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AUGUST 7–8, 2012 Markets committee

AUGUST 7–8, 2012 Markets committee. Janine Dombrowski Market Development. Timeline Adjustments for Clearing the DAM & RAA. Moving the Day Ahead Market & Reser ve Adequacy Assessment Clearing Times . Outline – Moving DAM & RAA Timelines. Background Proposal Appendix. Background.

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AUGUST 7–8, 2012 Markets committee

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  1. AUGUST 7–8, 2012 Markets committee Janine DombrowskiMarket Development Timeline Adjustments for Clearing the DAM & RAA Moving the Day Ahead Market & Reserve Adequacy Assessment Clearing Times

  2. Outline – Moving DAM & RAA Timelines • Background • Proposal • Appendix

  3. Background

  4. Background • June • Initiate a discussion of the issues facing ISO Operations and the ISO’s proposal to modify the timing of both the day-ahead results posting and RAA commitment notifications • July • Propose a timeline moving the day-ahead market clearing to two days ahead and run the RAA earlier on the day prior to the operating day • Provide additional detail about the gas and electricity market operational challenges • Describe a recent event and provided a follow-up memo • ISO posts draft whitepaper, “Assessing Gas Dependence”

  5. Background (continued) • August (today) • Provide and discuss updates to memo • Solicit input and discuss stakeholder options and proposals • Next Months • Provide additional analysis • Finalize design and provide tariff language

  6. proposal

  7. Propose Moving the DAM & RAA Clearing timelines • Produce DAM & Initial RAA Results/Schedules by 11:30 AM on the Day Prior to Operating Day (OD) • 1800 night before (OD-2)– Day-Ahead bidding deadline (currently 1200 OD-1) • 2200 night before (OD-2) – Day-Ahead clearing deadline (currently 1600 OD-1) • 0830 (OD-1) – Re-Offer period closes (currently 1800 OD-1) • 1130 (OD-1) – Initial RAA run is published (currently 2200 OD-1)

  8. Proposed Timeline Daily Initial & Evening Nomination Effective Flow 10:00 Daily Initial & Evening Nomination Effective Flow 10:00 Gas Day-1 Intra-Day 1 Effective Flow 18:00 Gas Day-1 Intra-Day 2 Effective Flow 22:00 Gas Day Intra-Day 1 Effective Flow 18:00 Gas Day -2 Gas Day -1 Gas Day Gas Day vs. Electric Day Timelines 10:00 AM 10:00 AM Daily Initial Nomination Deadline 12:30 Evening Nomination Deadline19:00 Evening Nomination Deadline19:00 Gas Day -1 Intra-Day 1 Nomination 11:00 Gas Day -1 Intra-Day 2 Nomination 18:00 Gas Day Intra-Day 1 Nomination 11:00 Electric Day -2 Electric Day -1 Electric Day 12:00 AM 12:00 AM 12:00 AM 11:00 (D-1) - 24:00 (D)Reserve Adequacy AssessmentHourly SchedulingCurrent Operating Plan5-min. Dispatch 11:30 RAA Complete 08:30 Reoffer Period Closes 22:00 DAM Clears 18:00 DAM Closes Liquidity of Gas Market Dries Up 10:00

  9. ISO Proposal: Gas Nomination Opportunities • Results in increased opportunities to procure gas

  10. Results • Generators know schedules from both the DAM & initial RAA prior to the 12:30 EST Timely Nomination Deadline • Generators who schedule gas Supply & Delivery during the Timely Nomination Cycle (12:30 PM deadline) and are confirmed – same gas treatment as Firm Customers • Better utilize the available capacity of the gas pipelines • ISO provides each pipeline gas withdrawal profile after the RAA • Earlier notification to ISO Operations of resource unavailability will allow ISO to call on longer lead time replacement generators and commit supplemental units for reliability • Ensures sufficient capacity available to meet the NE real-time demand requirements – reliable commitment

  11. Ongoing ISO Assessment and Evaluation Timing of FRM Threshold Price calculation and publication Timing of Import Capacity Resource Threshold Price calculation and publication Applicability of Appendix H DAM IBT submission timing and market settlement Hourly FTR settlement Market Monitoring impacts

  12. Questions & Discussion

  13. Appendix – Q&A

  14. Q: Is there a pattern of resource under-performance? A: The ISO has not identified any patterns other than the resources are gas-fired. Q: What are we doing now in terms of unit commitment and dispatch) to avoid the reliability impact? A: See draft whitepaper for examples. Q: How is the ISO is defining the problem and the range of potential solutions? A: See draft whitepaper for examples. Q: Can you provide the profile of start times for non-gas-fired units available for commitment? A: See July 20, 2012 Robinson/Dombrowski memo for exhibit.

  15. Q: Can you provide additional information showing both the proposed electricity modifications and potential changes or actions the gas pipelines or suppliers could take to address this issue? A: See draft whitepaper for other options. Also, note FERC’s upcoming regional technical conference on gas/electric coordination on August 20, 2012. Q: Can you provide additional information for the events of July 5-6, 2012 to identify units committed DA and in the RAA? Can you provide information on whether units were dispatched for more MWh than they cleared in DA? A: See August 1, 2012 update to Robinson/Dombrowski memo. The ISO is still evaluating other requests for information.

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