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NPRR696
Summary
| Title | Price Correction Process Following a SCED Failure |
|---|---|
| Next Group | |
| Next Step | |
| Status | Approved on 08/09/2016 |
| Effective Dates |
09/01/2016
|
Action
| Date | Gov Body | Action Taken | Next Steps |
|---|---|---|---|
| 08/09/2016 | BOARD | Approved | |
| 07/28/2016 | TAC | Recommended for Approval | Revision Request Consideration |
| 07/14/2016 | PRS | Recommended for Approval | Revision Request Consideration |
| 06/16/2016 | PRS | Recommended for Approval | Impact Analysis Consideration |
| 12/10/2015 | PRS | Deferred/Tabled | Language Consideration |
| 05/14/2015 | PRS | Deferred/Tabled | Language Consideration |
Voting Record
| Date | Gov Body | Motion | Result |
|---|---|---|---|
| 08/09/2016 | BOARD | Approved NPRR696 as recommended by TAC in the 7/28/16 TAC Report. | Passed |
| 07/28/2016 | TAC | To recommend approval of NPRR696 as recommended by PRS in the 7/14/16 PRS Report. | Passed |
| 07/14/2016 | PRS | To endorse and forward to TAC the 6/16/16 PRS Report as revised by PRS and the Impact Analysis for NPRR696. | Passed |
| 06/16/2016 | PRS | To recommend approval of NPRR696 as amended by the 10/19/15 Reliant comments. | Passed |
| 12/10/2015 | PRS | To continue to table NPRR696 and refer the issue to WMS. | Passed |
| 05/14/2015 | PRS | To table NPRR696 and refer the issue to WMS. | Passed |
Background
| Status: | Approved |
|---|---|
| Date Posted: | Apr 27, 2015 |
| Sponsor: | Bill Barnes on behalf of Reliant Energy Retail Services, LLC |
| Urgent: | No |
| Sections: | 6.3, 6.5.9.2 |
| Description: | The existing process for managing price corrections following a Security-Constrained Economic Dispatch (SCED) failure creates situations where pricing outcomes are uncertain and may not reflect market conditions. When ERCOT experiences a SCED failure, the last good price is used for Settlement for the period of time when SCED does not execute. Following the failure, SCED resumes execution but ERCOT continues to take the necessary manual actions specified in paragraph (3) of Section 6.5.9.2, Failure of the SCED Process. to stabilize the system. During this stabilization period, ERCOT may or may not correct prices depending on their determination of whether the prices were erroneous or not. This creates price uncertainty for Market Participants that are actively transacting in the market. In addition, the manual actions taken in paragraph (3) of Section 6.5.9.2 following the SCED failure can significantly influence the pricing outcomes and produce results which do not reflect market conditions. This Nodal Protocol Revision Request (NPRR) establishes a price correction policy which uses the last good price for Settlement until ERCOT no longer requires manual action to stabilize the system following a SCED failure. ERCOT provides notice to Market Participants of the occurrence of a SCED failure by declaring a Watch in accordance with paragraph (1) of Section 6.5.9.2. Once the system has stabilized following a SCED failure and ERCOT no longer requires manual intervention, ERCOT will cancel the Watch in accordance with paragraph (4) of Section 6.5.9.2. By correcting prices for Settlement Intervals corresponding to the active Watch period, Market Participants will have transparency to known prices which reflect the last good SCED execution. |
| Reason: | Addresses current operational issues, Market efficiencies or enhancements |
Key Documents
Apr 27, 2015 - doc - 266 KB
May 18, 2015 - doc - 265 KB
Jun 4, 2015 - doc - 39.5 KB
Oct 19, 2015 - doc - 219 KB
Dec 1, 2015 - doc - 42.5 KB
Dec 3, 2015 - doc - 40 KB
Dec 2, 2015 - xls - 111 KB
Dec 14, 2015 - doc - 259 KB
Feb 4, 2016 - doc - 39.5 KB
Apr 6, 2016 - doc - 40.5 KB
May 5, 2016 - doc - 39 KB
May 25, 2016 - doc - 43 KB
Jun 9, 2016 - xls - 101.5 KB
Jun 9, 2016 - doc - 40 KB
Jul 21, 2016 - xls - 101.5 KB
Jul 11, 2016 - doc - 244.5 KB
Jun 29, 2016 - doc - 56.5 KB
Jul 15, 2016 - doc - 245.5 KB
Jul 28, 2016 - xls - 102.5 KB
Jul 29, 2016 - doc - 249.5 KB
Aug 11, 2016 - doc - 250 KB