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Understanding the PBPC: Virtual Generation in Current Energy Market

Explore the significance of the CurrentPBPC in the energy market, where virtual generation resources impact competitive offers. Learn about proposals from TIEC, CPS, WMS, and Nelson, with an analysis of their potential effects on peaker net margins and financial losses during negative hours in 2011.

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Understanding the PBPC: Virtual Generation in Current Energy Market

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  1. CurrentPBPC • The current PBPC is, in essence, an energy offer curve for a virtual generation resource and the curve does not reside above all competitive offers, as some might believe, but rather is integrated among the competitive offers. • This means that, when the PBPC is struck, any existing competitive offers that are priced above the PBPC are undercut and substituted by this “virtual” generator.

  2. Proposals TIEC and CPS proposed Power Balance Penalty Curve WMS Recommended Power Balance Penalty Curve Nelson proposed Power Balance Penalty Curve (4/11/12 Memorandum)

  3. Analysis of Proposals Column 1: The incremental Peaker Net Margin that the curve would produce if it were applied to 2011 weather. Column 2:  The number of hours that the PNM could go negative (2011). Column 3:  The PNM dollars lost during those negative hours (2011).  

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