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Market Trials Congestion Revenue Rights

Market Trials Congestion Revenue Rights. Weekly Update. August 27, 2010. Antitrust Admonition. ANTITRUST ADMONITION

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Market Trials Congestion Revenue Rights

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  1. Market TrialsCongestion Revenue Rights Weekly Update August 27, 2010 http://nodal.ercot.com 1

  2. Antitrust Admonition ANTITRUST ADMONITION ERCOT strictly prohibits Market Participants and their employees who are participating in ERCOT activities from using their participation in ERCOT activities as a forum for engaging in practices or communications that violate the antitrust laws. The ERCOT Board has approved guidelines for members of ERCOT Committees, Subcommittees and Working Groups to be reviewed and followed by each Market Participant attending ERCOT meetings. If you have not received a copy of these Guidelines, copies are available at the Client Relations desk. Please remember your ongoing obligation to comply with all applicable laws, including the antitrust laws. DISCLAIMER All presentations and materials submitted by Market Participants or any other Entity to ERCOT staff for this meeting are received and posted with the acknowledgement that the information will be considered public in accordance with the ERCOT Websites Content Management Operating Procedure. http://nodal.ercot.com 2

  3. Agenda • Anti-trust Admonition • Environment Report • Planned / unplanned outages • Known Issues • Standing Reports and Updates • Future activities • Question and Answers / General Discussion • FAQ ERCOT asks that Market Participants log into the WebEx session using their company name and then their name. This will allow ERCOT to take roll-call offline http://nodal.ercot.com 3

  4. Market Trials 2010 Roadmap http://nodal.ercot.com 4

  5. Day-to-day operations summary: Planned / Unplanned Outages of EDS Planned Outages Next Thursday, 9/2, from 3:00pm until 10:00pm Unplanned Outages None http://nodal.ercot.com 5

  6. Known Issues • Topology Processor (software that creates the PSS/E file from the Network data) does not export the outages to CRR’s PSS/E file • Vendor has fixed the issue in the software, and it is being tested now • CRR team has a workaround by using the TCR PSS/E file with outages and augmenting it for the CRR application

  7. Standing Reports and Updates: General reminders / updates • September Auction Market Trials Activities • 2010 September Monthly Auction 2010 September Auction Market Results Posted on Friday, 8/27 by 2am 2010 September Auction Market Results visible in CRR application on Friday, 8/27 by 8am 2010 September Auction Market Invoices Posted on Monday, 8/30 2010 September Auction release of CRR Credit Exposure on Monday, 8/30 at 4:45pm • October Auction Market Trials Activities – NEW • Schedule being planned now • Purpose is to use the outages and equipment updates provided by the TDSP’s due on 9/1 • NOIE’s must have their paperwork submitted to Ercot by Wednesday, 9/8, at 5:00pm ** Market Trials Handbook has been updated with these new dates http://nodal.ercot.com 7

  8. Q&A Q&A / Open Forum http://nodal.ercot.com 8

  9. How will new Market Participants get Qualified for future CRR markets? • Your Wholesale Client Services Representative will continue to walk you through the Registration Process after Texas Nodal Implementation, just as they have done during Market Trials. • The cutoff date of 8/13 for the December 2010 auction was to allow enough time (i.e., two months) for Legal, Registration, Credit, and CRR to complete their qualification activities.  While this is the only market with a specified “cut-off” date, two months is an adequate timeframe to expect for the registration, qualification and credit approval to be completed.

  10. The behavior of 24 Hour bids in the CRR Monthly Auctions • 24 hour bids can be entered into CRR Monthly auctions • The auction engine treats a 24 hour bid as a single bid across the three time of use network models (Peak WD, Peak WE, Off-peak) • Single MW amount • Single $/MW-hr bid price (not to exceed) • If the Bid Price is higher than the weighted (by number of hours) average of the three times of use clearing prices(Peak WD, Peak WE, Off-peak) then the CRR bid will be awarded fully (assuming there is no active budget constraint). • If the Bid Price is lower than the weighted average of the three times of use clearing prices then the CRR bid will not be awarded. • If the Bid Price is equal to the weighted average of the three times of use clearing prices then the CRR bid will be awarded at some level between 0 and 100%, but the same in each time of use..

  11. 24 Hour Example in Monthly Market • 24 hour CRR bid for February 2013 Monthly Auction • 28 x 8 = 224 Off-peak hours • 8 x 16 = 128 PeakWE hours • 20 x 16 = 320 PeakWD hours • 28 x 24 = 672 total hours • For a certain path prices are as follows • Off-peak 2$/MW-hr (arbitrary number for this example) • PeakWE 3$/MW-hr (arbitrary number for this example) • PeakWD 8$/MW-hr (arbitrary number for this example) • 24 hour = (224x2 + 128x3 + 320x8)/672 = $5.048/MW-hr • Note that a 24 hr bid of $6/MW-hr would be fully awarded in each time of use even though it was less than the clearing price in the PeakWD time of use. • Also note that a 24 hr bid of $4/MW-hr would not be awarded at all, even though it was more than the clearing price in the Off-peak and PeakWE times of use.

  12. The behavior of 24 Hour bids in the CRR Annual Auctions • 24 hour bids can be entered into CRR Annual auctions • The auction engine treats a 24 hour bid as a short cut for entering three separate bids in the three time of use network models (Peak WD, Peak WE, Off-peak) • If the Bid Price is higher than the clearing price in a given time of use (Peak WD, Peak WE, Off-peak) then the CRR bid will be awarded fully in that time of use (assuming there is no active budget constraint). • If the Bid Price is lower than the clearing price in a given time of use then the CRR bid will be not be awarded in that time of use. • If the Bid Price is equal to the clearing price in a given time of use then the CRR bid will be awarded at some level between 0 and 100% in that time of use.

  13. 24 Hour Example in Annual Market • 24 hour CRR bid for February 2013 in 2012/2013 Annual Auction • For a certain path prices are as follows • Off-peak 2$/MW-hr (arbitrary number for this example) • PeakWE 3$/MW-hr (arbitrary number for this example) • PeakWD 8$/MW-hr (arbitrary number for this example) • Note that a 24 hr bid of $6/MW-hr would be fully awarded in PeakWE and Off-peak, but not awarded in PeakWD • Also note that a 24 hr bid of $4/MW-hr would also be fully awarded in PeakWE and Off-peak, but not awarded in PeakWD

  14. What is the CRR Schedule of Activities from now until Go-Live? http://nodal.ercot.com 14

  15. What is the CRR Schedule of Activities from now until Go-Live? http://nodal.ercot.com 15

  16. What is the CRR Schedule of Activities from now until Go-Live? http://nodal.ercot.com 16

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