1 / 8

CRR Auction Structure Enhancements(NPRR463) Impacts to Settlements

This Nodal Protocol Revision Request (NPRR) NPRR463 introduces semi-annual CRR Auctions, replacing the annual auction. Monthly auction activities remain unchanged, running parallel. Effective April 1, 2013, this revision affects market calls, with the first affected invoice issued by May 17, 2013.

francescom
Download Presentation

CRR Auction Structure Enhancements(NPRR463) Impacts to Settlements

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. CRR Auction Structure Enhancements(NPRR463) Impacts to Settlements

  2. NPRR463 Review • This Nodal Protocol Revision Request (NPRR) replaces the annual Congestion Revenue Right (CRR) Auction with a semi-annual sequence of four consecutive six-month CRR Auctions selling CRRs up to two years in the future • Monthly auction activities are not changed by NPRR463 and will continue to run in parallel to the Long-Term Auction Sequences • Effective April 1, 2013 • Market Calls done on March 20 and 22 • First Auction Invoice affected will be issued by May 17, 2013 • Full presentation used for Market Call is in http://www.ercot.com/calendar/2013/03/20130322-CRR • Excerpts are taken from there and used in this presentation

  3. Auction Structure - 1x/Year In 4th Quarter of each year, sell next 2 years of CRRs at monthly granularity in an annual 12-month optimization - Year 1 on 55% Model - Year 2 on 15% Model - Optimize each time-of-use across multi-period months for annual - Monthly auction is 90% and optimize across 3 times of use Retired Annual 90% of System/Model in Monthly Auction Year 1 55% of Model OnPeak WkDay OffPeak OnPeakWkEnd Year 2 15% of Model OnPeak WkDay OffPeak OnPeakWkEnd ERCOT Public

  4. 2013 Auction Structure - 2x/Year In 2nd and 4th Quarter of each year, sell next 2 years of CRRs at monthly granularity in an 6-month optimization - First 6-months at 60%, Second 6-months 45%, Third at 30%, Fourth at 15% - Optimize each time-of-use across multi-period months for annual - Monthly auction is 90% and optimize across 3 times of use 90% of System/Model in Monthly Auction 60% 45% 30% 15% ERCOT Public

  5. Spring 2013 CRR Calendar- Long-term Auction Sequences MAY JUNE JULY Sequence1 July-Dec 2013 70% Sequence2 Jan-Jun 2014 45% Credit Lock and Run dates April29-May17, 2013 Sequence3 July-Dec 2014 30% Credit Lock and Run dates May20-Jun7, 2013 Sequence4 Jan-Jun 2015 15% Credit Lock and Run dates June10-28, 2013 Credit Lock and Run dates Jul1-19, 2013 • Per NPRR521, allocation is 70% only for the Initial CRR Long-Term Auction Sequence ERCOT Public

  6. Winter 2013 CRR Calendar- Long-term Auction Sequences NOV DEC JAN FEB Sequence1 Jan-Jun 2014 60% Sequence2 Jul-Dec 2014 45% Credit Lock and Run dates Oct28-Nov15, 2013 Sequence3 Jan-Jun 2015 30% Credit Lock and Run dates Nov18-Dec6, 2013 Sequence4 Jul-Dec 2015 15% Credit Lock and Run dates Jan6-Jan24, 2014 Credit Lock and Run dates Jan27-Feb14, 2014 ERCOT Public

  7. CRR Auction Schedule • CRR Activity Calendar posted in http://www.ercot.com/mktinfo/crr/

  8. Effect of Naming Convention to CARD Extracts • CRR Auction Revenue Distribution (CARD) Extract • Report name 0000000000000000-CRROUTPUTHEADER_CARD_PUBLIC.csv • Bill Determinants contain suffix of CRR Auction Code – derived from CRR Auction Name • For Annual Auctions, CRR Auction Code will have format YYYY-N-S • YYYY is the year for the Auction • N is 1 for 1st6 (January-June) or 2 for 2nd6 (July-December) • S is sequence number 1 to 4 • Sample BDs: OBLPAMTNZTOT_ANN-14 • OBLPAMTNZTOT_2014-1-1 • OBLPAMTNZTOT_2014-1-2 • OBLPAMTNZTOT_FEB-14 • OBLPAMTZTOT_HOUSTON_ANN-14 • OBLPAMTZTOT_HOUSTON_2014-1-1 • OBLPAMTZTOT_HOUSTON_2014-1-2 • OBLPAMTZTOT_HOUSTON_FEB-13 • Note: ANN-14 is based on old CRR Auction Naming convention that was already completed for year 2014

More Related