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50129 Revision to Balancing Energy Payments from Specific Resources

50129 Revision to Balancing Energy Payments from Specific Resources. COPS Update Paula Feuerbacher October 25, 2005. BACKGROUND:. PRR -- 569:

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50129 Revision to Balancing Energy Payments from Specific Resources

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  1. 50129 Revision to Balancing EnergyPayments from Specific Resources COPS Update Paula Feuerbacher October 25, 2005

  2. BACKGROUND: • PRR -- 569: • Modifies the settlement calculations so that the payment to the QSE will be based on the bid premium supplied by the QSE adjusted for the difference in the Fuel Index for the day before the Operating Day and the Fuel Index for the day the service was provided. This results in a normalized FIP being used for Local Balancing Energy payments. • These changes affect aggregated and non-aggregated Generators (gas-fired units only) and LaaRs. • Estimated deployment date: mid November, 2005

  3. AFFECTED CHARGE TYPES: • This Revision to Balancing Energy from a specific Resource project will alter the following formulas: • LBEUP • LBEDN • LBEUPAGG • LBEDNAGG • NOTE -- FIPd-1 & FIPd: • FIPd-1 stands for the FIP price for the previous Trade Day. • FIPd stands for the FIP price for the current Trade Day.

  4. Non-aggregated charge types: • LBEUP: • Current Formula: Max(OOMLEUPBP, MCPER) - MCPER • Modification: (OOMLEUPBP/FIPd-1)*FIPd. • The same logic applies to LaaRs. • LBEDN: • Current Formula: Max(0, (MCPER – OOMLEDNBP)) • Modification: (OOMLEDNBP/FIPd-1)*FIPd. • LaaRs are not eligible for LBEDN payment.

  5. Aggregated charge types: • LBEUPAGG: • Current Formula: OOMLEUPBPAGG – MCPER • The OOMLEUPBPAGG is calculated by taking the MINIMUM Bid Premium of all the units that make up the aggregated site. • Modification: (OOMLEUPBP/FIPd-1)*FIPd • The OOMLEUPBPAGG will still take the Minimum Bid Premium of all the units that make up the aggregated site but now how the individual units calculate that premium will change under the new formula. • LBEDNAGG: • Current Formula: Max(0, MCPER – OOMLEDNBPAGG) • The OOMLEDNBPAGG is calculated by taking the MAXIMUM Bid Premium of all the units that make up the aggregated site. • Modification: (OOMLEDNBP/FIPd-1)*FIPd • The OOMLEDNBPAGG will still take the Maximum Bid Premium of all the units that make up the aggregated site but now how the individual units calculate that premium will change under the new formula.

  6. QUESTIONS ? ? ?

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