ERCOT Updates on Congestion Management and Market Activities
Stay informed with the latest updates from the Congestion Management Working Group meeting, including discussions on Long-Term Auction Solutions, Locational Marginal Prices, Day-Ahead Market activities, and granular product types for CRR TOU. Explore insights into transaction limits, historical metrics, winter storm impacts, and proposed changes to optimize market efficiency.
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Presentation Transcript
Congestion Management Working Group - 04/14/2025 Meeting Update MAY 7, 2025 CHENYAN GUO, CHAIR
CRR Long Term Auction Solution Time, Transaction Limits o ERCOT staff spoke to chart of historical and current metrics that included total transactions, peak weekday transactions and PWD runtime hours oPeak weekday case in last month took 203 hours to solve o Operational flexibility for CRR Auction Transaction limits o2025.2nd6.AnnualAuction.Seq1 will be the first LTAS to use the transaction limit oThe limits are not intended to be the permanent limits o ERCOT staff gave updates to the ongoing NPRRs regarding Removal of multi-month Bidding Functionality and Option Pricing report oERCOT is still looking at the Revision Requests and plans to include a change to increase the minimum bid quantity from 0.1MW to 1 MW
High Locational Marginal Prices (LMPs) oRecording setting LMPs were observed on February 19, 2025 oWinter Storm Kingston passed through Texas February 18~21, 2025 oMultiple planned outages oMultiple binding constraints oMultiple great ideas bounced around during stakeholder discussion oFlexibilities to have a split between Shadow price and constraint oActivate only one constraint in case there are parallel ones oEstablish a Congestion Component Price Cap oERCOT staff will provide more updates in coming CMWG meetings
Day Ahead Market PTP Activity Update oERCOT communicated DAM delays related to PTP and PTP with links to an Option (PTPLO) to Wholesale Market Working Group in 2021 oHigh volumes of PTP intervals records caused increasing optimization engine execution times oSubmission fee for unawarded PTPs was proposed, the IMM has also recommended a PTP fee since 2020 state of the market report, but this issue was deprioritized due to Winter Storm Uri impacts oUnderlying issues remain unresolved, and performance concerns are beginning to re- emerge oLate solutions postings oDAM aborts oERCOT will reevaluate correlation of unawarded PTPs vs. execution time and analyze submission activity to make informed suggestion of a fee structure
Granular Product Type for CRR TOU oVistra staff proposed the implementation of more granular CRR TOU blocks to align with the latest market changes and improve the auction speed and efficiency oIncreasing IRR changes generation and congestion patterns oCurrent blocks (5x16 and 2x16) show significantly price variability oCongestion values frequently shift between positive and negative within a block oThe proposal considers more targeted products divided between solar and non-solar hours oTarget specific congestion to hedge oHedge more efficiently with obligations which may require less computational resources for CRR auction clearing, speed up process and efficiency
