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Update on Proxy Heat Rate and Long-Term Solutions by Verifiable Cost Working Group

The Verifiable Cost Working Group (VCWG) presented updates on Proxy Heat Rates (PHR) to the ERCOT Wholesale Market Subcommittee on September 14, 2011. Current PHR is 16.62888, with an average of 8.131554 and minimum of 6.358056. Various options, including fixed values and rolling 12-month averages, were discussed. Key solutions proposed include clawback charges for energy produced during specific intervals, improvements to DAM offer caps, and adjustments to account for true startup costs. VCWG seeks direction from WMS for further discussions on resolving PHR issues.

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Update on Proxy Heat Rate and Long-Term Solutions by Verifiable Cost Working Group

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  1. Verifiable Cost Working Group (VCWG) Update Presentation to the ERCOT Wholesale Market Subcommittee September 14, 2011

  2. Proxy Heat Rate • Current Proxy Heat Rate 16.62888 • Average 8.131554 • Minimum 6.358056 • Options • Fixed (generic) PHR value. • Rolling 12 month values; using the current average until a 12 month average is available. • 15 PHR posted for Nodal. Min 6.3; avg 7.3 (not including the 16), 8.3 (including the 16 hr) VCWG Summary

  3. Example Calculations VCWG Summary

  4. Long Term Solution for PHR • If the Generation Resource produces energy prior to or following the time period specified by the RUC Dispatch Instruction and is meets the criteria for Startup in section 5.6.2 for the RUC instruction(s), there shall be a clawback charge against the RUC Guarantee for energy produced to startup and shutdown. This charge shall apply to the intervals preceding the first RUC committed hour where the Resource shows a status of ONTEST in its COP and the Intervals following the last RUC committed hour where the unit shows a status of ONTEST in its COP. • Solution will allow for DAM offer Caps to include all fuel for startup and reflection of true costs in DAM. • Will allow for more accuracy for removing Energy Revenues during Startup. VCWG Summary

  5. VCWG needs direction from WMS to continue to discuss a solution to the PHR issue. • ?????

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