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Update on Market Trials and CMS Developments - July 18, 2013

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This update outlines the latest developments regarding market trials and the Credit Management System (CMS) as of July 18, 2013. Key items include the submission of approximately 4,800 Auction Revenue Rights (ARRs) for self-conversion along with 31,400 bids in the 2013 Phase 2 Annual Auction Round 1. The upcoming week will also address issues related to settlements, with reference prices being revised for new and existing locations. Notably, Virtual Market Trials will commence, with CMS preparing for upcoming virtual bids and offers starting in late August.

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Update on Market Trials and CMS Developments - July 18, 2013

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  1. Update on Market Trials July 18, 2013

  2. Acronyms • CMS – Credit Management System • TCR – Transmission Congestion Rights • ARR – Auction Revenue Rights

  3. Auction Participation • 2013 Phase 2 Annual Auction Round 1 • Approximately 4800 ARRs self-converts submitted • Approximately 31400 Bids submitted • 2013 Monthly Phase 2 for August • Ongoing this week

  4. CMS Issues • Areas effected • Reference Prices for new and updated Settlement Locations • Excessive Product Final Reference Prices • Caused by CMS’s consumption of a new Commercial Model with new Settlement Locations and updates to existing Settlement Locations

  5. Upcoming • Virtual Market Trials • CMS will start seeing Virtual Bids and Offers in the late August timeframe • Split Go-Live • CMS will have two environments • One environment for TCR Go-Live activities that will start in October 2013 • One environment for Virtual activities, Day-Ahead activities, Real-Time ENS activities, and Settlements Market Trials

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