VCMRR #5 · Revision Request

VCMRR005 Fuel Index Price for Resource Definition and Real-Time Make-Whole Payments for Exceptional Fuel Cost Events

Approved Urgent sponsor RCWG posted 2014-10-27 ercot.com

ReasonMarket efficiencies or enhancements Other: Revises the Verifiable Cost Manual to incorporate and provide the appropriate verification for FIPRr and Real-Time Make-Whole Payment for exceptional fuel cost provisions.

Created2014-10-29

Sections Affected

Sections 123and 7; Appendices 35678 and 9.

Summary

This Verifiable Cost Manual Revision Request (VCMRR) will modify the Verifiable Cost Manual to incorporate the Fuel Index Price for Resource (FIPRr) and Real-Time Make-Whole Payment for exceptional fuel cost provisions. Resources may designate FIPRr based on the Gas Daily’s Waha index price (Waha Fuel price (WFP)), or the weighted price of the Gas Daily Fuel Index Price (FIP) and the WFP. The default FIPRr shall be the FIP. Resources that designate FIPRr based on WFP or the weighted price must submit documentation to ERCOT indicating such designation and provide proof of physical delivery from such areas, as described in the Verifiable Cost Manual. In addition, this VCMRR modifies the Verifiable Cost Manual to specify the verification requirements for the Real-Time Make-Whole Payment provision.

Timeline

Oct 27 '14
WMSFiled by RCWG
- 005VCMRR-01, Index Fuel Price 102714 Oct 27 '14 · Revision Request
Oct 29 '14
WMSEmail Vote / Unlisted Meeting
WMSRecommended for Approval Recommended for approval
“To recommend approval of VCMRR005 as submitted.” — Passed

→ TAC for consideration
- 005VCMRR-02 Argus Media Comments 102814 Oct 28 '14 · Revision Request Comments
Nov 20 '14
TAC TAC Meeting
TACDeferred/Tabled Tabled
“To table VCMRR005 for one month.” — Passed

→ TAC for consideration
- 005VCMRR-03 WMS Report 102914 Nov 3 '14 · Committee Report
- 005VCMRR-04 ERCOT Comments 111414 Nov 14 '14 · Revision Request Comments
- 005VCMRR-05 Impact Analysis 111914 Nov 19 '14 · Staff Report
Dec 18 '14
TAC TAC Meeting
TACApproved Recommended for approval Amended by the Nov 14 '14 ERCOT comments
“To approve VCMRR005 as recommended by WMS in the 10/29/14 WMS Report and as amended by the 11/14/14 ERCOT comments; with an effective date of January 1, 2015 for the "Verification for Real-Time Make-Whole Payments for Exceptional Fuel Costs" provision and to discontinue the manual workaround of this section on May 1, 2015 (grey-box); and for VCMRR005 to be effective upon system implementation of NPRR664 of which ERCOT will revisit with TAC the rank and priority prior to project initiation.” — Passed
- 005VCMRR-06 TAC Report 112014 Nov 21 '14 · Committee Report
—
Posted since the last meeting
- 005VCMRR-07 TAC Report 121814 Dec 19 '14 · Committee Report