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August 7, 2013 | NEPOOL markets committee

August 7, 2013 | NEPOOL markets committee. Erin H. O’Brien. Senior Tariff analyst | market development. FCM Efforts and Manual 20 Clean-up. Conforming Manual Changes. Background. FCM Efforts and Manual 20 Clean-up. Conforming Manual Changes – Background.

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August 7, 2013 | NEPOOL markets committee

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  1. August 7, 2013 | NEPOOL markets committee Erin H. O’Brien Senior Tariff analyst | market development FCM Efforts and Manual 20 Clean-up Conforming Manual Changes

  2. Background FCM Efforts and Manual 20 Clean-up

  3. Conforming Manual Changes – Background • Bring Manuals 20 and MVDR in line with previous FCM efforts: • Static De-list Bid Changes • After the qualification determination notifications are issued, the ISO will open a seven-day window to allow Market Participants to modify Static De-list Bids. • FCM Redesign Changes • Offer floor mitigation • Elimination of floor price • Revised mitigation rules • Dynamic De-list Bid threshold • Elimination of Pivotal Supplier and Quantity Rule • Elimination of “Cost of New Entry” (CONE)

  4. Conforming Manual Changes – Background(continued) • Manual 20 clean-up • Update use of defined terms consistent with Section I.2.2. • Address expiration of Master FCM Schedule included in M-20, Section I • General clean-up • Incorporate or correct hyperlinks • Update or remove outdated practices • Make non-substantive grammatical edits

  5. Examples of Manual Changes • Static De-List Bid Changes for Manual 20 • Add submission window to FCM Master Schedule • Include cross references to MR1, Section III.13.1.2.3.2.1.1.2 where appropriate • FCM Redesign Changes – Offer Floor Mitigation • Replace references of “.75 times CONE” to state “the relevant Offer Review Trigger Price” • Update Section 13 references to point to Appendix A provisions • FCM Redesign Changes – Elimination of Floor Price • Delete provisions related to the floor price

  6. Examples of Manual Changes (continued) • FCM Redesign Changes – Revised Mitigation Rules • Update the Dynamic De-List Bid threshold from “.8 times CONE” to “$1.00 kW/month” • FCM Redesign Changes – Elimination of CONE • Replace references of “2*CONE” to state “the Forward Capacity Auction Starting Price” • Manual clean-up • Delete expiring dates in FCM Master Schedule and update with FCTS references • Update former GADsnXL references to PowerGADs with associated software hyperlink • Update defined term use by lower casing terms or applying the correct defined term

  7. Static De-list Bid – Past Committee Review

  8. FCM Redesign – Past Committee Review

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