Ferc 764 Spring Release

Front 1

Current bid floor is -$30/MWh. What will the floor be after the spring release and why drop it?

Back 1

New floor is -150 MWh and will help manage overgen.

Front 2

What is BCR and why is it important?

Back 2

BCR is bid cost recovery. Currently netter over the entire day but will move to separating DA BCR amounts form RUC/real-time. Addresses potential adverse behavior.

Front 3

How is BCR calculated?

Back 3

Bid costs minus market revenues equals net market amount. BCR uplift will occur when eligible bid costs exceed eligible revenues.

Front 4

Why are making changes due to FERC 764

Back 4

To remove barriers to the integration of variable energy resources.

Front 5

What are some benefits of 764?

Back 5

Option to schedule intertie and gen energy with 15 minute granularity, requires VERs to provide weather and forced outage data for forecasting, and addresses convergence bidding issues on the ties.

Front 6

What does VER and EIR stand for?

Back 6

Variable Intermittent Resource and Eligible Intermittent Resource such as wind and solar. After spring release, EIR is replaced by VER.

Front 7

What options do VERs have regarding forecasting?

Back 7

They can have an SC submitted forecast or ISO provided forecast.

Front 8

How can an SC submit forecasts and what happens if they do it poorly?

Back 8

SCs submit forecasts through SIBR and if they're no good at it, the ISO will take away their ability to self-forecast.

Front 9

How are VERs treated in the FMM?

Back 9

For each 15 minute interval, an upper dispatch limit will be set to the average of the VERS three forecasts for the corresponding 5 minute intervals.

Front 10

What are the forecasting requirements?

Back 10

1. SC submits forecasts through SIBR
2. Forecast can be submitted up to 4 hours ahead but no later than 10 minutes prior
3. Forecast is in 5 minute intervals and minimum of 2 and a half hours must be submitted.

Front 11

Besides using the forecasts for dispatching energy, what will the ISO do with forecasts?

Back 11

At the top of the hour. the forecasting tool will look at the previous hour, and calculate the hourly difference between actual and forecast and save the value.

Front 12

At what price will FMM dispatches settle?

Back 12

The FMM price.

Front 13

For VERS, what's the minimum and maximum duration of configurable multiple hours?

Back 13

Minimum is 2.5 hours, max is 10 hours.

Front 14

How are interties dispatched and settled and are hourly schedules accepted?

Back 14

Dispatched and settled in 15 minute intervals and yes they have an option for hourly schedules but are price takers in the FMM.

Front 15

How are dynamic resources dispatched and settled?

Back 15

Financially binding 15 minute schedules but existing 5 minute dispatch and settlement remains.

Front 16

How are intertie and internal convergence bids handled?

Back 16

Both are closed out at same FMM LMP.

Front 17

Summarize the changes to VERs in the FMM.

Back 17

Reduced scheduling lead time, scheduling granularity reduced from hourly to 5 minutes and eliminates PIRPs need for netting imbalance energy monthly.

Front 18

What are real-time bids used for?

Back 18

Accept hourly block schedules, schedule resources for energy in the FMM and economically dispatch resources int the 5 minute real-time market

Front 19

What's the HASP do after spring release?

Back 19

Produces advisory schedules, final block intertie schedules for energy/AS. Each hourly block has 4 equal 15 minute schedules. Schedules are final and settled at FMM LMP to settle each 15 minute interval.

Front 20

How will the RTUC be used after spring release?

Back 20

Will be used to co--optimize energy schedules and A/S awards at T-22.5

Front 21

Which RTPD run is the first interval in the new FMM?

Back 21

RTPD 2 is the first interval.

Front 22

At what time does RTD optimization run?

Back 22

At T=7.5 minutes prior to the RTD.

Front 23

From whom is A/S procured in real-time?

Back 23

From resources internal to the ISO system that don't submit hourly block bids through the FMM process.

Front 24

How is A/S procured on an hourly basis?

Back 24

In the HASP from non-dynamic resources that submit hourly block bids.

Front 25

How many options will interties have to bid?

Back 25

1. self scheduled hourly block
2. economic bid hourly block
3. economic bid hourly block with single intra-hour economic schedule change.
4. economic bid with participation in FMM.
5. Dynamic transfer
6. Self-scheduled VER forecast

Front 26

How does the self-scheduled hourly block work?

Back 26

SC submits self-schedules that are fixed for the hour, settles at the 15 minute prices over the operating hour with results published at T-45.

Front 27

How does the self-scheduled VER forecast work?

Back 27

SC schedules output of VER in 15 minute intervals based on forecasted output. Each VER has a series of 5 mintue forecasts and FMM calculates a self schedule for each 15 minute interval in the time horizon by taking an avg. of the 3 5 minute forecasts.

Front 28

How will economic bids for hourly blocks work?

Back 28

SC submits economic bids that will be a fixed quantity for the hour and that the ISO can schedule based on price. Resource will be dispatched from HASP and treated as a self-schedule.

Front 29

How will economic bids hourly block with single intra-hour economic schedule change work?

Back 29

SC submits bids that will be a fixed quantity for the hour and that the ISO can schedule based on price. Allows for the schedule to be changed once per hour if the 15 minute prices meet criteria specified by SC.

Front 30

How will economic bids with participation in the FMM work?

Back 30

SC submits economic bids that the ISO can schedule in the 15 minute intervals based on price. The hour ahead process can result in advisory energy schedules that differ in each 15 minute interval.

Front 31

How will dynamic transfer work?

Back 31

Similar to internal gen with the potential for hour ahead processing to result in advisory energy to differ in each 15 minute interval.

Front 32

How are operating reserves procured in HASP?

Back 32

In HASP, only spin and non-spin are available. Can only be procured from non-dynamic resources with
a. self schedule hourly block
b. economic hourly block
c. economic hourly block with intra-hour option.

Front 33

How will dynamic transfers for VERs work?

Back 33

Existing imports from VERs can register as a tie gen with VER option to participate in FMM or if a dynamic scheduling agreement exists, it can also participate as a dynamic tie generator.

Front 34

Which resources can have a primary and alternate scheduling point?

Back 34

Dynamic transfers. When the primary is out, the alternate tie becomes the scheduling point and CAS will recognize the alternate tie.

Front 35

How will the new ADS instruction cycle work?

Back 35

In HASP, for non-dynamic resources, SCs have the option to accept, partially accept, or decline instructions. User is allowed to provide a response or undo a response in a 5 minute window. Otherwise ADS will respond with a "timed out."

Front 36

In the FMM for non-dynamic, VER and hourly blocks getting dispatched in ADS, what options do users have?

Back 36

Can provide a response in a 2.5 minute window else ADS will auto default accept.

Front 37

What's the e-tag deadline before the operating hour?

Back 37

20 minutes before the operating hour.

Front 38

What are the e-tag transmission profile requirements

Back 38

The transmission profile must be greater than or equal to the energy profile in all bids except for FMM economic bids. In FMM economic bids, the transmission profile must be greater than or equal to the max bid-in capacity for the operating hour and the energy profile must equal the MW awarded for the first FMM interval of the hour.

Front 39

What is the deadline for updating the energy profile of FMM economic bids and bids with an intra-hour option?

Back 39

20 minutes before the start of the FMM interval to which the schedule change applies. Normally done by the ISO automatically.

Front 40

How can SCs limit participation in the FMM to quantity in the HASP advisory energy schedule?

Back 40

By updating the transmission profile on the e-tag to the max amount it wants to make available to the FMM prior to the start of the binding FMM optimization which is no earlier than 37.5 minutes before the applicable trading hour.

Front 41

What happens if the SC doesn'thave a transmission profile > or = its advisory energy schedule?

Back 41

The resource can't be scheduled for energy in the FMM for amounts greater than what is listed in the transmission profile.

Front 42

When is the final energy profile in a dynamic tag updated?

Back 42

Within 60 minutes after the operating hour.