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Day-Ahead LRP For Discussion Purposes ONLY

Day-Ahead LRP For Discussion Purposes ONLY. Presented to Markets Committee February 12, 2004 Robert B. Burke. Purpose of Presentation. Get feedback on program features that will be acceptable to those customers who are likely to participate in the Day-Ahead programs

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Day-Ahead LRP For Discussion Purposes ONLY

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  1. Day-Ahead LRPFor Discussion Purposes ONLY Presented to Markets Committee February 12, 2004 Robert B. Burke

  2. Purpose of Presentation • Get feedback on program features that will be acceptable to those customers who are likely to participate in the Day-Ahead programs • A formal program design is NOT being proposed • A formal program proposal will be presented in the near future

  3. Concepts • Day-Ahead is an option off RT Demand Response Programs • 30-Minute Notice • 2-Hour Notice • Profiled Response • Under Design • Day-Ahead ICAP program described in M-LRP • Day-Ahead Economic program

  4. Day-Ahead Programs • DA Demand Response • Provided as an option for RT Demand Programs to bid Day-Ahead • Additional DA Demand Program as defined in M-LRP • ICAP Credit • Bid required for all program days • Standing offer (weekly, monthly, seasonal) • DA Price Response • No ICAP Credit • Not required to submit bid for all program days • Make offer when willing to curtail

  5. Notification • Results of Day-Ahead Demand Response provided through similar reports to present Day-Ahead Energy Market results

  6. Example 1RT 30-Minute or 2-Hour Notice Demand Response Resource optionally bids day-ahead and clears in hours 10 a.m. through 2 p.m. No payment for any interruption outside cleared hours

  7. Example 2RT 30-Minute or 2-Hour Notice Demand Response For the period covering cleared DA bid, same as previous slide During OP-4 program event: pay according to RT program ICAP measured per program rules (during OP-4 event) Payment for any interruption during DA cleared & RT event hours

  8. Example 3RT 30-Minute or 2-Hour Notice Demand Response For the period covering just cleared DA bid, same as previous slide During OP-4 program event: pay according to RT program ICAP measured per program rules (during OP-4 event) Payment for any interruption during DA cleared & RT event hours

  9. Bid Parameters • 100 kW minimum • 100 kW increments • Bid up to contract amount • RT OP-4 Program: can bid less than contract amount • DA ICAP Program: must bid contract amount • Single bid price for all hours (7 a.m. – 6 p.m.) • Price floor and ceiling • Bid deadline same as day-ahead

  10. Settlement • Paid DA LMP • Deviation during DA cleared hours charged or paid at RT LMP (outside OP-4 program hours) • Deviations during OP-4 program hours charged or paid at MAX(RT LMP, Floor) • Meter data submitted by 1 p.m. 2nd business day • No payment for interruptions outside of DA cleared or OP-4 program hours

  11. Basis for Clearing Examples Day-Ahead Potential Load Real-Time Load with DR Interruption 75 MW Load Expected 10 MW (DR Expected) 75 MW Load 0 MW Loads (DR)

  12. Bidding & Clearing • Load and Generation balanced: • Day Ahead • Real-Time • Settlement

  13. DA Market Strategies

  14. Strategy 1 • Deviations not in balance (no supply deviation) • Settlement not in balance • Who buys RT load that didn’t materialize (DR)?

  15. Strategy 2 • DA load cannot hedge against this charge • Charge back load deviation from LR to load • Load responsible for RT price separation from DA

  16. Strategy 3 • Load wants to forecast LR interruption • Load and generation in balance • LR settled from separate mechanism (network load for example)

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