Transmission Rights. 2 The Markets EnergyForwardTransmissionRightsAncillaryServices Must Run...
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Transcript of Transmission Rights. 2 The Markets EnergyForwardTransmissionRightsAncillaryServices Must Run...
Transmission RightsTransmission Rights
2
The MarketsThe Markets
EnergyEnergyForwardForward
TransmissionTransmissionRightsRights
AncillaryAncillaryServicesServices
Must RunMust RunContractsContracts
EnergyEnergyOperatingOperatingReserveReserve
CapacityCapacityReserveReserve
ProcurementProcurement
FinancialFinancial
Real-timeReal-time
PhysicalPhysical
IMO - Administered MarketsIMO - Administered MarketsIMO - Administered MarketsIMO - Administered Markets
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ParticipantParticipant
• The company or organization that is authorized to participate in the Financial Transmission Rights Market
• The company or organization that is authorized to participate in the Financial Transmission Rights Market
E.g., Company Light-BrightE.g., Company Light-BrightE.g., Company Light-BrightE.g., Company Light-Bright
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UsersUsers
Users:
• The various people within a member company that are authorized to participate in auctions on behalf of their company.
Users:
• The various people within a member company that are authorized to participate in auctions on behalf of their company.
JoeJoeJoeJoeGregGregGregGreg
MikeMikeMikeMikeKimKimKimKim
From Company Light-BrightFrom Company Light-BrightFrom Company Light-BrightFrom Company Light-Bright
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OntarioOntario
ManitobaManitoba
MichiganMichigan
QuebecQuebec
New YorkNew York
MinnesotaMinnesota
Interconnection FeaturesInterconnection Features
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CongestionCongestion
Occurs when physical capability of the transmission system cannot meet market
requirements
Occurs when physical capability of the transmission system cannot meet market
requirements
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OntarioOntario New YorkNew YorkNYNY
IntertieIntertieZoneZone
OntarioOntarioProxy Proxy
BusBus
External MarketExternal Market (New York Example)(New York Example)IMO-Administered MarketsIMO-Administered Markets
Import of Energy Into OntarioImport of Energy Into Ontario
Transfer of MWs from one market to the other is Transfer of MWs from one market to the other is achieved when both markets are navigated successfullyachieved when both markets are navigated successfully
MWs Imported to MWs Imported to OntarioOntario
MWs Exported MWs Exported from New Yorkfrom New York
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Intertie Zone MCP: Offers/No Congestion
Intertie Zone MCP: Offers/No Congestion
MCP = 16MCP = 16Ontario
Import Scheduling Limit Import Scheduling Limit
$10$10
$22$22
$14$14
$12$12Intertie Zone
$10$10
$16$16
$14$14
$12$12
$22$22
$24$24
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Intertie Zone MCP: Offers/CongestionIntertie Zone MCP: Offers/Congestion
Ontario MCP = 16Ontario MCP = 16Ontario
Import Scheduling Limit Import Scheduling Limit
$10$10
$22$22
$14$14
$12$12Intertie Zone
$10$10
$16$16
$14$14
$12$12
$22$22
$24$24
Intertie Zone MCPIntertie Zone MCP
1212
1414
16 - no congestion16 - no congestion
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Intertie Zone MCP: Bids/No CongestionIntertie Zone MCP: Bids/No Congestion
Ontario
Scheduling Limit 400 MwScheduling Limit 400 Mw $10$10
$1000$1000
$500$500
$12$12Intertie Zone
$10$10
$16$16
$14$14
$12$12
$500$500
$1000$1000Dispatchable Load ServedDispatchable Load Served
Dispatchable Load Not ServedDispatchable Load Not Served
Boundary Entity Load Not Boundary Entity Load Not
ServedServed
MCP = 16MCP = 16
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Intertie Zone MCP: Bids/Congestion
Intertie Zone MCP: Bids/Congestion
Ontario MCP = 16Ontario MCP = 16Ontario
Scheduling Limit Scheduling Limit
Intertie Zone
$10$10
$1000$1000
$500$500
$12$12
$10$10
$16$16
$14$14
$12$12
$500$500
$1000$1000
Intertie Zone MCPIntertie Zone MCP
Dispatchable Load ServedDispatchable Load Served
Dispatchable Load Not ServedDispatchable Load Not Served
1616
Dispatchable Load Not ServedDispatchable Load Not Served
500500
Dispatchable Load Not ServedDispatchable Load Not Served
10001000
Dispatchable Load Not ServedDispatchable Load Not Served
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Bids and Offers in Intertie ZonesBids and Offers in Intertie Zones
$10$10
$1000$1000
$500$500
$12$12
$10$10
$16$16
$14$14
$12$12
$500$500
$1000$1000
$16$16
Bids Offers
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Settlement Price for Withdrawals and Injections
Settlement Price for Withdrawals and Injections
Zone Price Uniform Market Clearing Price in Ontario
ICP
Pre Dispatch
Real Time MCPICP +
Intertie Energy Price
-
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Price ($/MW)
Quantity ((MW))
Real Time MCP Calculation
ExportsPrimary Demand
Fixed Load Dispatchable Load
MMCP
-MMCP
MCP
Dispatchable Generation
Available to algorithm to optimize
ImportsSelf-Scheduling
Fixed Generation
ExportsNon Dispatchable Load
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Time StructureTime 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
• 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
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Time Structure - Business RulesTime 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 accepted.
• 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 accepted.
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12 Hour 1
Hour 2
3
4
567
11
10
9
8
Time StructureTime Structure
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Transmission PathsTransmission Paths
A transmission path specifies the injection and withdrawal zones for transmission and is designated by abbreviation pairs.
A transmission path specifies the injection and withdrawal zones for transmission and is designated by abbreviation pairs.
ON - NYON - NYOntario is theinjection zone
New York is thewithdrawal zone
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How Are TRs Acquired?How Are TRs Acquired?
TransmissionTransmissionRightsRights
Long-termLong-termTR AuctionsTR Auctions
Short-termShort-termTR AuctionsTR Auctions
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Long-term and Short-term TRsLong-term and Short-term TRs
Month
Mw
Intertie upper limit forecast by IMO
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Long-term and Short-term TRsLong-term and Short-term TRs
Month
Mw
Intertie upper limit forecast by IMO
Long Term TR
Short Term TR
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Long-term and Short-term TRsLong-term and Short-term TRs
Month
Mw
Intertie upper limit forecast by IMO
Short Term TR
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Long-term and Short-term TRsLong-term and Short-term TRs
Month
LT 1
MW
Intertie upper limit forecast by IMO
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Long-term and Short-term TRsLong-term and Short-term TRs
Month
LT 2
LT 3
LT 4
LT 1
MW
ST
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Long-term and Short-term TRsLong-term and Short-term TRs
Month
MW
ST
26
Long-term and Short-term TRsLong-term and Short-term TRs
Month
MW
ST
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RoundsRounds
A round is an attempt to sell a product within an auction. Products can be sold in multiple attempts rather than all at once.
A round is an attempt to sell a product within an auction. Products can be sold in multiple attempts rather than all at once.
Round 1Round 1Round 1Round 1 Round 2Round 2Round 2Round 2 Round 3Round 3Round 3Round 3
Auction: LT-May all hours all daysAuction: LT-May all hours all daysAuction: LT-May all hours all daysAuction: LT-May all hours all days
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Round - ExampleRound - Example
Auction: LT- May all hours all daysTRs available = 1000 MW
20% of TRs available soldRound Fraction = 0.20
800 MW Remain
50% of Total/Remaining soldRound Fraction = 0.50
400 MW Remain
100% of Total/Remaining soldRound Fraction = 1.00
No MW Remain
Round 1
Round 2
Round 3(Final)
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Long Term Sub AuctionsLong Term Sub Auctions
Month
MW
ST
LT SA1
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Long Term Sub AuctionsLong Term Sub Auctions
Month
MW
ST
LT SA1
LT SA1
STSTSTST
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LT Sub Auctions and RoundsLT Sub Auctions and Rounds
Month
MW
LT SA1 R1
LT SA1 R2
LT SA1 R3
ST
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BidBid
A bid in the TR Auction System consists of three key pieces of information:
A bid in the TR Auction System consists of three key pieces of information:
Transmission Path
Quantity
Price/MW
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How Are TRs Acquired?How Are TRs Acquired?
TransmissionTransmissionRightsRights
Long-termLong-termTR AuctionsTR Auctions
Short-termShort-termTR AuctionsTR Auctions