NOTICE DATE: November 12, 2024
NOTICE TYPE: M-C110824-02 Operations
SHORT DESCRIPTION: Results of Price Impact Analysis - Incomplete Weekly Database Load Update
INTENDED AUDIENCE: All Market Participants
DAYS AFFECTED: November 1, 2024
LONG DESCRIPTION: On November 8, 2024, ERCOT notified Market Participants of an issue concerning an incomplete weekly database load update which resulted in some modeling components of the NOV_ML1 Network Operations Model not getting added to the Market Management System. See Market Notice M-C110824-01.
In order for ERCOT to seek approval of a price correction by the ERCOT Board of Directors (ERCOT Board), ERCOT Protocol Section 6.3(7)(b) requires that the absolute value impact to any single Counter-Party in the Real-Time Market must meet one of the following two criteria:
- 2% and also greater than $20,000; or
- 20% and also greater than $2,000.
ERCOT has determined that Operating Day (OD) November 1, 2024 meets the criteria for seeking ERCOT Board approval for a price correction. The number of Counter-Parties meeting one of the two criteria for significance for seeking ERCOT Board approval for the price correction are shown in the table below.
|
Operating Day
|
No. of Counter-Parties meeting criteria in Protocol Section 6.3(7)(b)(i)
|
No. of Counter-Parties meeting criteria in Protocol Section 6.3(7)(b)(ii)
|
|
11/01/2024
|
0
|
2
|
For each OD that met the criteria, the table below has the maximum estimated absolute value impact to any individual Counter-Party.
|
Operating Day
|
Maximum Amount
($ Thousands)
|
Maximum Percentage for Criterion (i)*
|
Maximum Percentage for Criterion (ii)**
|
|
11/1/2024
|
$2.7
|
NA
|
44.59%
|
* The maximum of percentage change to any single Counter-Party with impact more than $20,000.
** The maximum of percentage change to any single Counter-Party with impact more than $2,000.
ERCOT intends to seek an approval of correction to Real-Time Market (RTM) prices for November 1, 2024 at the Reliability and Markets Committee on December 2, 2024, and the ERCOT Board meeting on December 3, 2024. ERCOT also intends to provide information regarding the price correction to the Technical Advisory Committee (TAC) at its November 20, 2024 meeting.
CONTACT: If you have any questions, please contact your ERCOT Account Manager. You may also call the general ERCOT Client Services phone number at (512) 248-3900 or contact ERCOT Client Services via email at ClientServices@ercot.com.
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