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Market Enhancement Task Force (METF) Update November 1, 2012 TAC Meeting

Market Enhancement Task Force (METF) Update November 1, 2012 TAC Meeting. Kenneth Ragsdale ERCOT. METF Activities to Date.

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Market Enhancement Task Force (METF) Update November 1, 2012 TAC Meeting

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  1. Market Enhancement Task Force (METF) Update November 1, 2012 TAC Meeting Kenneth Ragsdale ERCOT

  2. METF Activities to Date • Formed by TAC in February 2012 to “Evaluate the costs and benefits of enhancements to ERCOT Nodal processes and to recommend market efficiency improvements to Real-Time SCED that provide better Resource Commitment and Dispatch”. • Listed and prioritized “Enhancement Opportunities”. • Improve Commitment and Dispatch of QSGRs, Load Resources and Storage Resources. • Reviewed and discussed 3 vendor/ISO presentations on the features of their Real-Time Market Systems. • All of the vendors have a common framework comprising of a multi-interval Real-Time Commitment (RTC) and Real-Time Dispatch (RTD). TAC

  3. June 28, 2012 TAC Direction for METF • Provide to TAC by October • a recommendation on the scope of work and approach for a project to provide “Enhancements to the Real-Time Market” that • uses the framework of a multi-interval Real-Time Commitment and Real-Time Dispatch • takes into consideration information from the Brattle report and concepts in approved and in-flight NPRRs • a plan for a phased implementation of RTC and RTD features. TAC

  4. Two Proposals Presented at METF in August 2012 • Real-Time Market Enhancement Strawman (21 page word document) • http://www.ercot.com/content/meetings/metf/keydocs/2012/0830/05_real_time_mkt_enhancement_strawman_8_24_2012.doc • Hour Ahead Market (14 slide PPT) • http://www.ercot.com/content/meetings/metf/keydocs/2012/0830/07_pres_hour_ahead_market.ppt TAC

  5. Comments Have Been Submitted by Market Participants on the Two Proposals • The two proposals are significantly different from each other and provide different types of enhancements. • Market Participants have provided comments based on the given description of each of the proposals and other ongoing Resource Adequacy discussions. • Have discussed (at a high level) the “Market Impact” of each of the proposals. TAC

  6. Over-Mitigation Issue and NPRR 444 • The “Over-Mitigation issue” is being addressed by CMWG. • NPRR 444 and any modifications of NPRR 444 are being addressed by WMS. (Note that the concept of a pricing run is included in the RTM Enhancement Strawman.) TAC

  7. Next Steps • Before the 11-27-12 METF meeting, ERCOT plans to prepare and distribute a draft “single document” summarizing the key issues on the two proposals. • At the 11-27-12 METF meeting --- METF to finalize the summary document. • At the 11-29-12 TAC meeting ----TAC to discuss (in detail) the two proposals and next steps. TAC

  8. Questions or Suggestions Questions and/or Suggestions. TAC

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