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Transmission Rights

Transmission Rights. The Markets. IMO - Administered Markets. Financial. Physical. Real-time. Operating Reserve. Capacity Reserve. Energy. Procurement. Energy Forward. Transmission Rights. Ancillary Services. Must Run Contracts. Participant.

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Transmission Rights

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  1. Transmission Rights

  2. The Markets IMO - Administered Markets Financial Physical Real-time Operating Reserve Capacity Reserve Energy Procurement Energy Forward Transmission Rights Ancillary Services Must Run Contracts

  3. Participant • The company or organization that is authorized to participate in the Financial Transmission Rights Market E.g., Company Light-Bright

  4. Users From Company Light-Bright Users: • The various people within a member company that are authorized to participate in auctions on behalf of their company. Kim Mike Joe Greg

  5. Interconnection Features Manitoba Ontario Quebec Minnesota New York Michigan

  6. Congestion Occurs when physical capability of the transmission system cannot meet market requirements

  7. External Market(New York Example) IMO-Administered Markets Ontario Proxy Bus NY Intertie Zone Ontario New York MWs Exported from New York MWs Imported to Ontario Transfer of MWs from one market to the other is achieved when both markets are navigated successfully Import of Energy Into Ontario

  8. $24 $22 $16 $14 $22 $12 $14 $10 $12 $10 Intertie Zone MCP: Offers/No Congestion Ontario MCP = 16 Import Scheduling Limit Intertie Zone

  9. $22 $14 $12 $10 16 - no congestion 14 12 Intertie Zone MCP: Offers/Congestion $24 $22 $16 Ontario MCP = 16 Ontario $14 $12 $10 Import Scheduling Limit Intertie Zone MCP Intertie Zone

  10. $1000 Dispatchable Load Served $500 $16 MCP = 16 $14 $1000 $12 Dispatchable Load Not Served $500 $10 $12 $10 Boundary Entity Load Not Served Intertie Zone MCP: Bids/No Congestion Ontario Intertie Zone Scheduling Limit 400 Mw

  11. $1000 $500 $16 $14 $1000 $12 $500 $10 $12 $10 1000 500 16 Dispatchable Load Not Served Dispatchable Load Not Served Dispatchable Load Not Served Intertie Zone MCP: Bids/Congestion Dispatchable Load Served Ontario MCP = 16 Ontario Dispatchable Load Not Served Scheduling Limit Intertie Zone MCP Intertie Zone

  12. Bids and Offers in Intertie Zones Bids Offers $1000 $100 $500 $500 $16 $16 $14 $12 $12 $10 $10

  13. ICP Real Time ICP + MCP Intertie Energy Price Settlement Price for Withdrawals and Injections - Pre Dispatch Zone Price Uniform Market Clearing Price in Ontario

  14. Fixed Load Dispatchable Load Dispatchable Generation Available to algorithm to optimize Fixed Generation Self-Scheduling Imports Price ($/MW) Real Time MCP Calculation MMCP Non Dispatchable Load Exports MCP Primary Demand Exports -MMCP Quantity (MW)

  15. Time Structure • Period of time for which transmission rights are being sold. • Three components: • Duration for which rights are valid • Days of the week • Hours of the day

  16. Time Structure - Business Rules • Times are based on a 24 hour clock and are defined in “hour ending” units • Times correspond to EST (throughout the year) • Bids for portions of time within a time structure will not be not accepted.

  17. 12 Hour 1 11 Hour 2 10 3 9 4 5 8 7 6 Time Structure

  18. ON - NY New York is the withdrawal zone Ontario is the injection zone Transmission Paths A transmission path specifies the injection and withdrawal zones for transmission and is designated by abbreviation pairs.

  19. Long-term TR Auctions Short-term TR Auctions How Are FTRs Acquired? Transmission Rights

  20. Long-term and Short-term TRs Intertie upper limit forecast by IMO Mw Month

  21. Long-term and Short-term TRs Intertie upper limit forecast by IMO Mw Short Term TR Long Term TR Month

  22. Long-term and Short-term TRs Intertie upper limit forecast by IMO Mw Short Term TR Month

  23. Long-term and Short-term TRs MW Intertie upper limit forecast by IMO LT 1 Month

  24. Long-term and Short-term TRs MW LT 4 LT 3 ST LT 2 LT 1 Month

  25. Long-term and Short-term TRs MW ST Month

  26. Long-term and Short-term TRs MW ST Month

  27. Rounds A round is an attempt to sell a product within an auction. Products can be sold in multiple attempts rather than all at once. Auction: ST-May all hours all days Round 1 Round 2 Round 3

  28. Auction: ST- May all hours all days Total Power = 1000 MW Round 1 20% of total power sold Round Fraction = 0.20 800 MW Remain Round 2 50% of remaining power sold Round Fraction = 0.50 400 MW Remain Round 3 (Final) 100% of remaining power sold Round Fraction = 1.00 No MW Remain Round - Example

  29. Long Term Sub Auctions MW LT SA2 LT SA3 LT SA4 ST LT SA1 Month

  30. LT SA2 LT SA3 LT SA4 LT SA2 LT SA3 LT SA4 LT SA1 LT SA1 Long Term Sub Auctions MW ST ST ST ST ST Month

  31. LT Sub Auctions and Rounds MW LT SA1 R3 LT SA2 LT SA3 LT SA4 ST LT SA1 R2 LT SA1 R1 Month

  32. Bid A bid in the TR Auction System consists of three key pieces of information: Transmission Path Quantity Price/MW

  33. T.R. Long-term TR Auctions Short-term TR Auctions Financial Transmission Rights How Are FTRs Acquired? Transmission Rights

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