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ERCOT Market Education
Settlements 301
2
This presentation provides a general overview of the Texas
Nodal Market and is not intended to be a substitute for the
ERCOT Protocols, as amended from time to time. If any
conflict exists between this presentation and the ERCOT
Protocols, the ERCOT Protocols shall control in all respects.
For more information, please visit:
http://www.ercot.com/mktrules/nprotocols/
Legal Disclaimers and Admonitions
Protocol Disclaimer
3
Housekeeping
• Restrooms
• Refreshments
• Attendance sheet
• Questions
Please silence smart phones
& other electronics
4
This course is designed to provide key information to anyone
who needs to understand financial settlements in the ERCOT
Wholesale Market.
Course Audience
This includes:
• Market Participants and ERCOT
staff who will be directly involved
in Congestion Revenue Rights,
Day-Ahead, and Real-Time
Settlements and Invoicing
• All Market Participants who are
part of the settlement process
5
Course Topics
CRR Auction
Revenue
Distribution
Charges & Payments for CRRs
6
Course Topics
DAM
Participation in DAM
• Energy
• AS
• PTP Obligations
DAM Commitment
• Make-Whole
Settlement of CRRs purchased in the Auction
CRR Auction
Revenue
Distribution
Charges & Payments for CRRs
7
Course Topics
DAM
Participation in DAM
• Energy
• AS
• PTP Obligations
DAM Commitment
• Make-Whole
Settlement of CRRs purchased in the Auction
CRR Auction
Revenue
Distribution
Charges & Payments for CRRs
CRR Balancing
Account
Reconcile CRR
Short payments
8
Course Topics
DAM
Participation in DAM
• Energy
• AS
• PTP Obligations
DAM Commitment
• Make-Whole
Settlement of CRRs purchased in the Auction
CRR Auction
Revenue
Distribution
Charges & Payments for CRRs
CRR Balancing
Account
Reconcile CRR
Short payments
RUC
Commitment
• Make-Whole
• Clawback
Decommitment
9
Course Topics
DAM
Participation in DAM
• Energy
• AS
• PTP Obligations
DAM Commitment
• Make-Whole
Settlement of CRRs purchased in the Auction
CRR Auction
Revenue
Distribution
Charges & Payments for CRRs
RUC
Commitment
• Make-Whole
• Clawback
Decommitment
Real-Time
Real-Time Activities
• Imbalances
• Base Point Deviations
• Other odds & ends
Settlement of PTP Obligations purchased in the DAM
Real Time Ancillary Service Settlements
Revenue Neutrality
CRR Balancing
Account
Reconcile CRR
Short payments
10
Course Topics
Statements & Invoicing
CRR Balancing
Account Real-Time
RUCDAM
CRR
Auction
11
• Review Operational Concepts
• Define operational impact to settlements
• Settlement Examples
• Payments
• Charges
• Revenue Neutrality
−Direct Assignment
−Obligation
−Load Allocation
Classroom Approach
12
Cast of Characters
The Settlements Story
13
• Name
• Company for which you work
• Market Entity
• QSE
• TSP
• ERCOT
• Resources
• Other
• Experience in the industry or experience with Settlements
Please let us know your:
Introductions
14
As a class, we will:
• See two definitions on the screen for a Nodal Settlements
term
• Choose which statement is true
Terminology – Something old; Something new
Activity: Market Settlement Terminology
LMP
UFE
AML
LRS
SPP
DAM
CRR
PTP
AMT
RUC
15
Locational Marginal Pricing (LMP):
Activity: Market Settlement Terminology
The marginal cost of relieving one MW of congestion on a
Transmission constraint N
The offer-based marginal cost of serving the next
increment of Load at an Electrical BusTrue?
?
16
Settlement Point Price:
Activity: Market Settlement Terminology
A price calculated for a Settlement Point for each
Settlement Interval using Shadow Prices N
A price calculated for a Settlement Point for each
Settlement Interval using LMPsTrue?
?
17
Settlement Intervals:
Activity: Market Settlement Terminology
15 minutes:
• Day-Ahead Market
Hourly:
• Real-Time
• Congestion Revenue Rights N
15 minutes:
• Real-Time
Hourly:
• Congestion Revenue Rights
• Day-Ahead MarketTrue?
?
18
Charge Type:
Activity: Market Settlement Terminology
A line item on an ERCOT Settlement Statement True
A choice a customer must make when paying their bill
(i.e. Visa, MasterCard, etc.) N?
?
19
Billing Determinant:
Activity: Market Settlement Terminology
A variable used in Settlements to calculate a Charge Type True
A flag that determines the Statement on which a Charge
Type Appears N?
?
20
Adjusted Metered Load:
Activity: Market Settlement Terminology
Load usage data that has been adjusted for the difference
between scheduled load and actual load. N
Load usage data that has been adjusted for
Transmission Losses, Distribution Losses, and
Unaccounted for Energy (UFE)
True?
?
21
Metering and Data Aggregation
Activity: Market Settlement Terminology
Meter Data
Load Serving Entity (LSE)
Qualified Scheduling Entity (QSE)
Distribution Losses
Transmission Losses
Adjusted Metered Load (QSE)
Unaccounted For Energy (UFE)
22
Load Ratio Share:
Activity: Market Settlement Terminology
The ratio of an Entity’s Adjusted Metered Load to total
ERCOT Adjusted Metered Load for an intervalTrue
The ratio of an Entity’s Adjusted Metered Load to
Adjusted Metered Generation for an interval N?
?
23
Module Conclusion
DAM
Participation in DAM
• Energy
• AS
• PTP Obligations
DAM Commitment
• Make-Whole
Settlement of CRRs purchased in the Auction
CRR Auction
Revenue
Distribution
Charges & Payments for CRRs
RUC
Commitment
• Make-Whole
• Clawback
Decommitment
Real-Time
Real-Time Activities
• Imbalances
• Base Point Deviations
• Other odds & ends
Settlement of PTP Obligations purchased in the DAM
Real Time Ancillary Service Settlements
Revenue Neutrality
CRR Balancing
Account
Reconcile CRR
Short payments