed Plan approvals are pursuant to Section I.3.9 of the ISO New England Inc. Transmission, Markets and Services Tariff.

  42. RSP (Regional System Plan)

  43. RSP Update • RSP05 • Transmission Update reviewed by RC and PAC on 3/2. To be reviewed by SPARC on 3/17. • PAC02 held on 3/3. • Detailed draft outline of RSP05 under development. • Inter-ISO Update • Inter-ISO Planning Liaison Committee (IPLC) • Final Draft Northeast Consolidated Plan (NCP) reviewed 3/8 and to be issued to Stakeholders on 3/31. • NPCC • NERC Blackout issues being addressed through NPCC (RCC Meeting 3/9). • TFCP provided input to the NERC TIS on issues 13C (Voltage and Reactive Management) and 23 (Study of Reliability and Adequacy).

  44. Stage Description 1 Planning and Preparation of Project Configuration 2 Pre-construction (e.g., material ordering, project scheduling) 3 Construction in Progress 4 Completed RSP Project Stage Descriptions

  45. NSTAR 345 kV Transmission Reliability Project Status as of March 7, 2005 Project Benefit: Improves New England reliability by addressing Boston Area concerns and increasing Boston Import Limit from 3,600 MW to approximately 4,500 MW. Expected Original Present Upgrade In-service In-service Stage Phase 1 Stoughton 345 kV Substation Jun-06 Jun-06 2 Stoughton - Hyde Park 345 kV Jun-06 Jun-06 2 Stoughton - K Street 345 kV #1 Jun-06 Jun-06 2 Phase 2 Stoughton - K Street 345 kV #2 Dec-07 Dec-07 2 • New Boston 1 needed until project completed. • Received RC recommendation for 18.4 approval 12/13/04 and 12C approval 7-29-04. Includes additional analysis of harmonics/transient overvoltage. • EFSB/DTE approval on 12/23/04. • TCA determination letter from ISO-NE expected Spring 2005. • Long-term solution is functioning Resource Adequacy market to incent generation to locate in the most appropriate areas, with the ability to do gap RFP’s to address timing issues.

  46. North Shore Upgrades Status as of March 7, 2005 Project Benefit: Maintains system reliability for the North Shore area independent of Salem Harbor generation. Expected Original Present Upgrade In-service In-service Stage Ward Hill Upgrades Add 3 transformers at Ward Hill Jun-06 Jun-06 1 Reconductor several 115kV lines Jun-06 Jun-06 1 Salem Harbor capacitor banks Jun-06 Jun-06 1 Wakefield Junction New Wakefield Junction SS Jun-08 1 Jun-08 • MA DTE review in progress; ruling due early 2005 • 18.4 application for Ward Hill upgrades expected early 2005 • Salem Harbor needed at least until NGRID North Shore upgrades (2006 earliest). These units provide operating reserves for the current system as well as insurance for delays in transmission projects. • Long-term solution is functioning Resource Adequacy market to incent generation to locate in the most appropriate areas, with the ability to do gap RFP’s to address timing issues.

  47. Expected Original Present Upgrade In-service In-service Stage Phase 1 Norwalk 345 kV Substation Dec-04 Dec-06 3 Plumtree 345 kV Substation Dec-04 Dec-06 3 Norwalk - Plumtree 345 kV Dec-06 Dec-04 2 Associated 115 kV Line Work Dec-04 Dec-06 2 Phase 2 Beseck 345 kV Substation Dec-09 Jan-06 1 East Devon 345 kV Substation Dec-09 Jan-06 1 Singer 345 kV Substation Jan-06 Dec-09 1 Beseck - East Devon 345 kV Jan-06 Dec-09 1 East Devon - Singer 345 kV Jan-06 Dec-09 1 Singer - Norwalk 345 kV Jan-06 Dec-09 1 Associated 115 kV Line Work Dec-09 Jan-06 1 Notes Phase 1: • Siting review complete; appeal denied. • Detailed engineering continues and some construction started. • TCA Application • Received 1-12-05 • RC and public meeting discussions held; another public hearing to be scheduled for March • Consultants doing final review of transient/harmonic analyses. Notes Phase 2: • Siting review in progress, ruling due April 2005. • Final ROC report complete; recommended proceeding with 24 miles of UG XLPE cable. • 2/14 (technical meeting) and 2/17 (ROC Report) hearings completed. All issues resolved with KEMA, the Siting Council’s consultant. SWCT 345 kV Transmission Reliability Project Status as of March 7, 2005 Project Benefit: Improves New England reliability by addressing SWCT concerns. Increases SWCT Import Limit from 2,000 MW to approximately 3,400 MW.

  48. Northeast Reliability Interconnect Project Status as of March 7, 2005 Project Benefit: Improves New England reliability by improving inter-area transfer capability and eliminating various protection/stability concerns. Expected Original Present Upgrade In-service In-service Stage Orrington, ME - Pt. Lepreau, NB 345 kV Dec-07 Dec-08 1 • Siting approved for Canadian section of line. • DOE & Maine DEP review processes (approx. 1 year) have started. Expect conclusion Fall 2005.

  49. NWVT 345 kV Transmission Reliability Project Status as of March 7, 2005 Project Benefit: Improves New England reliability by addressing NWVT concerns, bringing another source into the Burlington area. Expected Original Present Upgrade In-service In-service Stage New Haven 345 kV Substation May-06 Oct-05 2 West Rutland - New Haven 345 kV May-06 Nov-05 2 New Haven - Queen City 115 kV Mar-07 Oct-06 2 Granite STATCOM/Upgrades Oct-07 Oct-07 2 • Sandbar Phase Angle Regulator in service. • Conditional Siting approval received 1/28/05. The major conditions of the Siting Order are: • 1.3 miles of 115 kV in Bay Road area ordered underground. • New Haven substation to be relocated, if feasible. • System studies necessary that address the impacts of placing more 115 kV underground. • Telephone, electric distribution, and cable TV lines required to be put underground in some areas. • Order under review

  50. Southern New England Reliability Project Status as of March 7, 2005 Project Benefit: Improves New England reliability by increasing transfer limits of three critical interfaces, including Connecticut Import Limit Expected Original Present Sample Upgrade In-service In-service Stage Millbury - Sherman Rd. 345 kV 2011 Dec-08 1 Sherman Rd. - Lake Rd. 345 kV 2011 Dec-08 1 Lake Rd. - Card St. 345 kV 2011 Dec-08 1 345 kV Substation Modifications 2011 Dec-08 1 • Planning studies in progress; completion scheduled for June 2005. • Project specifics may change; preferred alternatives to be determined September 2005. • Project planning and coordination meetings continuing. • 18.4 Approval goal: July 2006

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