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Working Paper on Standardized Transmission Services and Wholesale Electric Market Design

Working Paper on Standardized Transmission Services and Wholesale Electric Market Design. Alice Fernandez, Derek Bandera, Connie Caldwell, Jignasa Gadani, Mark Hegerle, Udi Helman, David Mead, Deborah Ott, Elizabeth Rylander, Roland Wentworth, David Withnell, Andrea Wolfman. What the Paper Does.

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Working Paper on Standardized Transmission Services and Wholesale Electric Market Design

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  1. Working Paper on Standardized Transmission Services and Wholesale Electric Market Design Alice Fernandez, Derek Bandera, Connie Caldwell, Jignasa Gadani, Mark Hegerle, Udi Helman, David Mead, Deborah Ott, Elizabeth Rylander, Roland Wentworth, David Withnell, Andrea Wolfman

  2. What the Paper Does • Policy framework to be used in developing NOPR • Preliminary decisions subject to further comment • Does not address scope and governance issues

  3. Outline of the Paper • Updated single transmission tariff • New flexible transmission service • Energy and operating reserves markets • Market power monitoring and mitigation

  4. Updated Single Tariff • All transmission service under one tariff • New OATT updated for SMD and comparability • Phased implementation • First phase-interim changes to improve the OATT • Second phase- SMD

  5. New Transmission Service • New network service available to all customers • Access to all sources and sinks • Price certainty with transmission rights • Congestion charges w/o transmission rights • Locational marginal pricing (LMP) for congestion management • Transmission service scheduling integrated with energy markets • Network access charge to recover embedded costs

  6. Energy Markets • Day-ahead market • Voluntary, bid-based, security-constrained • Financially binding • Real-time market • Bid-based, security constrained • Used to settle all imbalances • Supply and demand resources participate

  7. Operating Reserves • Markets for operating reserves • Bilateral arrangements and self-schedules • Bid-based day-ahead and real time markets • Operated together with energy and transmission markets

  8. Monitoring and Mitigation • Market rules should enhance competition • Preventative mitigation measures built into market rules • Role of the Market Monitoring Unit • Independent of RTO management • Focus on withholding and market efficiency

  9. State Participation in RTO Activities • Formal role for state participation in RTO process • Advisory committees • Rate issues

  10. System Security • OATT will state requirement to comply with appropriate standards for system security and reliability • Recommendations of President’s Critical Infrastructure Protection Board • Standards may be developed by other organizations

  11. Next Steps • Release working paper • Comments on working paper – 3/27 • Address allocation of embedded costs and transmission rights • Address implementation issues • Staff strawman SMD tariff • NOPR with tariff by summer

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