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JULY 8-10, 2014 | NEPOOL MARKETS COMMITTEE

JULY 8-10, 2014 | NEPOOL MARKETS COMMITTEE. Matt Brewster. Market Development mbrewster@iso-ne.com | 413.540.4547. Estimate of time & cost for ISO to implement systems to calculate resource 5-minute energy values (option B). Subhourly Real-Time Market Settlements.

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JULY 8-10, 2014 | NEPOOL MARKETS COMMITTEE

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  1. JULY 8-10, 2014 | NEPOOL MARKETS COMMITTEE Matt Brewster Market Developmentmbrewster@iso-ne.com | 413.540.4547 Estimate of time & cost for ISO to implement systems to calculate resource 5-minute energy values (option B) Subhourly Real-Time Market Settlements

  2. Recall: implementing subhourly settlement requires that ISO obtain resource 5-minute energy quantities • 5-minute revenue quality meter (“RQM”) values of generator output and DARD pump consumption are needed by ISO • ISO already has the 5-minute market prices, and quantities of reserve and regulation provided by resources • Two alternatives are being considered by ISO for obtaining 5-minute energy RQM values Option A) Continue existing process: meter readers report RQM to ISO at 5-minute intervals Option B) Create a new process: ISO estimates 5-minute RQM using hourly RQM and asset telemetry This presentation includes the ISO’s estimated time & cost for option B

  3. Option A and B consider only scope of work to produce 5-minute values for settlement The time & cost figures discussed today pertain only to the scope of work included left side of the line Time & cost to modify ISO systems for 5-minute data and settlements are the same under either option Option A Settlement ISO 5-m data store 5-m energy values Option B

  4. ISO’s estimated time & cost to implement option B • High-level requirements: • Automated software to create profiled 5-minute energy values using asset telemetry and hourly revenue meter quantities (RQM) for initial and data reconciliation settlements • Automated correction for missing or bad telemetry data • Informational reports of anomalies to meter reader • Based on NYISO process • No change to current ISO-NE settlement timelines • Minimum of 12 months, and at least $2 million • These are estimates only. There is significant uncertainty regarding actual requirements of the system(s) ISO would be asked to implement. Additional scope and other priority work could increase time or cost.

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