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Real-Time Co-Optimization
PUC Project No. 48540 addresses implementation of Real-Time Co-Optimization in the ERCOT Market. This section contains work products from the Real-Time Co-Optimization Task Force (RTCTF) which is responsible for market design details. The RTCTF is a non-voting body that reports directly to the ERCOT Technical Advisory Committee (TAC). RTCTF is responsible for developing the necessary policy principles to implement a Real-Time Co-Optimization (RTC) design in the ERCOT market that aligns with Public Utility Commission of Texas (PUC) Project No. 48540, Review of Real-Time Co-Optimization in the ERCOT Market. RTCTF is also responsible for reviewing draft Revision Requests (RRs) prepared by ERCOT to implement RTC policy principles. The first phase and objective (Phase I) of RTCTF is to: (a) establish the key policy principles that establish the scope of the RTC project and will be used to develop the ERCOT rules, and (b) identify policy issues that are beyond the scope of the RTC project. The second phase and objective (Phase II) of RTCTF is to review the draft RRs prepared by ERCOT for implementation of the policy principles established in Phase I.
Key Principles |
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|---|---|
| Key Principle 1.1 | Ancillary Service Demand Curves and Current Market Price Adders |
| Key Principle 1.2 | System-Wide Offer Cap and Power Balance Penalty Curve |
| Key Principle 1.3 | Offering and Awarding of Ancillary Services in Real-Time |
| Key Principle 1.4 | Systems that Input into the Real-Time Optimization |
| Key Principle 1.5 | Process for Deploying Ancillary Services |
| Key Principle 1.6 | Ancillary Service Imbalance Settlement with RTC |
| Key Principle 2 | Suite of Ancillary Service Products |
| Key Principle 3 | Reliability Unit Commitment |
| Key Principle 4 | The Supplemental Ancillary Service Market Process |
| Key Principle 5 | Day-Ahead Market |
| Key Principle 6 | Market-Facing Reports |
| Key Principle 7 | Performance Monitoring |
| Key Principle 8 | Out of Scope Items |
Background
In June 2018, the Independent Market Monitor (IMM) for the ERCOT wholesale electricity market released a report that includes its evaluation of the impacts of RTC on the ERCOT market. ERCOT also released a study showing some additional impacts of RTC to supplement the IMM report.
IMM Software to Estimate Benefits of Real-Time Co-optimization
The ERCOT Independent Market Monitor (IMM) has developed software that allows Market Participants to assess the benefits of the potential implementation of RTC in the ERCOT wholesale electricity market. The PUC is studying the impacts of RTC in the ERCOT market, which is associated with PUC project number 47199.
The software includes a series of data files from 2017 that can be used to run a simulation showing how RTC would have impacted market outcomes in 2017. The download includes a how-to file, software, input files, and detailed results files. A supplemental file (2017securedata) must be accessed through the ERCOT MIS Reports and Extracts tab.
Download the IMM Software from Dropbox.