NPRR #322 · Revision Request
NPRR322 Real-Time PTP Option Modeling
ReasonPTP Options that are taken to Real-Time rather than being settled in the DAM are causing DAM congestion to be exaggerated compared to actual congestion occurring in Real-Time. The cause for this exaggeration is that since the PTP Options are options rather than obligations, the counter-flow effects of some of the PTP Options are not being considered in the DAM model but, in fact, actually occur in Real-Time. This exaggeration of congestion from DAM to Real-Time causes a divergence of pricing between the two.
Created2011-03-24
Approved2011-06-21
Sections Affected
2.13.2.54.34.4.54.4.5.14.4.5.24.4.64.4.6.14.4.6.24.4.104.5.14.5.34.6.36.6.107.9.1.37.9.1.67.9.2.17.9.2.27.9.2.37.9.3.17.9.3.37.9.3.49.5.39.19.1
Summary
This Nodal Protocol Revision Request (NPRR) provides that all Point-to-Point (PTP) Options will be settled in the Day-Ahead Market (DAM), unless DAM fails to execute. If a Non-Opt-In Entity (NOIE) purchases a PTP Obligation in the DAM and owns a PTP Option for the same source and sink pair, and the MWs of the PTP Obligation are not more than the MWs of the PTP Option, then the PTP Obligation will settle in Real-Time as only the positive difference between the sink and source Settlement Point Prices, much like a PTP Option. This NPRR also includes a requirement that NOIEs shape the PTP Options going to Real-Time according to their Load forecast and adds a new type of Congestion Revenue Right (CRR) to handle the treatment of PTP Obligations that are treated as PTP Options for Settlement purposes.
Timeline
- Feb 10 '11
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Mar 24 '11
PRS PRS MeetingPRSDeferred/Tabled Tabled Referred → WMS“To table NPRR322 and to request that WMS review NPRR322.” — Passed→ PRS language consideration
- Apr 8 '11
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Apr 21 '11
Listed without action at 2 meetings (Apr 21 '11 – May 11 '11)
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May 19 '11
PRS PRS MeetingPRSRecommended for Approval Recommended for approval Amended by the May 19 '11 CPS Energy comments Urgent status Forwarded → TAC“To recommend approval of NPRR322 as amended by the 5/19/11 CPS Energy comments as revised by PRS; to grant NPRR322 Urgent status; and to forward NPRR322 to TAC via roll call vote.” — Passed→ TAC consideration of NPRR322
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Jun 2 '11
TAC TAC MeetingTACRecommended for Approval Recommended for approval Amended by the Jun 1 '11 CPS Energy comments Priority“To recommend approval of NPRR322 as amended by the 6/1/11 CPS Energy comments and to recommend a priority of Critical, a rank of 9.45 and an effective date of "upon ERCOT Board approval" for paragraph (4) of Section 4.4.5 and paragraph (4) of Section 4.4.5.1.” — Passed→ ERCOT Board consideration of NPRR322
- 322NPRR-06 PRS Report 051911
- 322NPRR-07 PRS Voting Ballot 051911
- 322NPRR-08 Luminant Energy Company LLC Comments 052511
- 322NPRR-09 Luminant Energy Company LLC Comments 053111
- 322NPRR-10 ERCOT Comments 053111
- 322NPRR-11 Austin Energy Comments 053111
- 322NPRR-12 LCRA Comments 060111
- 322NPRR-13 Impact Analysis 060111
- 322NPRR-14 CPS Energy Comments 060111
- 322NPRR-15 ERCOT Comments 060211
- 322NPRR-16 Credit Work Group Comments 060211
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Jun 21 '11
BOARD Board of Directors MeetingBOARDApproved Approved“To Approve NPRR322 as recommended by TAC in the 6/2/11 TAC Report and as revised by the ERCOT Board with an effective date of "upon ERCOT Board approval" for paragraph (4) of Section 4.4.5, paragraph (4) of Section 4.4.5.1 and paragraph (1) of Section 4.4.5.2.” — Passed
- Nov 27 '12
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Dec 13 '12
Listed without action at 3 meetings (Dec 13 '12 – Jan 15 '13)