Texas Nodal 1 Texas Nodal Settlements Mini-Market - CRR July 31, 2007.
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Transcript of Texas Nodal 1 Texas Nodal Settlements Mini-Market - CRR July 31, 2007.
Texas Nodalhttp://nodal.ercot.com 1
Texas Nodal
Settlements Mini-Market - CRR
July 31, 2007
Texas Nodalhttp://nodal.ercot.com 2
Roadmap
• Introduction of CRR in Texas Nodal Market
• Nodal Settlements Mini-Market – CRR– Day-Ahead Market CRR Settlements– Real-Time CRR Settlements– Daily CRR Balancing Account
Texas Nodalhttp://nodal.ercot.com 3
Texas Nodal- Texas Nodal CRR Introduction -
July 31, 2007
Texas Nodalhttp://nodal.ercot.com 4
What is a CRR?
• Congestion Revenue Rights– Definition:
• A Congestion Revenue Right (CRR) is a financial instrument that entitles the CRR Owner to be charged or to receive compensation for congestion rents that arise when the ERCOT Transmission Grid is congested in the Day-Ahead Market (DAM) or in Real-Time (RT).
• CRRs do not represent a right to receive, or obligation to deliver, physical energy.
– Types of CRRs:• Point-to-Point (PTP) CRR:
– Obligations (some maybe PCRRs)– Options (some maybe PCRRs)– Obligations with Refund (all PCRRs)– Options with Refund (all PCRRs)
• Flowgate Right (FGR)
Texas Nodalhttp://nodal.ercot.com 5
CRR Traits
• Traits of a CRR– Acquired in 3 Time of Use Blocks:
• Weekday Peak (5*16, excluding holidays)• Weekend Peak (2*16, including holidays)• Off Peak (7*8)• Same MW amount for each hour in the TOU block
– Defined in Unit of MW
– Financially Binding (Owners are paid/charged regardless of their actual energy schedule or generation)
– Do not represent a right for physical delivery
Texas Nodalhttp://nodal.ercot.com 6
PTP CRR
• PTP CRR :
– PTP Obligation, PTP Option, PTP Obligation with Refund, PTP Option with Refund
– Described from a Source (Injection) Settlement Point to a Sink (Withdrawal) Settlement Point:
– Source/Sink Settlement Point can be:• Resource Node• Load Zone• Trading Hub
Texas Nodalhttp://nodal.ercot.com 7
PTP Obligation
• PTP Obligation can be either a payment or charge to CRR Owners depending on the direction of congestion in relation to the PTP Obligation.
– A revenue entitlement from ERCOT to CRR Owners when congestion is in the same direction as the PTP Obligation
Sink Source
150 MW
LMP = $20/MWhLMP = $30/MWh
Limit: 100 MW
50 MW100 MW
PTP Obligation Price = LMP sink – LMP source = 10 $/MW
Texas Nodalhttp://nodal.ercot.com 8
PTP Obligation - continued
• PTP Obligation can be either a payment or charge to CRR Owners depending on the direction of congestion in relation to the PTP Obligation.
– A charge to CRR Owners when congestion is in the opposite direction as the PTP Obligation
Source Sink
150 MW
LMP = $20/MWhLMP = $30/MWh
Limit: 100 MW
PTP Obligation Price = LMP sink – LMP source = - 10 $/MW
50 MW100 MW
Texas Nodalhttp://nodal.ercot.com 9
PTP Option
• PTP Option never results in a charge to CRR Owners.
– A revenue entitlement from ERCOT to CRR Owners when congestion is in the same direction as the PTP Option
Sink Source
150 MW
LMP = $20/MWLMP = $30/MW
Limit: 100 MW
50 MW100 MW
PTP Option Price = Max(0, LMP sink – LMP source ) = 10 $/MW per hour
Same Value as PTP Obligation
Texas Nodalhttp://nodal.ercot.com 10
PTP Option - continued
• PTP Option never results in a charge to CRR Owners.
– Zero value when congestion is in the opposite direction as the PTP Option
Source Sink
150 MW
LMP = $20/MWLMP = $30/MW
Limit: 100 MW
50 MW100 MW
PTP Option Price = Max(0, LMP sink – LMP source ) = 0 $/MW per hour
PTP Obligation would be negative value
Texas Nodalhttp://nodal.ercot.com 11
PTP CRR with Refund
• PTP Obligations with Refund and PTP Options with Refund
– It is evaluated in the same manner as a PTP Obligation or PTP Option.
– All are PCRRs.
– The NOIE will be paid the minimum of: PCRR Actual Usage or PCRR with refund MW amount.
Texas Nodalhttp://nodal.ercot.com 12
Flowgate Right
• Flowgate – Predefined directional network element or a predefined bundle of
directional network elements
• Flowgate Right– McCamey Area flowgates are the only flowgates where FGRs are
available in ERCOT– It never results in a charge to CRR Owners
Texas Nodalhttp://nodal.ercot.com 13
CRR Acquisition
Day-Ahead Market
CRR Market
Settlements
Annual / Monthly CRR Auction
Bilateral MarketMcCamey Area Flowgate Rights
Allocations
PCRR Allocation
PTP Obligation
Texas Nodalhttp://nodal.ercot.com 14
Texas Nodal
Overview:
Settlements Mini-Market - CRR July 31, 2007
Texas Nodalhttp://nodal.ercot.com 15
Settlement Mini-Market CRR Overview
• “Settlements Mini-Market – CRR” cover:– CRR Settlements in Day-Ahead Market– CRR Settlements in Real-Time (when there’s Day-Ahead Market)– CRR Settlements in Real-Time (when there’s no Day-Ahead Market)– Daily CRR Balancing Account Settlements
• “Settlements Mini-Market – CRR” set Scenarios for: – CRR Types:
• Point-to-Point Obligation • Point-to-Point Obligation with Refund• Point-to-Point Option• Point-to-Point Option with Refund• Flowgate Right
– CRR Account Owners:• NOIE CRR Owner• Non-NOIE CRR Owner
– Power Company– Financial Institute
Texas Nodalhttp://nodal.ercot.com 16
Mini-System Description
SettlementSettlement PointPoint
Settlement Settlement Point TypePoint Type ResourceResource LoadLoad
ElectricalElectrical BusBus
4060_RNResourceNode Mandy_G1 -- Bus 2
4071_RNResourceNode RMR_G1 -- Bus 3
4072_RNResourceNode
ANNA_GT5,INO_NUKEUMIT1 -- Bus 4
4075_RNResourceNode
WIND1, WIND2,WIND3 -- Bus 6
NORTH_LZ Load Zone -- Load A & B Bus 1 & 3
SOUTH_LZ Load Zone -- Load C & D Bus 4 & 5
WEST_LZ Load Zone -- Load E & F Bus 2 & 6
NORTH_HUB Trading Hub -- -- Bus 1 & 3
SOUTH_HUB Trading Hub -- -- Bus 4 & 5
WEST_HUB Trading Hub -- -- Bus 2 & 6
ERCOT_345HUB Trading Hub -- --Bus 1, 2, 3, 4 & 5
Texas Nodalhttp://nodal.ercot.com 17
Mini-System Description – Continued
BranchBranch FromFrom ToToReactanceReactance (X)(X)
Line Limit Line Limit (MW)(MW)
Bus1-Bus2 1 2 0.0020 100
Bus1-Bus3 1 3 0.0025 150
Bus6-Bus1 6 1 0.0020 75
Bus3-Bus2 3 2 0.0010 200
Bus2-Bus5 2 5 0.0020 150
Bus6-Bus2 6 2 0.0020 100
Bus4-Bus3 4 3 0.0015 200
Bus5-Bus4 5 4 0.0020 200
Bus2-Bus1 2 1 0.0020 100
Bus3-Bus1 3 1 0.0025 150
Bus1-Bus6 1 6 0.0020 75
Bus2-Bus3 2 3 0.0010 200
Bus5-Bus2 5 2 0.0020 150
Bus2-Bus6 2 6 0.0020 100
Bus3-Bus4 3 4 0.0015 200
Bus4-Bus5 4 5 0.0020 200
Texas Nodalhttp://nodal.ercot.com 18
Texas Nodal
Settlements Mini-Market - CRR
Day-Ahead Market - CRR Settlements
July 31, 2007
Texas Nodalhttp://nodal.ercot.com 19
Day-Ahead CRR Settlement Overview
• DA CRR Settlement Scenarios:
• Unconstrained Network (No Congestion) – Interval 2, Interval 6, and Interval 20
• Constrained Network (with Congestion)– Other Intervals
Texas Nodalhttp://nodal.ercot.com 20
High-Level Day-Ahead CRR Settlement Dependencies
Texas Nodalhttp://nodal.ercot.com 21
Day-Ahead CRR Global Calculations
• Global Calculations – Day-Ahead Option (DAOPT) and Day-Ahead Option with Refund
(DAOPTR)– Minimum Resource Price for Source Settlement Point (MINRESPR)– Maximum Resource Price for Sink Settlement Point (MAXRESPR)– Day-Ahead Obligation Price (DAOBLPR)– Obligation Deration Price (OBLDRPR)– Day-Ahead Obligation Hedge Value Price (DAOBLHVPR)– Day-Ahead Option Price (DAOPTPR)– Option Deration Price (OPTDRPR)– Day-Ahead Option Hedge Value Price (DAOPTHVPR)
Texas Nodalhttp://nodal.ercot.com 22
Day-Ahead CRR Charge Types
• Day-Ahead Market Charge Types (5)– Payments and Charges for PTP Obligations Settled in DAM
(DAOBLAMT)– Payments and Charges for PTP Obligations with Refund Settled in
DAM (DAOBLRAMT)– Payments for PTP Options Settled in DAM (DAOPTAMT)– Payments for PTP Options with Refund Settled in DAM
(DAOPTRAMT)– Payments for FGR Settled in DAM (DAFGRAMT)
Texas Nodalhttp://nodal.ercot.com 23
Day-Ahead Obligation Price (DAOBLPR)
– Day-Ahead Obligation Price (DAOBLPR) is the difference between the Day-Ahead Settlement Point Prices at the sink Settlement Point and the source Settlement Point
DAOBLPR = DASPP_<SKSP> - DASPP_<SRSP>
– The value of DAOBLPR ($/MW per hour) could be negative, zero, or positive
Example:
CRR Hour EndingDASPP at Sink
($/MWh)DASPP at Source
($/MWh)DAOBLPR
($/MW per Hr)
PTP Obligation: 4060_RN → 4071_RN
2 14.28 14.28 0
PTP Obligation: 4060_RN → 4071_RN
10 74.60 86.89 -12.29
PTP Obligation: 4060_RN → 4071_RN
18 67.13 57.62 9.51
DASPP = Day-Ahead Settlement Point Price; DAOBLPR = Day-Ahead Obligation Price<SRSP> = Source Settlement Point; <SKSP> = Sink Settlement Point
Texas Nodalhttp://nodal.ercot.com 24
Day-Ahead Option Price (DAOPTPR)
– Day-Ahead Option Price (DAOPTPR) is the positive difference between the Day-Ahead Settlement Point Prices at the sink Settlement Point and the source Settlement Point
DAOPTPR = Max(0, DASPP_<SKSP> - DASPP_<SRSP>)
– The value of DAOPTPR ($/MW per hour) shall always be ≥ zero
Example:
CRR Hour EndingDASPP at Sink
($/MWh)DASPP at Source
($/MWh)DAOPTPR
($/MW per Hr)
PTP Option: 4060_RN →SOUTH_HUB
2 14.28 14.28 0
PTP Option: 4060_RN →SOUTH_HUB
10 68.86 86.89 0
PTP Option: 4060_RN →SOUTH_HUB
18 61.11 57.62 3.49
DASPP = Day-Ahead Settlement Point Price; DAOBLPR = Day-Ahead Obligation Price<SRSP> = Source Settlement Point; <SKSP> = Sink Settlement Point
Texas Nodalhttp://nodal.ercot.com 25
Obligation Deration Price (OBLDRPR)
– For PTP Obligations that has a positive value (i.e., DAOBLPR > 0) and either its source or sink is a Resource Node, the PTP Obligation payment may be reduced (derated) due to directional network elements that are oversold in previous CRR auctions. Obligation Deration Price (OBLDRPR) is one of the prices calculated for CRR deration.
OBLDRPR_<SRSP>_<SKSP> = {Max (0, DAWASF_<SRSP>_<C> - DAWASF_<SKSP>_<C>)
c
* DASP_<C> * DRF_<C>}
Example:Table 1: Day-Ahead Weighted Average Shift Factor (Hour Ending 18)
Table 2: Day-Ahead Shadow Price and Deration Factor (Hour Ending 18)
Table 3: Calculated Obligation Deration Price (Hour Ending 18)
Settlement Point
DA Weighted Shift Factor(DAWASF)
Constraint I(BASE
SBus4ToBus3)
Constraint II(BASE
SBus3ToBus2)
Constraint III(BASE SBus6ToBus2)
Constraint IV(BASE
SBus4ToBus5)
Constraint V(BASE
SBus6ToBus1)
4060_RN (Slack Bus) 0.0000 0.0000 0.0000 0.0000 0.0000
4071_RN -0.1260 0.6932 0.0603 0.1260 -0.0603
ConstraintDASP
($/MW per Hr)DRF
I 3.12 0.02
II 0 0.01
III 0 0.12
IV 0 0.03
V 151.3 0.09
CRROBLDRPR
($/MW per Hr)
PTP Obligation:4060_RN → 4071_RN 0.83
DAWASF = Day-Ahead weighted average shift factor for source/sink Settlement Point for the ConstraintDASP = Day-Ahead Shadow Price for the ConstraintDRF = Deration Factor for the Constraint<SRSP> = Source Settlement Point; <SKSP> = Sink Settlement Point ;<C> = A Constraint
Texas Nodalhttp://nodal.ercot.com 26
Option Deration Price (OPTDRPR)
– For PTP Options with a source or a sink that is a Resource Node, the PTP Option payment may be reduced (derated) due to directional network elements that are oversold in previous CRR auctions. Option Deration Price (OPTDRPR) is one of the prices calculated for CRR deration.
OPTDRPR_<SRSP>_<SKSP> = {Max (0, DAWASF_<SRSP>_<C> - DAWASF_<SKSP>_<C>)
c
* DASP_<C> * DRF_<C>} Example:
Table 1: Day-Ahead Weighted Average Shift Factor (Hour Ending 18)
Table 2: Day-Ahead Shadow Price & Deration Factor (Hour Ending 18)
Table 3: Calculated Option Deration Price (Hour Ending 18)
Settlement Point
DA Weighted Shift Factor
Constraint I(BASE
SBus4ToBus3)
Constraint II(BASE
SBus3ToBus2)
Constraint III(BASE
SBus6ToBus2)
Constraint IV(BASE
SBus4ToBus5)
Constraint V(BASE
SBus6ToBus1)
4060_RN (Slack Bus) 0.0000 0.0000 0.0000 0.0000 0.0000
SOUTH_HUB 0.4767 0.3781 0.0329 0.0233 -0.0329
ConstraintDASP
($/MW per Hr)DRF
I 3.12 0.02
II 0 0.01
III 0 0.12
IV 0 0.03
V 151.3 0.09
CRROPTDRPR
($/MW per Hr)
PTP Option:4060_RN → SOUTH_HUB 0.45
DAWASF = Day-Ahead weighted average shift factor for source/sink Settlement Point for the ConstraintDASP = Day-Ahead Shadow Price for the ConstraintDRF = Deration Factor for the Constraint<SRSP> = Source Settlement Point; <SKSP> = Sink Settlement Point ;<C> = A Constraint
Texas Nodalhttp://nodal.ercot.com 27
Minimum Resource Price (MINRESPR)
– Minimum Resource for Resource located at source Settlement Point (MINRESRPR)• If a Generation Resource is RMR unit,
MINRESRPR = (FIP + RMRCEFA) * RMRCHRLSL(RMRCEFA and RMRCHRLSL are RMR Contract specified values)
If a Generation Resource is not RMR unit, and belongs to: Nuclear, Hydro, Coal and Lignite, Wind, or Other Renewable generating units,
MINRESRPR = MINRESPRVALUE• If a Generation Resource is not RMR Unit, and belongs to: Combined Cycle, Gas-Steam Supercritical Boiler,
Gas-Steam Reheat Boiler, Gas-Steam Non-Reheat or Boiler without Air-Preheater, Simple Cycle, or Diesel generating units,
MINRESRPR = FIP * MINRESHR(MINRESPRVALUE, and MINRESHR are specified by Nodal Protocols for various Resource Types)
– Minimum Resource Price for source Settlement Point (MINRESPR)• The lowest Minimum Resource Price for the types of Resources (MINRESRPR) located at the source Settlement
Point ($/MWh) rn
MINRESPR_<SRSP> = MIN (MINRESRPR_<R>_<SRSP>)Example: R=r1
SettlementPoint
ResourceResource
TypeFIP
($/MMBtu)MINRESPRVALUE
($/MWh)MINRESHR
(MMBtu/MWh)MINRESRPR
($/MWh)MINRESPR
($/MWh)
4072_RN
NO_NUKEUMIT1 Nuclear 7.39 -20 --- -20
-20ANNA_GT5
Simple Cycle ≤ 90MW
7.39 --- 11 81.29
MINRESPRVALUE = Minimum Resource Price for Resource Type specified by Protocols; MINRESHR = Minimum Resource Price Heat Rate specified by ProtocolsFIP = Fuel Index Price
Texas Nodalhttp://nodal.ercot.com 28
– Maximum Resource for Resource located at sink Settlement Point (MAXRESRPR)• If a Generation Resource is RMR unit,
MAXRESRPR = (FIP + RMRCEFA) * RMRCHRHSL(RMRCEFA and RMRCHRHSL are RMR Contract specified values)
If a Generation Resource is not RMR unit, and belongs to: Nuclear, Hydro, Coal and Lignite, Wind, or Other Renewable generating units,
MAXRESRPR = MAXRESPRVALUE• If a Generation Resource is not RMR Unit, and belongs to: Combined Cycle, Gas-Steam Supercritical Boiler,
Gas-Steam Reheat Boiler, Gas-Steam Non-Reheat or Boiler without Air-Preheater, Simple Cycle, or Diesel generating units,
MAXRESRPR = FIP * MAXRESHR(MAXRESPRVALUE, and MAXRESHR are specified by Nodal Protocols for various Resource Types)
– Maximum Resource Price for sink Settlement Point (MAXRESPR)• The highest Maximum Resource Price for the types of Resources (MAXRESRPR) located at the sink Settlement
Point ($/MWh) rn
MAXRESPR_<SRSP> = MAX (MAXRESRPR_<R>_<SRSP>) Example: R=r1
Maximum Resource Price (MAXRESPR)
SettlementPoint
ResourceResource
TypeFIP
($/MMBtu)MAXRESPRVALUE
($/MWh)MAXRESHR
(MMBtu/MWh)MAXRESRPR
($/MWh)MAXRESPR
($/MWh)
4072_RN
NO_NUKEUMIT1 Nuclear 7.39 15 --- 15
110.85ANNA_GT5
Simple Cycle ≤ 90MW
7.39 --- 15 110.85
MAXRESPRVALUE = Maximum Resource Price for Resource Type specified by Protocols; MAXRESHR = Maximum Resource Price Heat Rate specified by ProtocolsFIP = Fuel Index Price
Texas Nodalhttp://nodal.ercot.com 29
Day-Ahead Obligation Hedge Value Price (DAOBLHVPR)
• For PTP Obligations that has a positive value (i.e., DAOBLPR > 0) and either its source or sink is a Resource Node, the PTP Obligation payment may be reduced (derated) due to directional network elements that are oversold in previous CRR auctions. Day-Ahead Obligation Hedge Value Price (DAOBLHVPR) is one of the prices calculated for CRR deration.
• Calculation of DAOBLHVPR depends on the source and sink Settlement Point pair configuration• If source Settlement Point is a Load Zone/Hub and sink Settlement Point is a Resource Node
– DAOBLHVPR_<SRSP>_<SKSP>= Max (0, MAXRESPR_<SKSP> – DASPP_<SRSP>)• If source Settlement Point is a Resource Node and sink Settlement Point is a Load Zone/Hub
– DAOBLHVPR_<SRSP>_<SKSP>= Max (0, DASPP_<SKSP> – MINRESPR_<SRSP>)• If both source and sink Settlement Points are Resource Nodes
– DAOBLHVPR_<SRSP>_<SKSP>= Max (0, MAXRESPR_<SKSP> – MINRESPR_<SRSP>)
Example:Table 1: Day-Ahead Settlement Point Price, Minimum Resource Price, & Maximum Resource Price (Hour Ending 18)
Table 2: Calculated Day-Ahead Obligation Hedge Value Price (Hour Ending 18)
Settlement Point Settlement TypeDASPP ($/MWh)
Minimum Resource Price
($/MWh)
Maximum Resource Price
($/MWh)
4060_RN Resource Node 57.62 81.29 110.85
4071_RN Resource Node 67.13 133.38 148.2
CRRDAOBLHVPR($/MW per Hr)
PTP Obligation4060_RN → 4071_RN 66.91
MINRESPR = Minimum Resource Price for source Settlement PointMAXRESPR = Maximum Resource Price for sink Settlement PointDASPP = Day-Ahead Settlement Point Price
Texas Nodalhttp://nodal.ercot.com 30
Day-Ahead Option Hedge Value Price (DAOPTHVPR)
• For PTP Options with a source or a sink that is a Resource Node, the PTP Option payment may be reduced (derated) due to directional network elements that are oversold in previous CRR auctions. Day-Ahead Option Hedge Value Price (DAOPTHVPR) is one of the prices calculated for CRR deration.
• Calculation of DAOPTHVPR depends on the source and sink Settlement Point pair configuration• If source Settlement Point is a Load Zone/Hub and sink Settlement Point is a Resource Node
– DAOPTHVPR_<SRSP>_<SKSP>= Max (0, MAXRESPR_<SKSP> – DASPP_<SRSP>)• If source Settlement Point is a Resource Node and sink Settlement Point is a Load Zone/Hub
– DAOPTHVPR_<SRSP>_<SKSP>= Max (0, DASPP_<SKSP> – MINRESPR_<SRSP>)• If both source and sink Settlement Points are Resource Nodes
– DAOPTHVPR_<SRSP>_<SKSP>= Max (0, MAXRESPR_<SKSP> – MINRESPR_<SRSP>)
Example:Table 1: Day-Ahead Settlement Point Price, Minimum Resource Price, & Maximum Resource Price (Hour Ending 18)
Table 2: Calculated Day-Ahead Option Hedge Value Price (Hour Ending 18)
Settlement Point Settlement TypeDASPP ($/MWh)
Minimum Resource Price
($/MWh)
Maximum Resource Price
($/MWh)
4060_RN Resource Node 57.62 81.29 110.85
SOUTH_HUB Trading Hub 61.11 ---- ----
CRRDA OPTHVPR($/MW per Hr)
PTP Option4060_RN → SOUTH_HUB 0
MINRESPR = Minimum Resource Price for source Settlement PointMAXRESPR = Maximum Resource Price for sink Settlement PointDASPP = Day-Ahead Settlement Point Price
Texas Nodalhttp://nodal.ercot.com 31
Day-Ahead Option (DAOPT) and Day-Ahead Option with Refund (DAOPTR)
– Day-Ahead Option (DAOPT) and Day-Ahead Option with Refund (DAOPTR)• DAOPT – CRR Owner’s PTP Options that are settled in the Day-Ahead Market for a
source and sink Settlement Point pair (MW)
DAOPT = OPT – RTOPTDAOPTR – NOIE CRR Owner’s PTP Options with Refund that are settled in the Day-Ahead Market (MW)
DAOPTR = OPTR – RTOPTR
Example:
OPT – CRR Owner’s PTP Options, acquired through PCRR Allocations, CRR Auctions, and CRR Bilateral Trades, with the source and sink pair, prior to Day-Ahead Market executionOPTR – NOIE CRR Owner’s PTP Options with Refund, acquired through PCRR Allocations by NOIEs, with the pair of source and sink, prior to Day-Ahead Market execution RTOPT / RTOPTR– NOIE CRR Owner’s PTP Options / PTP Options with Refund with the pair of source and sink, settled in Real-Time
CRR CRR Owner Hour EndingOPT / OPTR
(MW)RTOPT / RTOPTR
(MW)DAOPT (MW)
PTP Option: 4060_RN → SOUTH_HUB(OPT_CO2_4060_RN_SOUTH_HUB)
CO2 (Power Co.)
18 75.6 0 75.6
PTP Option: 4072_RN → SOUTH_LZ(OPT_CO4_4072_RN_SOUTH_LZ) CO4 (NOIE)
18 120.5 95 25.5
Texas Nodalhttp://nodal.ercot.com 32
Day-Ahead Obligation Amount (DAOBLAMT)
– Day-Ahead Obligation Amount (DAOBLAMT) is the payment or charge to a CRR Owner for its PTP Obligations with the pair of source/sink settled in the Day-Ahead Market• Exception: For a PTP Obligation that has a positive value (DAOBLPR > 0) and source or sink at a Resource
Node, the payment may be reduced due to directional network elements that are oversold in previous CRR auctions.
– If DAOBLPR ≤ 0 OR both source and sink Settlement Points are Load Zones/HubsDAOBLAMT = (-1) * DAOBLTP
– If DAOBLPR > 0 AND either source or sink Settlement Point is a Resource NodeDAOBLAMT = (-1) * Max {(DAOBLTP – DAOBLDA), Min (DAOBLTP, DAOBLHV)}
Where: DAOBLTP = DAOBLPR * DAOBL ; DAOBLDA = OBLDRPR * DAOBL; DAOBLHV = DAOBLHVPR * DAOBL
Example:Table 1: Calculated Day-Ahead Obligation Target Payment, Day-Ahead Obligation Derated Amount, & Day-Ahead Obligation Hedge Value
(Hour Ending 18)
Table 2: Calculated Day-Ahead Obligation Amount (Hour Ending 18)
CRR Owner
CRRDAOBL
(MW)
DAOBLPR($/MW per
Hr)
DAOBLTP($)
OBLDRPR ($/MW per
Hr)
DAOBLDA($)
DAOBLHVPR ($/MW per Hr)
DAOBLHV($)
CO1PTP Obligation
4060_RN → 4071_RN 125.2 9.51 1,190.65 0.83 103.92 66.91
8,377.13
CRR Owner
CRR Source Point Type Sink Point TypeDAOBLAMT
($)
CO1PTP Obligation
4060_RN → 4071_RNResource Node Resource Node
- $ 1,190.65
DAOBL= Day-Ahead Obligation; DAOBLPR = Day-Ahead Obligation Price; DAOBLTP = Day-Ahead Obligation Target Payment; OBLDRPR = Obligation Deration Price; DAOBLDA = Day-Ahead Obligation Derated Amount; DAOBLHVPR = Day-Ahead Obligation Hedge Value Price; DAOBLHV = Day-Ahead Obligation Hedge Value
“-” is a payment
Texas Nodalhttp://nodal.ercot.com 33
Day-Ahead Obligation Other Calculations
– Other Output Bill Determinants
DAOBLCROTOT_<CO> = Min (0, DAOBLAMT_<CO>) SRSP SKSP
DAOBLCHOTOT_<CO> = Max (0, DAOBLAMT_<CO>) SRSP SKSP
DAOBLAMTOTOT_<CO> = DAOBLCROTOT_<CO> + DAOBLCHOTOT_<CO>
DAOBLCRTOT = DAOBLCROTOT_<CO> CO
DAOBLCHTOT = DAOBLCHOTOT_<CO> CO
Texas Nodalhttp://nodal.ercot.com 34
Day-Ahead Option Amount (DAOPTAMT)
– Day-Ahead Option Amount (DAOPTAMT) is the payment to a CRR Owner for its PTP Options with the pair of source/sink settled in the Day-Ahead Market
• Exception: For a PTP Option that source or sink at a Resource Node, the payment may be reduced due to directional network elements that are oversold in previous CRR auctions.
– If both source and sink Settlement Points are Load Zones/HubsDAOPTAMT = (-1) * DAOPTTP
– If either source or sink Settlement Point is a Resource NodeDAOPTAMT = (-1) * Max {(DAOPTTP – DAOPTDA), Min (DAOPTTP, DAOPTHV)}
Where:DAOPTTP = DAOPTPR * DAOPT; DAOPTDA = OPTDRPR * DAOPT; DAOPTHV = DAOPTHVPR * DAOPT
Example:
Table 1: Calculated Day-Ahead Option Target Payment, Day-Ahead Option Derated Amount, & Day-Ahead Option Hedge Value (Hour Ending 18)
Table 2: Calculated Day-Ahead Option Amount (Hour Ending 18)
CRR Owner
CRRDAOPT(MW)
DAOPTPR ($/MW per
Hr)
DAOPTTP ($)
OPTDRPR($/MW per
Hr)
DAOPTDA ($)
DAOPTHVPR($/MW per
Hr)
DAOPTHV($)
CO2PTP Option
4060_RN → SOUTH_HUB 75.6 3.49 263.84 0.45 34.02 0 0.00
CRR Owner CRR Source Point Type Sink Point TypeDAOPTAMT
($)
CO2PTP Option
4060_RN → SOUTH_HUBResource Node Trading Hub
- $229.82
DAOPT= Day-Ahead Option; DAOPTPR = Day-Ahead Option Price; DAOPTTP = Day-Ahead Option Target Payment; OPTDRPR = Option Deration Price; DAOPTDA = Day-Ahead Option Derated Amount; DAOPTHVPR = Day-Ahead Option Hedge Value Price; DAOPTHV = Day-Ahead Option Hedge Value
Texas Nodalhttp://nodal.ercot.com 35
Day-Ahead Option Other Calculations
– Other Output Bill Determinants
DAOPTAMTOTOT_<CO> = DAOPTAMT_<CO> SRSP SKSP
DAOPTAMTTOT = DAOPTAMTOTOT_<CO> CO
Texas Nodalhttp://nodal.ercot.com 36
Day-Ahead FGR Amount (DAFGRAMT) - MCFRI
– If all directional network elements associated with the FGR are Competitive Constraints, the payment to each CRR Owner for its FGRs determined by the principle network element of each flowgate for a given hour is:
DAFGRAMT = (-1) * DAFGRTP– If one or more directional network elements associated with MCFRI are Non-Competitive, the payment to each CRR Owner for its FGRs determined by the principle network element of each
flowgate for a given hour is:DAFGRAMT = (-1) * Max {(DAFGRTP – DAFGRDA), Min (DAFGRTP, DAFGRHV)}
Where:DAFGRTP = DAFGRPR * DAFGR; DAFGRHV = DAFGRHVPR * DAFGR; DAFGRDA = FGRDRPR * DAFGR
Example:
Table 1: Calculated Day-Ahead FGR Target Payment, Day-Ahead FGR Derated Amount, & Day-Ahead FGR Hedge Value (Hour Ending 11)
Table 2: Calculated Day-Ahead FGR Amount (Hour Ending 11)
CRR Owner
FGRDAFGR
(MW)DRF
DAFGRPR($/MW per
Hr)
DAFGRTP($)
FGRDRPR($/MW per
Hr)
DAFGRDA($)
DAFGRHVPR ($/MW per Hr)
DAFGRHV($)
CO5 MCFRI1 89.5 0.12 128.16 11470.32 15.38 1376.51 73.28 6558.56
CRR Owner FGRDA FGR Amount
($)
CO5 MCFRI1 - $10093.81
DAFGR= Day-Ahead FGR; DAFGRPR = Day-Ahead FGR Price; DAFGRTP = Day-Ahead FGR Target Payment; FGRDRPR = FGR Deration Price; DAFGRDA = Day-Ahead FGR Derated Amount; DAFGRHVPR = Day-Ahead FGR Hedge Value Price; DAFGRHV = Day-Ahead FGR Hedge Value
Texas Nodalhttp://nodal.ercot.com 37
Day-Ahead FGR Other Calculations
– Other Output Bill Determinants
DAFGRAMTOTOT_<CO> = DAFGRAMT_<CO>_<F> F
DAFGRAMTTOT = DAFGRAMTOTOT_<CO> CO
Texas Nodalhttp://nodal.ercot.com 38
Day-Ahead Obligation with Refund Amount (DAOBLRAMT)
– ERCOT shall pay the owner of a PTP Obligation with Refund the difference in the Day-Ahead Settlement Point Prices between the sink Settlement Point and the source Settlement Point, subject to a charge for refund, when the price difference is positive (DAOBLRAMT)• Exception: The payment of PTP Obligations with Refund may be further reduced due to transmission
elements that are oversold in previous CRR Auctions– If DAOBLPR ≤ 0: DAOBLRAMT = (-1) * DAOBLRTP– If DAOBLPR > 0: DAOBLRAMT = (-1) * Max {(DAOBLRTP – DAOBLRDA), Min (DAOBLRTP, DAOBLRHV)}
Where:
DAOBLRTP = DAOBLPR * Min (DAOBLR, OBLRACT); DAOBLRDA = OBLDRPR * Min (DAOBLR, OBLRACT); DAOBLRHV = DAOBLHVPR * Min (DAOBLR, OBLRACT)
Example:Table 1: Calculated Day-Ahead Obligation with Refund Target Payment, Day-Ahead Obligation with Refund Derated Amount, &
Day-Ahead Obligation with Refund Hedge Value (Hour Ending 11)
Table 2: Calculated Day-Ahead Obligation Amount (Hour Ending 11)
CRR Owner
CRROBLRACT
(MW)DAOBLR
(MW)
DAOBLPR($/MW per
Hr)
DAOBLRTP($)
OBLDRPR
($/MW per Hr)
DAOBLRDA($)
DAOBLRHV
($/MWh)
DAOBLRHV($)
CO4
PTP Obligation with Refund
4060_RN → NORTH_LZ
6.1 13 -13.82 -84.30 0.03 0.18 0 0
CRR Owner
CRRDAOBLRAMT
($)
CO4PTP Obligation with Refund
4060_RN → NORTH_LZ 84.30
OBLRACT = Obligation with Refund Actual UsageDAOBLR= Day-Ahead Obligation with Refund; DAOBLPR = Day-Ahead Obligation Price; DAOBLRTP = Day-Ahead Obligation with Refund Target Payment; OBLDRPR = Obligation Deration Price; DAOBLRDA = Day-Ahead Obligation with Refund Derated Amount; DAOBLHVPR = Day-Ahead Obligation with Refund Hedge Value Price;DAOBLRHV = Day-Ahead Obligation Hedge Value
Texas Nodalhttp://nodal.ercot.com 39
Day-Ahead Obligation with Refund Other Calculations
– Other Output Bill Determinants
DAOBLRCROTOT_<CO> = Min (0, DAOBLRAMT_<CO>) SRSP SKSP
DAOBLRCHOTOT_<CO> = Max (0, DAOBLRAMT_<CO>) SRSP SKSP
DAOBLRAMTOTOT_<CO> = DAOBLRCROTOT_<CO> + DAOBLRCHOTOT_<CO>
DAOBLRCRTOT = DAOBLRCROTOT_<CO> CO
DAOBLRCHTOT = DAOBLRCHOTOT_<CO> CO
Texas Nodalhttp://nodal.ercot.com 40
Day-Ahead Option with Refund Amount (DAOPTRAMT)
– ERCOT shall pay the owner of a PTP Option with Refund the difference in the Day-Ahead Settlement Point Prices between the sink Settlement Point and the source Settlement Point, if positive, subject to a charge for refund (DAOPTRAMT)
• Exception: The payment of PTP Options with Refund may be further reduced due to transmission elements that are oversold in previous CRR Auctions
DAOPTRAMT = (-1) * Max {(DAOPTRTP – DAOPTRDA), Min (DAOPTRTP, DAOPTRHV)}
Where:DAOPTRTP = DAOPTPR * Min (DAOPTR, OPTRACT * DAOPTR / (DAOPTR + RTOPTR))DAOPTRDA = OPTDRPR * Min (DAOPTR, OPTRACT * DAOPTR / (DAOPTR + RTOPTR))DAOPTRHV = DAOPTHVPR * Min (DAOPTR, OPTRACT * DAOPTR / (DAOPTR + RTOPTR))
Example:Table 1: Calculated Day-Ahead Option with Refund Target Payment, Day-Ahead Option with Refund Derated Amount, & Day-Ahead Option
with Refund Hedge Value (Hour Ending 24)
Table 2: Calculated Day-Ahead Option with Refund Amount (Hour Ending 24)
CRR Owner
CRROPTRACT
(MW)DAOPTR
(MW)RTOPTR
(MW)DAOPTPR
($/MWh)DAOPTRTP
($)
OPTDRPR ($/MW per
Hr)
DAOPTRDA($)
DAOPTHVPR
($/MWh)
DAOPTRHV($)
CO3
PTP Option with Refund:
4072_RN → NORTH_LZ 31.5 35 10 14.18 347.41 0 0 109.15 2674.18
CRR Owner CRRDAOPTRAMT
($)
CO3PTP Option with Refund:
4072_RN → NORTH_LZ- $347.41
OPTRACT = Option with Refund Actual UsageDAOPTR= Day-Ahead Option with Refund; RTOPTR= Real-Time Option with Refund; DAOPTPR = Day-Ahead Option Price;DAOPTRTP = Day-Ahead Option with Refund Target Payment; OPTDRPR = Option Deration Price; DAOPTRDA = Day-Ahead Option with Refund Derated Amount; DAOPTHVPR = Day-Ahead Option with Refund Hedge Value Price;DAOPTRHV = Day-Ahead Option Hedge Value
Texas Nodalhttp://nodal.ercot.com 41
Day-Ahead Option other Calculations
– Other Output Bill Determinants
DAOPTRAMTOTOT_<CO> = DAOPTRAMT_<CO> SRSP SKSP
DAOPTRAMTTOT = DAOPTRAMTOTOT_<CO> CO
Texas Nodalhttp://nodal.ercot.com 42
Texas Nodal
Settlements Mini-Market - CRR
Real-Time - CRR Settlements July 31, 2007
Texas Nodalhttp://nodal.ercot.com 43
High-Level Real-Time CRR Settlement Dependencies
Texas Nodalhttp://nodal.ercot.com 44
Real-Time CRR Calculations
• Global Calculations– Real-Time Obligation Price (RTOBLPR)– Real-Time Option Price (RTOPTPR)– Real-Time Option Hedge Value Price (RTOPTHVPR)
Texas Nodalhttp://nodal.ercot.com 45
Real-Time CRR Charge Types
• Real-Time Charge Types (when DAM is executed)– Payments and Charges for Real-Time Obligations Settled in Real-
Time (RTOBLAMT)– Payments for NOIE’s PTP Options Settled in Real-Time
(RTOPTAMT)– Payments for NOIE’s PTP Options with Refund Settled in Real-
Time (RTOPTRAMT)• Real-Time Charge Types (when DAM is not executed)
– No-DAM Real-Time Obligation Amount (NDRTOBLAMT)– No-DAM Real-Time Option Amount (NDRTOPTAMT)– No-DAM Real-Time Option with Refund Amount (NDRTOPTRAMT)– No-DAM Real-Time FGR Amount (NDRTFGRAMT)– No-DAM Real-Time Obligation with Refund Amount
(NDRTOBLRAMT)
Texas Nodalhttp://nodal.ercot.com 46
Real-Time Obligation Price (RTOBLPR)
– Real-Time Obligation Price (RTOBLPR) is the difference between the Real-Time Settlement Point Prices at the sink Settlement Point and the source Settlement Point
4
RTOBLPR = (RTSPP_<SKSP> - RTSPP_<SRSP>)i / 4 i = 1
Example:
CRR IntervalRTSPP at Sink
($/MWh)RTSPP at Source
($/MWh)RTOBLPR
($/MW per Hr)
PTP Obligation: 4071_RN SOUTH_LZ
3
i= 9 21.15i=10 25.22i=11 0.97 i=12 14.59
i= 9 18.36i=10 27.29i=11 12.17i=12 4.59
-0.12
PTP Obligation: 4071_RN SOUTH_LZ
24
i=93 47.97i=94 115.52i=95 141.95i=96 117.46
i=93 11.03i=94 54.57i=95 42.09i=96 136.97
44.56
i = 15-minute Settlement Interval;RTSPP = Real-Time Settlement Point Price ; RTOBLPR = Real-Time Obligation Price<SRSP> = Source Settlement Point; <SKSP> = Sink Settlement Point
Texas Nodalhttp://nodal.ercot.com 47
Real-Time Option Price (RTOPTPR)
– Real-Time Option Price (RTOPTPR) is the difference between the Real-Time Settlement Point Prices at the sink Settlement Point and the source Settlement Point
4
RTOPTPR = Max (0, RTSPP_<SKSP> - RTSPP_<SRSP>)i / 4i = 1
Example:
CRR IntervalRTSPP at Sink
($/MWh)RTSPP at Source
($/MWh)RTOPTPR
($/MW per Hr)
PTP Option: 4072_RN NORTH_LZ
17
i=65 7.46i=66 6.06i=67 2.71i=68 5.73
i=65 26.73i=66 14.31i=67 20.21i=68 16.33
0
PTP Option: 4072_RN NORTH_LZ
19
i=73 19.67i=74 243.32i=75 196.78i=76 192.95
i=73 106.07i=74 120.92i=75 9.81i=76 71.46
107.72
i = 15-minute Settlement Interval;RTSPP = Real-Time Settlement Point Price ; RTOPTPR = Real-Time Option Price<SRSP> = Source Settlement Point; <SKSP> = Sink Settlement Point
Texas Nodalhttp://nodal.ercot.com 48
Real-Time Option Hedge Value Price (RTOPTHVPR)
– For PTP Options with a source or a sink that is a Resource Node, the PTP Option payment may be reduced (derated) due to directional network elements that are oversold in previous CRR auctions. Real-Time Option Hedge Value Price (RTOPTHVPR) is one of the prices calculated for CRR deration.
– Calculation of RTOPTHVPR depends on the source and sink Settlement Point pair configuration
• If source Settlement Point is a Load Zone/Hub and sink Settlement Point is a Resource Node
4
RTOPTHVPR = Max (0, MAXRESPR_<SKSP> – RTSPP_<SRSP>)i / 4 i=1
• If source Settlement Point is a Resource Node and sink Settlement Point is a Load Zone/Hub
4
RTOPTHVPR = Max (0, RTSPP_<SKSP> – MINRESPR_<SRSP>)i / 4 i=1
• If both source and sink Settlement Points are Resource Nodes4
RTOPTHVPR = Max (0, MAXRESPR_<SKSP> – MINRESPR_<SRSP>)i / 4 i=1
MAXRESPR = Maximum Resource Price for sink Settlement PointMINRESPR = Minimum Resource Price for source Settlement PointRTSPP = Real-Time Settlement Point Price for source/sink Settlement Point
Texas Nodalhttp://nodal.ercot.com 49
Real-Time Obligation Amount (RTOBLAMT)
– ERCOT shall pay or charge the QSE of each PTP Obligation acquired in the Day-Ahead Market the difference in Real-Time Settlement Point Prices between the sink Settlement Point and the source Settlement Point
RTOBLAMT = (-1) * RTOBLPR * RTOBL
RTOBLAMTQSETOT_<Q> = RTOBLAMT_<Q>_<SRSP>_<SKSP> SRSP SKSP
Example:
Table 1: Calculated Real-Time Obligation Amount (Hour Ending 2)
CRR Owner CRRRTOBL(MW)
RTOBLPR ($/MW per Hr)
RTOBLAMT($)
QSE1PTP Obligation
4060_RN NORTH_HUB 25.80 -4.31 111.20
QSE2PTP Obligation
SOUTH_HUB NORTH_LZ 97.30 3.01 - $292.87
RTOBL = Real-Time ObligationRTOBLPR = Real-Time Obligation Price<SRSP> = Source Settlement Point<SKSP> = Sink Settlement Point
Texas Nodalhttp://nodal.ercot.com 50
Real-Time Option Amount (RTOPTAMT)
– ERCOT shall pay the NOIE CRR Owner that owns a PTP Option that was declared before Day-Ahead Market execution by the NOIE to be settled in Real-Time and not cleared in the Day-Ahead Market, the positive difference in Real-Time Settlement Point Prices between the sink and the source. (RTOPTAMT)
• Exception: For a PTP Option that source or sink at a Resource Node, the payment may be reduced due to directional network elements that are oversold in previous CRR auctions.
– If both source and sink Settlement Points are Load Zones/Hubs
RTOPTAMT = (-1) * RTOPTTP
– If either source or sink Settlement Point is a Resource Node
RTOPTAMT = (-1) * Max {(RTOPTTP – RTOPTDA), Min (RTOPTTP, RTOPTHV)}
Where
RTOPTTP = RTOPTPR * RTOPT; RTOPTDA = OPTDRPR * RTOPT; RTOPTHV = RTOPTHVPR * RTOPT
Example:
Table 1: Calculated Real-Time Option Target Payment, Real-Time Option Derated Amount, & Real-Time Option Hedge Value (Hour Ending 11)
Table 2: Calculated Real-Time Option Amount (Hour Ending 11)
CRR Owner
CRRRTOPT(MW)
RTOPTPR ($/MW per
Hr)
RTOPTTP ($)
OPTDRPR($/MW per
Hr)
RTOPTDA ($)
RTOPTHVPR($/MW per Hr)
RTOPTHV($)
CO4PTP Option
4072_RN → SOUTH_LZ 95 9.26 879.70 0.07 6.65 79.83 7583.85
CRR Owner
CRRRTOPTAMT
($)
CO4PTP Option
4072_RN → SOUTH_LZ - $879.70
RTOPT = Real-Time OptionRTOPTPR = Real-Time Option PriceRTOPTTP = Real-Time Option Target PaymentOPTDRPR = Option Deration PriceRTOPTDA = Real-Time Option Derated AmountRTOPTHVPR = Real-Time Option Hedge Value PriceRTOPTHV = Real-Time Option Hedge Value
Texas Nodalhttp://nodal.ercot.com 51
Real-Time Option Amount (RTOPTAMT) (continued)
– Other Output Bill Determinants
RTOPTAMTOTOT_<CO> = RTOPTAMT_<CO>_<SRSP>_<SKSP> SRSP SKSP
RTOPTAMTTOT = RTOPTAMTOTOT_<CO> CO
Texas Nodalhttp://nodal.ercot.com 52
Real-Time Option with Refund Amount (RTOPTRAMT)
– ERCOT shall pay the NOIE that owns a PTP Option with Refund that was allocated to that NOIE as a PCRR and that was, declared before Day-Ahead Market execution by the NOIE to be settled in Real-Time but not cleared in the Day-Ahead Market, for MW quantity up to the pro-rata actual usage based on the positive difference in Real-Time Settlement Point Prices between the sink and source.
• Exception: The payment of PTP Options with Refund may be further reduced due to transmission elements that are oversold in previous CRR auctions
RTOPTRAMT = (-1) * Max {(RTOPTRTP – RTOPTRDA), Min (RTOPTRTP, RTOPTRHV)}
Where
RTOPTRTP = RTOPTPR * Min (RTOPTR, OPTRACT * (RTOPTR / (DAOPTR + RTOPTR)))
RTOPTRDA = OPTDRPR * Min (RTOPTR, OPTRACT * (RTOPTR / (DAOPTR + RTOPTR)))
RTOPTRHV = RTOPTHVPR * Min (RTOPTR, OPTRACT * (RTOPTR / (DAOPTR + RTOPTR)))
OPTRACT = Option with Refund Actual Usage
– Other Output Bill Determinants
RTOPTRAMTOTOT_<CO> = RTOPTRAMT_<CO> SRSP SKSP
RTOPTRAMTTOT = RTOPTRAMTOTOT_<CO> CO
Texas Nodalhttp://nodal.ercot.com 53
Real-Time Option with Refund Amount (RTOPTRAMT) (continued)
Example:
Table 1: Calculated Real-Time Option w/ Refund Target Payment, Real-Time Option w/ Refund Derated Amount, & Real-Time Option w/ Refund Hedge Value (Hour Ending 2)
Table 2: Calculated Real-Time Option w/ Refund Amount (Hour Ending 2)
CRR Owner
CRRRTOPTRAMT
($)
CO3PTP Option w/ Refund
4072_RN → SOUTH_LZ - $146.74
CRROwner
CRROPTRACT
(MW)RTOPTR
(MW)DAOPTR
(MW)
RTOPTPR($/MW per
Hr)
RTOPTRTP($)
OPTDRPR($/MW per
Hr)
RTOPTRDA ($)
RTOPTHVPR($/MW per Hr)
RTOPTRHV($)
CO3PTP Option w/ Refund4072_RN NORTH_LZ 26.10 23 22 11.00 146.74 0.00 0.00 37.43 499.32
OPTRACT: Option with Refund Actual UsageRTOPTR = Real-Time Option with RefundDAOPTR = Day-Ahead Option with RefundRTOPTPR = Real-Time Option PriceRTOPTRTP = Real-Time Option with Refund Target PaymentOPTDRPR = Option Deration PriceRTOPTRDA = Real-Time Option with Refund Derated AmountRTOPTHVPR = Real-Time Option Hedge Value PriceRTOPTRHV = Real-Time Option with Refund Hedge Value
Texas Nodalhttp://nodal.ercot.com 54
No DAM Real-Time Obligation Amount (NDRTOBLAMT)
– When the Day-Ahead Market is not executed, ERCOT shall pay or charge the owner of each PTP Obligation based on the difference in Real-Time Settlement Point Prices between the sink Settlement Point and the source Settlement Point.
– ERCOT does not reduce the “No DAM PTP Obligation” payment for transmission elements that are oversold in previous CRR auctions
NDRTOBLAMT = (-1) * RTOBLPR * DAOBL
NDRTOBLAMTOTOT_<CO> = NDRTOBLAMT_<CO>_<SRSP>_<SKSP> SRSP SKSP
NDRTOBLAMTTOT = NDRTOBLAMTOTOT_<CO> CO
Texas Nodalhttp://nodal.ercot.com 55
No DAM Real-Time Option Amount (NDRTOPTAMT)
– When the Day-Ahead Market is not executed, ERCOT shall pay the owner of each PTP Option based on the positive difference in Real-Time Settlement Point Prices between the sink Settlement Point and the source Settlement Point
– ERCOT shall not reduce the “No DAM PTP Option” payment due to transmission elements that are oversold in previous CRR auctions.
NDRTOPTAMT = (-1) * NDRTOPTTP
NDRTOPTTP = RTOPTPR * OPT
NDRTOPTAMTOTOT_<CO> = NDRTOPTAMT_<CO>_<SRSP>_<SKSP> SRSP SKSP
NDRTOPTAMTTOT = NDRTOPTAMTOTOT_<CO> CO
Texas Nodalhttp://nodal.ercot.com 56
No DAM Real-Time Option with Refund Amount (NDRTOPTRAMT)
– When the Day-Ahead Market is not executed, ERCOT shall pay the NOIE owner of each PTP Option with Refund that was allocated to that NOIE as a PCRR, for the quantity up to the actual usage based on the positive difference in Real-Time Settlement Point Prices between the sink Settlement Point and the source Settlement Point
– ERCOT shall not reduce the “No DAM PTP Options with Refund” payment due to transmission elements that are oversold in previous CRR auctions
NDRTOPTRAMT = (-1) * NDRTOPTRTP
NDRTOPTRTP = RTOPTPR * MIN (OPTR, OPTRACT)
NDRTOPTRAMTOTOT_<CO> = NDRTOPTRAMT_<CO>_<SRSP>_<SKSP> SRSP SKSP
NDRTOPTRAMTTOT = NDRTOPTRAMTOTOT_<CO> CO
Texas Nodalhttp://nodal.ercot.com 57
No DAM Real-Time FGR Amount (NDRTFGRAMT)
– In the event that ERCOT is unable to execute the Day-Ahead Market, ERCOT shall pay the owner of the FGR an amount based on the time-weighted Shadow Price of each SCED interval for each directional network element associated with the FGR for each contingency (including the null contingency or base case) normalized to the impact of the principal network element of the FGR (the normal rating of which is used to determine the total MW amount for the flowgate)
NDRTFGRAMT = (-1) * NDRTFGRTP
NDRTFGRTP = NDRTFGRPR * DAFGR
NDRTFGRAMTOTOT_<CO> = NDRTFGRAMT_<CO>_<F> F
NDRTFGRAMTTOT = NDRTFGRAMTOTOT_<CO> CO
Texas Nodalhttp://nodal.ercot.com 58
No DAM Real-Time Obligation with Refund Amount (NDRTOBLRAMT)
– In the event that ERCOT is unable to execute the Day-Ahead Market, ERCOT shall pay or charge the NOIE owner of a PTP Obligation with Refund, for the quantity up to the actual usage based on the difference in the Real-Time Settlement Point Prices between the sink Settlement Point and the source Settlement Point
NDRTOBLRAMT = (-1) * NDRTOBLRTP
NDRTOBLRTP = RTOBLPR * Min (DAOBLR, OBLRACT)
NDRTOBLRAMTOTOT_<CO> = NDRTOBLRAMT_<CO>_<SRSP>_<SKSP>SRSP SKSP
NDRTOBLRAMTTOT = NDRTOBLRAMTOTOT_<CO> CO
Texas Nodalhttp://nodal.ercot.com 59
Texas Nodal
Settlements Mini-Market - CRR
- CRR Balancing Account - July 31, 2007
Texas Nodalhttp://nodal.ercot.com 60
Daily CRR Balancing Account
• Daily CRR Balancing Account Calculations and Charge Types
– Credit to CRR Balancing Account (CRRBACR)
– Day-Ahead Shortfall Charges to CRR Owners (DACRRSAMT)
– Real-Time Shortfall Charges to CRR Owners (RTCRRSAMT)
• Scenarios in Settlements Mini-Market:
– DA Congestion Rent > Net Amount due to CRR Owners (CRR Balancing Account Credit)
• (Interval 1, Interval 3 ~5, Interval 7~ 10, Interval 12 ~ 16, Interval 19, Interval 21 ~ 24)
– DA Congestion Rent < Net Amount due to CRR Owners (Short-Pay CRR Owners)
• (Interval 11, Interval 17, Interval 18)
Texas Nodalhttp://nodal.ercot.com 61
Credit to CRR Balancing Account (CRRBACR)
• If the Day-Ahead Congestion Rent (DACONGRENT) is greatergreater than the total payment to all CRR Owners for the CRRs settled in the Day-Ahead Market for any Operating Hour, a credit is put into the CRR Balancing Account for that Operating Hour
CRRBACR = Max (0, (DACONGRENT + DACRRCRTOT + DACRRCHTOT))
Where:
Day-Ahead CRR Credit Total DACRRCRTOT = DAOBLCRTOT + DAOBLRCRTOT + DAOPTAMTTOT+ DAOPTRAMTTOT + DAFGRAMTTOT
Day-Ahead CRR Charge Total DACRRCHTOT = DAOBLCHTOT + DAOBLRCHTOT
Example:
IntervalDACONGRENT
($)DACRRCRTOT
($)DACRRCHTOT
($)CRRBACR
($)
1 $ 1862.27 - $188.38 0 $ 1673.89
DACONGRENT = Day-Ahead Congestion RentDACRRCRTOT = Day-Ahead CRR Credit TotalDACRRCHTOT = Day-Ahead CRR Charge Total
Texas Nodalhttp://nodal.ercot.com 62
Day-Ahead Shortfall Charges to CRR Owners (DACRRSAMT)
• For each Operating Hour, if the Day-Ahead Congestion Rent (DACONGRENT) is lessless than the total payment to all CRR Owners for the CRRs settled in the Day-Ahead Market, a charge will be made to each CRR Owner for any of its CRRs settled in the Day-Ahead Market or Real-Time Market that have positive settlement prices, except for CRRs bought in the Day-Ahead Market
DACRRSAMT = DACRRSAMTTOT * CRRCRRSDA
Where:
DACRRSAMTTOT = Day-Ahead CRR Shortfall Amount Total
= (-1) * Min (0, DACONGRENT + DACRRCRTOT + DACRRCHTOT)
CRRCRRSDA = CRR Credit Ratio Share Day-Ahead per CRR Owner
= (DAOBLCROTOT + DAOBLRCROTOT + DAOPTAMTOTOT
+ DAOPTRAMTOTOT + DAFGRAMTOTOT)
/ (DACRRCRTOT + RTOPTAMTTOT + RTOPTRAMTTOT)
Example:Table 1: Calculated Day-Ahead CRR Shortfall Amount Total
Table 2: Calculated Day-Ahead CRR Shortfall Amount Charges to CRR Owner
IntervalDACONGRENT
($)DACRRCRTOT
($)DACRRCHTOT
($)DACRRSAMTTOT
($)
11 $ 16164.66 - $18931.10 $805.13 $ 1961.31
IntervalCRR
OwnerCRRCRRSDA
DACRRSAMT($)
11 CO2 0.005628 11.04
DACONGRENT = Day-Ahead Congestion RentDACRRCRTOT = Day-Ahead CRR Credit TotalDACRRCHTOT = Day-Ahead CRR Charge TotalDACRRSAMTTOT = Day-Ahead CRR Shortfall Amount TotalCRRCRRSDA = CRR Credit Ratio Share Day-Ahead
Texas Nodalhttp://nodal.ercot.com 63
Real-Time Shortfall Charges to CRR Owners (RTCRRSAMT)
• For each Operating Hour, if the Day-Ahead Congestion Rent (DACONGRENT) is lessless than the total payment to all CRR Owners for the CRRs settled in the Day-Ahead Market, a charge will be made to each CRR Owner for any of its CRRs settled in the Day-Ahead Market or Real-Time Market that have positive settlement prices, except for CRRs bought in the Day-Ahead Market
RTCRRSAMT = DACRRSAMTTOT * CRRCRRSRT
Where:
DACRRSAMTTOT = Day-Ahead CRR Shortfall Amount
DACRRSAMTTOT = (-1) * Min (0, DACONGRENT + DACRRCRTOT + DACRRCHTOT)
CRRCRRSRT = CRR Credit Ratio Share Real-Time per CRR Owner
CRRCRRSDA = (RTOPTAMTOTOT + RTOPTRAMTOTOT)
/ (DACRRCRTOT + RTOPTAMTTOT + RTOPTRAMTTOT)
Example:Table 1: Day-Ahead CRR Shortfall Amount Total
Table 2: Calculated Real-Time CRR Shortfall Amount Charges to CRR Owner
IntervalDACRRSAMTTOT
($)
11 $ 1961.31
IntervalCRR
OwnerCRRCRRSRT
RTCRRSAMT($)
11 CO4 0.044405 87.09DACRRSAMTTOT: Day-Ahead CRR Shortfall Amount TotalCRRCRRSRT = CRR Credit Ratio Share Real-Time
Texas Nodalhttp://nodal.ercot.com 64
Texas Nodal
CRR Settlements
- Acronyms - July 31, 2007
Texas Nodalhttp://nodal.ercot.com 65
CRR Settlements - Acronyms
C Constraint Identifier
A CRR Annual / Monthly Auctions
CH CRR Account Holder
CO CRR Owner
CRRBACR CRR Balancing Account Credit
CRRNZREV CRR Non-Zonal Revenue
CRRRAMT Monthly Refund to Short-Paid CRR Owners
CRRZREV CRR Zonal Revenue per 2003 ERCOT Congestion Management Zone
DACONGRENT Day-Ahead Congestion Rent
DACRRSAMT Day-Ahead Shortfall Charges to CRR Owners
DAFGR Day-Ahead FGR (MW)
DAFGRAMT Day-Ahead FGR Amount
DAFGRDA Day-Ahead FGR Derated Amount
DAFGRHV Day-Ahead FGR Hedge Value
DAFGRHVPR Day-Ahead FGR Hedge Value Price
DAFGRPR Day-Ahead FGR Price
DAFGRTP Day-Ahead FGR Target Payment
DAM Day-Ahead Market
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CRR Settlements - Acronyms
DAOBL Day-Ahead Obligation (MW)
DAOBLAMT Day-Ahead Obligation Amount
DAOBLDA Day-Ahead Obligation Derated Amount
DAOBLHV Day-Ahead Obligation Hedge Value
DAOBLHVPR Day-Ahead Obligation Hedge Value Price
DAOBLR Day-Ahead Obligation with Refund (MW)
DAOBLRAMT Day-Ahead Obligation with Refund Amount
DAOBLRDA Day-Ahead Obligation with Refund Derated Amount
DAOBLRHV Day-Ahead Obligation with Refund Hedge Value
DAOBLRTP Day-Ahead Obligation with Refund Target Payment
DAOBLTP Day-Ahead Obligation Target Payment
DAOPT Day-Ahead Option (MW)
DAOPTAMT Day-Ahead Option Amount
DAOPTDA Day-Ahead Option Derated Amount
DAOPTHV Day-Ahead Option Hedge Value
DAOPTHVPR Day-Ahead Option Hedge Value Price
DAOPTPR Day-Ahead Option Price
DAOPTR Day-Ahead Option with Refund (MW)
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CRR Settlements - Acronyms
DAOPTRAMT Day-Ahead Option with Refund Amount
DAOPTRDA Day-Ahead Option with Refund Derated Amount
DAOPTRHV Day-Ahead Option with Refund Hedge Value
DAOPTRTP Day-Ahead Option with Refund Target Payment
DAOPTTP Day-Ahead Option Target Payment
DASFMCWGRS Day-Ahead Shift Factor of McCamey WGRs
DASP Day-Ahead Shadow Price
DAWALBEP Day-Ahead Weighted Average Load Bus Energy Price
DAWASF Day-Ahead Weighted Average Shift Factor
DAWASFLB Day-Ahead Weighted Average Shift Factor of Load Buses
DRF Deration Factor
E Directional Network Element
F Flowgate
FGR Flowgate Right
FGRDRPR FGR Deration Price
FIP Fuel Index Price
INF Impact Normalization Factor
LACMRNZAMT Load-Allocated CRR Monthly Revenue Non-Zonal Amount
LACMRZAMT Load-Allocated CRR Monthly Revenue Zonal Amount per Zone
LACRRAMT CRR Balancing Account Closure
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CRR Settlements - Acronyms
MAXRESHR Maximum Resource Price Heat Rate
MAXRESPR Maximum Resource Price for sink Settlement Point
MAXRESRPR Maximum Resource Price for Resources located at the sink Settlement Point
MCFRI McCamey Flowgate Right
MINRESHR Minimum Resource Price Heat Rate
MINRESPR Minimum Resource Price for source Settlement Point
MINRESRPR Minimum Resource Price for Resources located at the source Settlement Point
NDRTFGRAMT No DAM FGR Amount
NDRTOBLAMT No DAM Real-Time Obligation Amount
NDRTOBLRAMT No DAM Real-Time Obligation with Refund Amount
NDRTOPTAMT No DAM Real-Time Option Amount
NDRTOPTRAMT No DAM Real-Time Option with Refund Amount
OBLDRPR Obligation Deration Price
OBLRACT Obligation with Refund Actual usage
OPT PTP Options (MW)
OPTDRPR Option Deration Price
OPTR PTP Options with Refund (MW)
OPTRACT Option with Refund Actual usage
PCRR Pre-Assigned Congestion Revenue Right
PCRRNZREV PCRR Non-Zonal Revenue
PCRRZREV PCRR Zonal Revenue per 2003 ERCOT Congestion Management Zone
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CRR Settlements - Acronyms
PTP Point-to-Point
Q Qualified Scheduling Entity (QSE)
R Resource
RMRCEFA RMR Contract Estimated Fuel Adder
RMRCHRHSL RMR Contract Heat Rate at HSL Level
RMRCHRLSL RMR Contract Heat Rate at LSL Level
RTCRRSAMT Real-Time Shortfall Charges to CRR Owners
RTOBL Real-Time Obligation (MW)
RTOBLAMT Real-Time Obligation Amount
RTOBLPR Real-Time Obligation Price
RTOBLR Real-Time Obligation with Refund
RTOBLRAMT Real-Time Obligation with Refund Amount
RTOPT Real-Time Option (MW)
RTOPTAMT Real-Time Option Amount
RTOPTDA Real-Time Option Derated Amount
RTOPTHV Real-Time Option Hedge Value
RTOPTHVPR Real-Time Option Hedge Value Price
RTOPTPR Real-Time Option Price
RTOPTR Real-Time Option with Refund (MW)
RTOPTRAMT Real-Time Option with Refund Amount
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CRR Settlements - Acronyms
RTSP Real-Time Shadow Price
RTSPP Real-Time Settlement Point Price
SCED Security-Constrained Economic Dispatch
SKSP Sink Settlement Point
SRSP Source Settlement Point
Z Zone
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Questions