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Pilot Project Intra-hour energy exchange tests

Pilot Project Intra-hour energy exchange tests

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Pilot Project Intra-hour energy exchange tests

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  1. Pilot ProjectIntra-hour energy exchange tests NEPOOL Markets Committee September 20, 2004 Harry Tom ISO-NE Markets Development

  2. Presentation Overview • Estimated Cost of Pilot Test Transactions • Limit Cost Exposure to Participants • Alternate Cost Allocation Method • Objectives of Pilot • Proposed Timeline of Pilot • Other items

  3. Estimated Cost of Pilot Test Transactions • Using Roseton and Sandy Pond proxy bus data from November 2003 • In accordance with Pilot Project Description: • Chose Tuesday/Wednesday • Scheduled flows between HE11-HE14 • Total Test energy of 1,600MWhs • The lowest net cost would have been $1,649 • The highest net cost would have been $10,907

  4. Limiting Cost Exposure to Participants • Estimated costs are based upon historical data (price effect of power flows not accounted for) • Limit cost of actual tests • Curtail Pilot transaction if price separation exceeds $50/MWh • Test power (1,600 MWhs) cost to be no greater than $80,000

  5. Alternate Cost Allocation Method GOAL – gain needed information from empirical testing with minimal impact on Participants PROPOSAL - broaden the allocation • Utilize method similar to Inadvertent Energy Revenue charges and credits • Allocate and charge to RTLO and RTGO over all locations • Incorporated into Pilot Project Description document

  6. Objectives of Pilot • Identify operations issues associated with intra-hour short term exchanges of energy • Evaluate tools and data needed to facilitate intra-hour exchanges • Observe the effect of intra-hour energy exchanges on all Proxy Bus prices • Collect information and issue report on Pilot tests • Evaluate information in context of any future activities with respect to intra-hour energy exchanges

  7. Proposed Timeline • Develop Pilot and seek Market Participant approvals – August 2004/September 2004 • FERC Filing – October 2004 • Conduct Pilot testing – December 2004 – January 2005 • Evaluate Pilot program – December 2004 – June 2005 • Determine next steps

  8. Other items • Provide information on Proxy Bus definition

  9. Questions