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R7.3 Mock Monthly Allocation/Auction - Conclusion

This report provides an update on the status of R7.3 activities, including bilateral trades and general issues. The report also highlights the upcoming R7.4 kick-off and the completion of Market Readiness Criteria for CRR3.

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R7.3 Mock Monthly Allocation/Auction - Conclusion

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  1. R7.3: Mock Monthly Allocation/Auction(Unstructured) Conclusion EDS 3 Release 7 (CRR) March 28th, 2008

  2. Table of contents Status of R7.3 activity – week 3 (bilateral trades) General issues Next week: R7.4 kick-off

  3. Status of R7.3 activity – week 3 (bilateral trades) • No new participants completed R7.1 catch-up activity • Total participants completed R7.1 = 56 • 39 participants participated in bilateral trade activity – initiated or accepted trades (69.64% participation) American Electric Power Service Corp FPL Upton Wind II LP BP FPL Upton Wind III LP Bryan Texas Utilities FPL Upton Wind IV LP Calpine Energy Services LP GEUS Citi Goldman Sachs City of Austin Green Mountain Energy Co City of Garland Indian Mesa Wind (LCRA) Constellation Energy Commodities Group Indian Mesa Wind (TXU) CPS Energy Just Energy Texas LP DB Energy Trading LLC Keystone Energy Partners Direct Energy LP LCRA Edison Mission Marketing & Trading Inc Luminant Energy Co LLC EnergyCo Marketing & Trading LLC Reliant Energy Power EPIC Merchant Energy TX LLC Sempra Energy Trading LLC Exelon STEC First Choice Power LP StarTex Power FPL Energy Power Marketing Inc Suez Energy Marketing FPL Energy Pecos Wind I LP Suez Energy Resources FPL Energy Pecos Wind II LP West Texas Wind Energy FPL Energy Upton Wind I LP

  4. General issues • New defect identified by MPs • Buy bilateral trade posting can only be OBL, not OPT • ERCOT is sharing questions received by MP on how the auction works • Posted on eds3 website http://nodal.ercot.com/readiness/eds3/documents/index.html (“FAQ” ppt)

  5. CRR3 Market Readiness Criteria met ERCOT has met Market Readiness Criteria CRR3 by the completion of R7.3

  6. Coming up – R.4: Unstructured annual allocation/auction *Note: there is no scheduled activity next week (1st week of R7.4). This time is set aside for MPs if they would like 1-on-1 time with an ERCOT SME to clarify questions concerning R7.1-R7.3 or R7.4 (CRR annual auction). Email crrinfo@ercot.com to schedule time with SME. R7.4 Kick-off *No scheduled activity • Objective • ERCOT conducts mock 24-month allocation (NOIEs submit self-created nominations) • ERCOT conducts mock 24-month auction (CRR AHs submit self-created bids; NOIE offers) • CP assign credit limit to CRR market; CRR AH submits self-imposed credit limit • CRR AHs bilaterally trade CRRs • Exit Criteria • This sub-release is complete when: • The allocation successfully optimizes all submitted nominations • The auction successfully optimizes all submitted bids/offers within required time • The auction results are successfully downloaded by CRR AHs who wish to view them *Completion of this sub-release will meet Market Readiness Criteria CRR5– Operation of Annual CRR Auction and Allocation.

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