2014 Spring Release - Settlements

Transcription

1 2014 Spring Release - Settlements Cynthia Hinman California ISO The information contained in these materials is provided for general information only and does not constitute legal or regulatory advice. The ultimate responsibility for complying with the ISO FERC Tariff and other applicable California laws, ISO rules Internal or regulations Use Only lies with you. In no event shall the ISO or its employees be liable to you or anyone else for any decision made or action taken in reliance on the information in these materials.

2 What is in the Spring 2014 release for settlements? FERC Order 764 and RI-MPR Phase 1 Establishment of the Fifteen Minute Market (FMM) BCR Netting & Mitigation Lower Energy Bid Floor California ISO Internal Use Only Page 2

3 FERC Order Introduction Background, Definitions California ISO Internal Use Only Page 3

4 FERC Order overview To remove barriers to the integration of variable energy resources: 1. Offer an option to schedule energy with 15-minute granularity; and, 2. Require variable energy resources to provide meteorological and forced outage data for the purpose of power production forecasting. California ISO Internal Use Only Page 4

5 FERC Order 764 compliance FERC 764 provided ISO with an opportunity to enhance its markets Introduction of a full 15 minute energy market for intertie and generation Resolve existing real-time imbalance energy offset issues resulting from HASP and RTD optimizations Address convergence bidding issues on the interties. Meet the needs of VERs to self-schedule its forecasts closer to financially binding interval Page 5

6 Time interval definitions changes Current Term Current Definition Revised Term Revised Definition Ancillary Service Interval Dispatch Interval Settlement Interval The 15 min interval for HASP or RT for Trading Hour. The time interval at which ISO Dispatch instructions are issued corresponding to a particular Settlement Interval and Trading Hour The 10-min time period associated with the relevant Bill Determinant or Settlement Amount FMM Interval Settlement Interval Ten Minute Interval The 15-min time period associated with the relevant Bill Determinant or Settlement Amount The five-minute time period over which the ISO settles cost compensation amounts or deviations in Generation and Demand in RTM. The 10-min time period associated with the relevant Bill Determinant or Settlement Amount. Daily, hourly or monthly charge codes, where applicable, will utilize same input bill determinant Variable description in BPM will only maintain those attributes definition which add value to the description Attribute definitions will be maintained in the SaMC Design Standard and Convention document Page 6

7 Settlement Interval redefinition The five-minute time period over which the ISO settles cost compensation amounts or deviations in Generation and Demand in RTM (RTM = FMM and RTD) This means: Meter values are required at 5-minute granularity Real-time based charge codes will settle at the new settlement interval definition Real-time allocation charge codes will be converted to reflect new settlement interval definition Time interval definitions have also been redefined. Page 7

8 FERC Order 764 Timelines and processes Page 8

9 Hourly Real-Time Processes T-75: Real-Time Bid Submission Deadline T-45: Results from Hourly Process to Accept Block Schedules Published T-37.5: Start of Market 1 Optimization T-20: Intertie Hourly Transmission Profile and Energy Schedule for Market 1 E-Tag Deadline T Market 1 Market 2 Market 3 Market 4 T = Start of the Hour Page 9

10 15-minute market (FMM) process ISO will leverage the existing real-time unit commitment process (fifteen-minute market) to co-optimize energy schedules and ancillary service awards Financially binding 15-minute energy schedule for imports, exports, and generation Financially binding ancillary service awards for specific imports and generation FMM will be cleared against ISO real-time demand forecast. Page 10

11 15-Minute real-time process T-22.5: Market 2 Optimization Starts T-7.5: Market 2 Energy Schedule Awards T-5: Market 2 Energy Schedule E-Tag Deadline 20 Minutes Financially Binding T Market 2 T-22.5: Self Schedule Changes for Market Minutes T = Start of the Hour Page 11

12 FMM energy settlement charge code 6460 Incremental/decremental to day-ahead schedule Comprised of FMM Optimal Energy, FMM Minimum Load Energy, FMM Rerate Energy, FMM Pumping Energy, and FMM Exceptional Dispatch Energy FMM Exceptional Dispatch Energy Uplift will be settled in charge codes 3303, 6460, 6482, and 6488 dependent upon Exceptional Dispatch Type FMM Optimal Energy and FMM Minimum Load Energy will be eligible for bid cost recovery (like existing RTD) Financially binding settlement Page 12

13 5-Minute real-time dispatch No changes to 5-minute real-time dispatch timelines. T+15 Market 1 Market 2 Financially Binding T+15 RTD 2 RTD 3 RTD 4 RTD 5 RTD 6 T+12.5: RTD 4 Dispatch, RTD 5 Optimization Begins T+7.5: RTD 4 Optimization Starts T = Start of the Hour Page 13

14 5-minute real-time dispatch settlement Key change - Incremental/decremental to FMM schedules for Imports, Exports, and Generation Comprised of RTD Optimal Energy, RTD Minimum Load Energy, RTD Rerate Energy, RTD Pumping Energy, Standard Ramping Energy, Ramping Energy Deviation, Residual Energy, MSS Energy, Regulation Energy, Operational Adjustment, and RTD Exceptional Dispatch Energy Will settle at the applicable settlement interval (5-Minute) RTD Price Will settle in Charge Code 6470 IIE Settlement RTD Optimal Energy, RTD Minimum Load Energy will be eligible for bid cost recovery Page 14

15 FERC Order 764 Settlement changes and examples Page 15

16 FMM ancillary service settlement Charge codes 6170, 6270, 6570, minute ancillary service awards are incremental to day-ahead market Settle at the real-time ancillary service marginal price (ASMP) HASP ancillary service calculations and charge codes will be terminated Dynamic transfer will introduce a resource specific ancillary service marginal constraint price for settlement of AS congestion Page 16

17 UIE and Operational Adjustments Uninstructed imbalance energy for generating and dynamic resources will be calculated as a single tier quantity (instead of two tiers) and settled at the applicable RTD price Uninstructed imbalance energy for non-participating load will be calculated as a single tier quantity and settled at weighted average hourly real-time market price The weighted average price will be based upon the four FMM prices, the twelve RTD prices, the deviations between DAM load to FMM forecast, and the deviation between FMM forecast and RTD forecast. Operational Adjustment will be settled at RTD Price Page 17

18 Uninstructed imbalance energy charge code 6475 Calculated as the difference between the meter read and the Total Expected Energy payment for positive UIE surplus energy charge for negative UIE replacement energy ISO PUBLIC 2013 CAISO

19 Charge Code 6475 Uninstructed Imbalance Energy OLD PROCESS Total uninstructed imbalance energy MW Dispatch Instruction - OE DAM Schedule DASSE Meter Read UIE Total 20 MWh in Tier 1, RT 20 MWh in Tier 2, DA Min ISO PUBLIC 2013 CAISO Slide 19

20 Charge code 6475 Uninstructed Imbalance Energy Total uninstructed imbalance energy MW Dispatch Instruction - OE DAM Schedule DASSE Meter Read UIE Total 40 MWh in RT Min ISO PUBLIC 2013 CAISO Slide 20

21 Charge code Operational adjustment example If tagged MW is below DA schedule instruction OA will be assessed the RT LMP in CC 6470 OA = Tag/meter DA schedule OA = 90MW 100MW OA = -10MW MW DA schedule Tag amount or meter DAM LMP = $55.00 RT Price = $65.00 CC 6011 = (-1) * 100 MW * $ = payment ($5,500.00) CC 6470 = (-1) *-10 MW * $ = charge $ *Simplified example of CC 6470 ISO PUBLIC 2013 CAISO 21

22 Intertie schedules decline charges CC 6455 Will apply to intertie schedules not delivered or variable energy resources (VER) forecasts that are overstated Calculated on a monthly basis This proposed intertie schedule decline charge will apply to the different hourly block scheduling options: Hourly block Hourly block with schedule change Variable energy resource using is own forecast Page 22

23 Intertie decline charge example Please turn to the Spring 2014 Release Charge Code 6455 Intertie Schedules Decline Charges Example document Page 23

24 Other changes to settlements HASP inter-sc trades, energy, and ancillary service settlement are to be terminated FMM inter-sc trades will settle at the FMM IST Price CC 6371 Convergence bidding for internal nodes and intertie scheduling points will settle at FMM Prices CC 6473 Page 24

25 Previous convergence bidding real-time settlement led to market uplifts Dayahead Interties Virtual supply sold Internal nodes Virtual demand bought Cost to market = virtual demand sold at RTD price virtual supply bought at HASP price Convergence bid cost paid by uplift charge to load Hourly HASP Virtual supply bought Uplift charge to load also produced by HASP/RTD dispatch and price differences 5-min RTD Virtual demand sold Page 25

26 Proposed design clears all convergence bids at 15- minute price Dayahead Interties Virtual supply sold Internal nodes Virtual demand bought No convergence bids between 15-min market and RTD Increased consistency between 15-min and dayahead will reduce other uplift charges to load 15-min Market 5-min RTD Virtual supply bought Virtual demand sold Position limits will phase in intertie convergence bidding Page 26

27 Transition plan to phase in convergence bidding functionality on the interties. Convergence bidding position limits on the interties enables ISO to address any unanticipated market issues prior to adding complexity of convergence bidding: Significant real-time market changes to scheduling and pricing of intertie transactions. Energy Imbalance Market in Fall 2014 will expand real-time market to include other balancing authorities. Position Limit Duration 0% of intertie capacity Implementation to 12 months 5% of intertie capacity 12 to 20 months 25% of intertie capacity 20 to 24 months 50% of intertie capacity 24 to 28 months No Limit 28 months Page 27

28 Convergence bidding virtual supply awards The ISO will charge each SC with virtual supply awards at an eligible PNode or eligible aggregated Pnode: an amount equal to the simple average of the four FMM LMPs for the applicable trading hour at the eligible PNode or eligible aggregated PNode multiplied by the MWhs of virtual supply awards Page 28

29 Convergence bidding virtual demand awards The ISO will pay each SC with virtual demand awards at an eligible PNode or eligible aggregated Pnode: an amount equal to the simple average of the four FMM LMPs for the applicable trading hour at the eligible PNode or eligible aggregated PNode multiplied by the IFM MWhs of virtual demand awards Page 29

30 RI-MPR Phase 1 BCR netting, BCR mitigation measures, & mandatory MSG

31 RI-MPR Changes Lower the energy bid floor Currently -$30/MWh Spring release -$150/MWh Manage over-generation more efficiently Page 31

32 RI-MPR Changes Bid cost recovery (BCR) Currently BCR netted over the entire day, all markets Spring release - day-ahead BCR amounts netted separately from RUC/real-time BCR amounts Spring release - new mitigation measures to address potential adverse behavior due to new netting methodology CMRI - 5 new or enhanced reports related to RI-MPR changes Page 32

33 Quick recap of BCR Financial mechanism to ensure market participants are able to recover eligible bid costs Three part energy bid: start-up cost (fixed cost) minimum load costs (fixed cost) transition costs (fixed cost) energy BCR uplift when eligible bid costs exceed eligible revenues Page 33

34 BCR changes due to RI-MPR IFM BCR no longer netted with RUC/RTM BCR Separate BCR uplift settlement for IFM (CC 6630) and combined RUC/RTM (CC 6620) RT BCR payments no longer reduced by IFM revenues above bid costs Incentive for economic bids into RTM Netting separation may cause potential adverse market behavior BCR Mitigation Measures Address IFM/RTM-RUC market separation, and current adverse market behavior RTM energy for BCR includes both FMM &RTD energy as part of FERC Order 764 enhancement Page 34

35 BCR mitigation measures netting methodology Bid costs - Market revenues Start-up Minimum load Transition Energy bid: awarded energy * energy bid price Ancillary Services: awarded AS * AS bid price Minimum load: minimum load energy * LMP Energy: awarded energy * LMP Ancillary Services: awarded AS * ASMP Bid costs - Market revenues = Net market amount BCR uplift will occur when eligible bid costs exceed eligible revenues Page 35

36 Bid cost recovery settlement methodology BCR uplift amount for the trading day = IFM Net Amount Plus RUC Net Amount Plus RTM Net Amount If shortfall exists, eligible for BCR Page 36

37 Bid cost recovery settlement methodology BCR uplift amount for the trading day = IFM Net Amount If shortfall exists, Plus eligible for BCR RUC Net Amount Plus RTM Net Amount If shortfall exists, eligible for BCR Page 37

38 BCR mitigation measures no netting methodology Stays the same Determining eligibility Evaluate performance Net bid costs and market revenues per market What s new Modified day-ahead MEAF calculation Performance metric in real-time RUC calculated in real-time Persistent deviation metric Page 38

39 BCR persistent deviation metric highlights Used to mitigate energy cost basis in BCR as a consequence of persistent deviation Targets deviations that can be used to inflate BCR without changing the existing bid cost recovery design when dispatch is not followed Page 39

40 BCR mitigation measures Modified DA Metered Energy Adjustment Factor (DA MEAF) Real-time Performance Metric (RT PM) Persistent Deviation Metric (PDM) BCR qualification for start-up, shutdown and MSG transition Page 40

41 Modified day-ahead MEAF

42 Modified day-ahead MEAF DA MEAF = min 1, Meter DA MLE Reg min{tee,dase} DA MLE Apply if Meter Reg min(dase, TEE) <= PM tol band PM tol band = max 5MWh 12, 0.03 Pmax 12 + Ramping Tolerance

43 Ramping tolerance

44 Real-time performance metric

45 Real-time performance metric Performance Metric (PM) = min 1, Meter DA Energy Regulation TEE DA Energy Apply PM to BCR Cost and Revenue if Meter Reg TEE <= PM tol band Replaces current real-time MEAF

46 Application of DA MEAF & RT PM DA MEAF DA Energy above Pmin RT PM RUC / RTM ML cost and revenue Optimal energy DA ML cost and revenue applied in lieu of DA MEAF for non-msg, ISO-committed in DA, de-committed in RTM for MSG, ISO-committed in DA at higher, in RTM at lower configuration

47 Application of DA MEAF & RT PM, cont. Costs Revenues Apply DA MEAF or PM to + + costs + costs & revenues + n/a revenues In short, apply to positive costs and negative revenues DA MEAF or RT PM should not increase costs or decrease revenues (i.e., there is no increase in BCR uplift amount)

48 Persistent deviation (PDM) Meter i 1 Meter i Meter i 1 TEE i Regulation i Test PDM per each 5-min from 3-hour perspective for Trading Hour Flag as pass or fail, per 5-min, and count number of fails Split 3-hour period as: Window 1: Prior and Current Trading Hours Window 2: Current and Next Trading Hours If fail count > 6 for either window, then Mitigate RT OE and RIE bid prices for Current Trading Hour Min(Final Bid Price, DEB Price, RT LMP) for inc energy Max(Final Bid Price, DEB Price, RT LMP) for dec energy

49 PDM threshold test cases

50 PDM threshold test cases

51 PDM threshold test cases

52 BCR for start-up costs (SUC) To receive BCR on start-up costs, resource must be OFF before becoming ON. Short-start resource committed by ISO in IFM but recommitted in RTM, creating overlaps, RTM SUC costs are allocated as: IFM costs over the IFM commitment period, for 1 st RTM start-up; RTM costs over the RTM commitment period, for subsequent RTM start-ups over the same IFM commitment period

53 BCR minimum load, shutdown Disqualify MLC when ISO is not be able to issue binding shutdown following shutdown advisory due to resource s persistent deviation State Variable stores cumulative deviation

54 BCR MSG transition Transition cost paid if based on metered energy, resource is: in its FROM configuration prior to transition period and then in its TO configuration

55 Mandatory MSG implementation Incorporates enhancement to multi-stage generator (MSG) modeling Replaces current interim MSG model Uses RT performance metric to determine eligible MSG configuration MLC BCR Pro-rates cost and revenue based on metered energy relative to expected energy Replaces MLC payment based on metered configuration Page 55

56 Charge Code Impact One (1) new CC under Cost Recovery Parent Group CC 6630 IFM Bid Cost Recovery Settlement Configuration Updates to Nine (9) CCs CC 6620 RUC and RTM Bid Cost Recovery Settlement CC 6460 FMM Instructed Imbalance Energy Settlement CC 6470 RT Instructed Imbalance Energy Settlement PC BCR Sequential Netting PC SUC and MLC PC MEAF PC IFM Net Amount PC RUC Net Amount PC RTM Net Amount Page 56

57 Charge Code Impact, cont. CC 6630 (IFM BCR Settlement), per resource per TD uplift amount from total negative daily IFM net amounts net amounts = Bid Cost Market Revenue per 5-minutes CC 6620 (RUC and RTM BCR Settlement), per resource per TD uplift amount from total negative daily RUC plus RTM net amounts net amounts = Bid Cost Market Revenue per 5-minutes Page 57

58 Charge Code Impact, cont. BCR Sequential Netting (ISO-level) As before, uplift only positive values, scaled by positive uplift ratio; but separate IFM uplift ratio from RUC and RTM uplift ratio Per 5-min, For IFM uplift, net only IFM shortfalls with IFM surpluses For RUC and RTM uplifts 1. Identify if RUC shortfall or RUC surplus 2. Identify if RTM shortfall or RTM surplus 3. If RUC shortfall in step 1, Net RUC shortfall with any RTM surplus 4. If RTM shortfall in step 2, Net RTM shortfall with any RUC surplus Uplift ratio = Total relevant market uplift per TD / Total relevant market positive uplift per TD Page 58

59 Bid cost recovery examples Please turn to Spring 2014 Release Non MSG Resource with BCR Settlement Example ; and Spring 2014 Release - Non-Overlapping MSG Resource with BCR Settlements Example Page 59

60 IFM BCR change summary IFM Net Amount computed as IFM Bid Cost minus IFM Market Revenue IFM Energy Bid Cost and Market Revenue Subject to DA MEAF IFM MLC and MLE qualifiers; a. No RTM De-commitment, use Meter >= PMIN Tolband. b. If RTM De-commitment, use RT PM with IFM MLC and MLE New CC 6630 IFM BCR Settlement Page 60

61 RTM BCR change summary RTM Net Amount computed as RT Bid Cost minus RT Market Revenue RT Energy Bid Cost and Market Revenue RT PM applied to RUC MLC and RTM MLC, Energy Bid Cost, MLE MLC payment calculation for MSG simplified No more intermediate MSG Configuration cost payment for ISOcommitted MSG Configuration transitions Negative RTM MLC When IFM committed configuration is higher than RTM Committed configuration. RUC Net Amount still computed as RUC Bid Cost minus RUC Market Revenue CC 6620 for RUC/RTM BCR Settlement Page 61

62 Charge Code Impact by Category FMM Market RIMPR 5-Minute Settlements Dynamic Transfers Page 62

63 FMM Market Charge Code # ` 4512 GMC Inter-SC Trade Transaction Fee 4560 GMC Market Services Charge 4561 GMC System Operations Charge 6194 Spinning Reserve Obligation Charge 6294 Non Spinning Reserve Obligation Charge 6371 FMM Inter-SC Trades Settlement 6455 Declined Hourly Pre-Dispatch Penalty 6457 Declined Hourly Pre-Dispatch Penalty Allocation 6460 FMM Instructed Imbalance Energy Settlement 6470 Real-time Instructed Imbalance Energy Settlement Page 63

64 FMM Market, cont. Charge Code # Title 6473 Real-time Convergence Energy Settlement 6475 Real-time Uninstructed Imbalance Energy Settlement 6774 Real-time Congestion Offset 6788 Real-time Market Congestion Credit Settlement 6482 Real-time Excess Cost for Instructed Energy Settlement 6488 Exceptional Dispatch Uplift Settlement 6984 RTM Net Marginal Loss Assessment per CAISO Agreement 701 Forecasting Service Fee Pre-calc Pre-calc Pre-calc Ancillary Services Real-time Energy Quantity Real-time Price Page 64

65 RIMPR Charge Code # Title 6470 Real Time Instructed Imbalance Energy Settlement 6620 RUC and RTM Bid Cost Recovery Settlement 6630 IFM Bid Cost Recovery Settlement Pre-calc IFM Net Amount Pre-calc Metered Energy Adjustment Factor Pre-calc RTM Net Amount Pre-calc RUC Net Amount Pre-calc Bid Cost Recovery Sequential Netting Pre-calc Start Up and Minimum Load Cost Page 65

66 5-Minute Settlements Charge Code # Title 6474 Real-time Unaccounted for Energy Settlement 6477 Real-time Imbalance Energy Offset 6678 Real-time Bid Cost Recovery Allocation 7056 Flexible Ramp Cost Allocation 6486 Real-time Excess Cost for Instructed Energy Allocation 6489 Exceptional Dispatch Uplift Allocation 6806 Day Ahead Residual Unit Commitment Tier 1 Allocation 6824 No Pay Residual Unit Commitment Settlement 1303 Supplemental Reactive Energy Allocation Page 66

67 5-Minute Settlements, cont. Charge Code # Title 1407 MSS Positive Deviation Penalty 2407 MSS Negative Deviation Penalty 3303 Supplemental Reactive Energy Settlement 4563 GMC Transmission Ownership Rights Charge 4989 Daily Rounding Adjustment Allocation 6124 No Pay Spinning Reserve Settlement 6224 No Pay Non-spinning Reserve Settlement 6480 Excess Cost Neutrality Allocation 6490 NERC WECC Charge 6976 Transmission Loss Obligation Charge for Real-time Schedules Under Control Agreement Page 67

68 5-Minute Settlements, cont. Charge Code # Title 6977 Allocation of Transmission Loss Obligation Charge 7024 Flexible Ramp Up No Pay Capacity Charge Pre-calc Pre-calc Pre-calc Pre-calc Pre-calc Pre-calc Pre-calc Pre-calc Pre-calc Measured Demand over Control Area ETC TOR CVR Quantity Standard Capacity Product System Resource Deemed Delivered Energy HVAC Metered Load RUC No Pay Quantity Wheel Export Quantity Allocation of Transmission Losses Under Control Agreements Measured Demand Over Control Area Excl MSS Energy Page 68

69 5-Minute Settlements, cont. Charge Code # Pre-calc Pre-calc Pre-calc Pre-calc Title Measured Demand Over Control Area Excl Transmission Loss Adjustment MSS Deviation Penalty Quantity MSS Netting Spin Non-spin No Pay Quantity Page 69

70 Dynamic Transfers Charge Code # Title 6755 Real-time Congestion Regulation Up Import Settlement 6760 Day-ahead Congestion Regulation Down Import Settlement 6765 Real-time Congestion Regulation Down Import Settlement Pre-calc Ancillary Services Page 70

71 Questions?

72 References Page 72

73 Reference materials Renewable Integration Market & Product Review Draft Final Proposal ProductReviewPhase1.pdf Bid Cost Recovery Mitigation Measures 3 rd Revised Draft Final Proposal onmeasuresnov26_2012.pdf FERC Order 764 Compliance 15-Minute Scheduling and Settlement Addendum to Draft Final Proposal FERC_Order764MarketChanges.pdf FERC Order 764 Market Changes Intermittent Resource Protective Measures IntermittentResourceProtectiveMeasures.pdf Page 73

74 Reference materials, cont. Draft Tariff Language RI-MPR oductreviewphase1.aspx (please see under Tariff development) Draft Tariff Language Order 764 Compliance FERCOrder764MarketChanges.doc Draft Configuration Guides Under Spring 2014 release>draft settlements technical documentation SaMC Design Bill Determinant Standard and Convention Under Spring 2014 release>draft settlements technical documentation Page 74

75 Reference materials, cont. Second Draft SaMC Bill Determinant Matrix File Under Spring 2014 release>draft settlements technical documentation List of Documentation Only and Retiring Configuration Guides Under Spring 2014 release>draft settlements technical documentation List of Documentation Only and Retiring Configuration Guides Under Spring 2014 release>draft settlements technical documentation California Independent System Operator Corporation Fifth Replacement FERC Electric Tariff CAISO Settlements And Billing (Section 11) Under Tariffs>Conformed tariff by section and appendix>tariff sections Page 75

76 Reference materials, cont. External Business Requirement Specification FERC Order Under Spring 2014 release>ferc Order No 764 market changes - implementation External Business Requirement Specification Renewable Integration Market and Product Review and BCR Mitigation Under Spring 2014 release>renewable integration market and product review phase 1 - implementation Page 76

77 Acronyms Page 77

78 Common acronyms Acronym ADS AGC APN A/S or AS ASMP BA BAA BAID BCR BOG Stands for Automated Dispatch System Automatic Generation Control Aggregate Price Node SC Trade Ancillary Services Ancillary Services Marginal Price Balancing Authority Balancing Authority Area Business Associate Identification Bid Cost Recovery Board of Governors Slide 78

79 Common acronyms Acronym BPM BRS CARB CAS CAISO DA DAM DASE DASSE DEB Stands for Business Practice Manual Business Requirements Specification California Air Resource Board California Independent System Operator Day-ahead Day-ahead Market Day-ahead Scheduled Energy Day-ahead Self-scheduled Energy Default Energy Bid Slide 79

80 Common acronyms Acronym DOP DOT DSSE EIM EIR ESQMD FERC FMM GMC GRDT Stands for Dispatch Operating Point Dispatch Operating Target Day-Ahead Self-Scheduled Energy Energy Imbalance Market Eligible Intermittent Resource Estimated Settlement Quality Meter Data Federal Energy Regulatory Commission Fifteen Minute Market Grid Management Charge Generator Resource Data Template Slide 80

81 Common acronyms Acronym HAP HASP IIE IFM IRDT ISO IST LAP LSE LMP Stands for Hour Ahead Process Hour Ahead Scheduling Process Instructed Imbalance Energy Integrated Forward Market Intertie Resource Data Template Independent System Operator Inter-SC Trade Load Aggregation Point Load Serving Entity Locational Marginal Price Slide 81

82 Common acronyms Acronym LMPM MCC MCL MEAF ML MLC MLE MO MPM MRI Stands for Local Market Power Mitigation Marginal Cost of Congestion Marginal Cost of Losses Metered Energy Adjustment Factor Minimum Load Minimum Load Cost Minimum Load Energy Market Operator Market Power Mitigation Market Results Interface Slide 82

83 Common acronyms Acronym PPT PIR PIRP RED REM RI-MPR RMR RMT RT RT PM Stands for Pacific Prevailing Time Participating Intermittent Resource Participating Intermittent Resource Program Ramping Energy Deviation Regulation Energy Management Renewable Integration Market & Product Review Reliability Must Run Regulatory Must Take Real-time Real-time Performance Metric Slide 83

84 Common acronyms Acronym MW MWh NERC OA OASIS OE OMAR PC PDM PM Stands for Megawatt Megawatt Hour North American Electric Reliability Corporation Operational Adjustment Open Access Same Time Information System Optimal Energy Operational Meter Analysis & Reporting Pre-calculation Persistent Deviation Metric Performance Metric Slide 84

85 Common acronyms Acronym RTD RTED RTM RTPD SaMC SC SCED SCID SIBR SMEC Stands for Real-time Dispatch Real-time Economic Dispatch Real-time Market Real-time Pre-Dispatch Settlements and Market Clearing Scheduling Coordinator Security Constrained Economic Dispatch Scheduling Coordinator ID Scheduling Infrastructure Business Rules (application) System Marginal Cost of Energy Slide 85

86 Common acronyms Acronym SQMD SRE STUC TD TEE TG TOR UIE VER WECC Stands for Settlement Quality Meter Data Standard Ramping Energy Short-Term Unit Commitment Trade Day Total Expected Energy Tie Generator Transmission Ownership Right Uninstructed Imbalance Energy Variable Energy Resource Western Electricity Coordinating Council Slide 86