March 2021 WMS Report by RESMI SURENDRAN TAC Meeting
"Explore the detailed discussions, revision requests, and actions from the March 2021 WMS Report presented at the RESMI SURENDRAN TAC Meeting. Delve into Winter Storm Items, CRR Activity Calendar, and upcoming events in this comprehensive report."
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Presentation Transcript
WMS Report RESMI SURENDRAN TAC MEETING MARCH 2021
Overview Previous meetings Feb 3rd& Mar 3rd Revision Requests WMS Discussions WMS Actions
Revision Requests New PRS Referrals & VCMRRs NPRR1063, Dynamic Rating Transparency NPRR1067, Market Entry Qualifications, Continued Participation Requirements, and Credit Risk Assessment VCMRR031, Clarification Related to Variable Costs in Fuel Adders Working Groups Discussions NPRR981, Day-Ahead Market Price Correction Process (WMWG) NPRR1056, Market Impact Generic Transmission Constraint Notification (WMWG) NPRR1058, Resource Offer Modernization for Real-Time Co-Optimization (WMWG) NOGRR215, Limit Use of Remedial Action Schemes
WMS Discussions Winter Storm Items: WMS stakeholders provided an extensive list of items for TAC consideration, which consisted of items requiring immediate attention, process reviews, and performance reviews. ERCOT experts explained the shortfall and default uplift process and answered questions on settlements related market notices. CRR Activity Calendar: Discussion on the impact of delaying the posting of auction results around the holidays at the end of 2022 and 2023. WMS approved the CRR Activity Calendar as presented by ERCOT at WMS meeting on February 3, 2021.
WMS Actions NPRR1023 Endorsed as amended by the 1/25/21 ERCOT comments NPRR1060 Endorsed as amended by the 1/8/21 ERCOT comments NPRR1063, Dynamic Rating Transparency Assigned to CMWG NPRR1067, Market Entry Qualifications, Continued Participation Requirements, and Credit Risk Assessment Assigned to MCWG VCMRR031, Clarification Related to Variable Costs in Fuel Adders Assigned to RCWG Approved CRR Activity Calendar
WMS Winter Storm Items RESMI SURENDRAN TAC MEETING MARCH 2021
Overview WMS stakeholders provided an extensive list of items for TAC consideration Identified items spanned the scope of WMS, some were in scope of multiple subcommittees, and some were out of WMS scope and/or require policy direction at a higher level Issues within WMS scope can be categorized into three buckets: Items requiring immediate attention Process review Performance review
Items Requiring Immediate Attention Changes to recover short fall while minimizing potential for further default $2.5M / 30 days default uplift invoice cap Process for replenishing CARD funds Should netting be done at Counter Party level? Low hanging fruits with high impact DAM Ancillary Service price with Demand Curve or price cap Including firm load shed in Reliability Deployment Price Adder
Process Review CDR/SARA - reflecting reliability risk, risk of range of ERCOT emergency events - average Vs sensitivities Vs worst case, extreme and overlapping events, gas market coincident and offsetting risks, fuel supply firm/non-firm/storage Study assumption changes RMR, MERM/EORM, Load forecast Reserves Requirement Winter Vs Summer, higher AS quantities, New AS types, higher EEA trigger level Credit exposure calculations DC tie historic Vs Actual, Net DAM/RT Vs separate RT Operations Situation Awareness - fuel availability, PRD available Cost recovery - compensation for firm fuel, exceptional fuel price process, RUCing
Performance Review Resource performance: ERS would more help, self curtailment, critical assets DR payment for deployment beyond obligation, AS imbalance, critical assets Batteries FFR, charging Others SODG/DER could more help; DC Tie update planning assumption RT Operation Congestion management ORDC and PRC convergence Metering/ Billing/ Settlement
