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RECOGNITION OF NEW TRANSMISSION FACILITIES IN FRM REQUIREMENTS

RECOGNITION OF NEW TRANSMISSION FACILITIES IN FRM REQUIREMENTS. Marc D. Montalvo Presented to NEPOOL Markets Committee 12 September 2006. Assumptions. A historical-data driven approach providing some period of operating experience with a new facility is desirable

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RECOGNITION OF NEW TRANSMISSION FACILITIES IN FRM REQUIREMENTS

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  1. RECOGNITION OF NEW TRANSMISSION FACILITIES IN FRM REQUIREMENTS Marc D. Montalvo Presented to NEPOOL Markets Committee 12 September 2006

  2. Assumptions • A historical-data driven approach providing some period of operating experience with a new facility is desirable • A balance must be struck between the need for in-service certainty and unrealized expectations of performance • 5-6 weeks are needed to perform the analysis required to develop auction assumptions • The FRM auction timeline milestones already defined should not be altered. Recognition of New Transmission Facilities in LFRM Assumptions

  3. Proposal • To be considered in service for the purpose calculating FRM auction requirements, a new transmission facility must: • For the summer delivery period, be made available for ISO dispatch prior to midnight on December 31 of the prior year (analysis to develop summer assumptions begins February 1) • For the winter delivery period, be made available for ISO dispatch prior to midnight on April 30 of the same year (analysis to develop winter assumptions begins June 1) • Operate at at least 95% availability during the month immediately following the above deadlines Recognition of New Transmission Facilities in LFRM Assumptions

  4. Proposal Highlights • Does not alter existing timeline milestones • Provides one month of actual operations data • Provides 5-6 weeks necessary for development of auction assumptions • One month in-service requirement coupled with 95% availability requirement provides necessary balance between in-service certainty and untested predictions of performance Recognition of New Transmission Facilities in LFRM Assumptions

  5. Timeline for Summer 2007 In-Service Deadline for New Facilities to be include in Auction Assumptions Dec 31 Begin Auction Assumption Development Feb 1 Post Auction Assumptions March 19 Quoting Period Begins April 17 Quoting Period Ends April 23 Auction Results Posted April 30 Delivery Period Begins 6/1 Dec 1 Jan 1 Feb 1 March 1 April 1 May 1 June 1 Recognition of New Transmission Facilities in LFRM Assumptions

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