Operations; Settlements

Wed, Oct 14, 2020 10:27 AM

M-A070820-03 ERCOT Board approval of Day-Ahead Market (DAM) price corrections for Operating Days (ODs) June 8 - 12, 15 - 17, 19 - 20, 24 - 25, 28 - 30, 2020, July 1 - 6, 2020, and Real-Time Market (RTM) price corrections for OD July 1, 2020


NOTICE DATE: October 14, 2020

NOTICE TYPE: M-A070820-03 Operations

SHORT DESCRIPTION: ERCOT Board approval of Day-Ahead Market (DAM) price corrections for Operating Days (ODs) June 8 - 12, 15 – 17, 19 – 20, 24 – 25, 28 – 30, 2020, July 1 – 6, 2020, and Real-Time Market (RTM) price corrections for OD July 1, 2020

INTENDED AUDIENCE: All Market Participants

DAYS AFFECTED: June 8 - 12, 15 – 17, 19 – 20, 24 – 25, 28 – 30, 2020, and July 1 – 6, 2020

LONG DESCRIPTION: On July 8, 2020, ERCOT informed Market Participants that DAM and RTM prices were under investigation for ODs June 8, 2020 through July 7, 2020. Therein, ERCOT notified Market Participants that certain transformer ratings were erroneously modeled in DAM and RTM. ERCOT informed Market Participants that it would correct prices for DAM OD July 7, 2020, before they became final. ERCOT further noted that it would likely seek review of DAM and RTM prices for various ODs between June 8, 2020 and July 6, 2020, by the ERCOT Board of Directors (Board). See Market Notice M- A070820-01.

On August 26, 2020, ERCOT issued Market Notice M-A070820-02 notifying Market Participants that Day-Ahead Settlement Point Prices (DASPPs), DAM Market Clearing Prices for Capacity (MCPCs), and DAM Locational Marginal Prices (LMPs) for ODs June 8 - 12, 15 – 17, 19 – 20, 24 – 25, 28 – 30, 2020, and July 1 – 6, 2020, and Real-Time Settlement Point Prices (RTSPPs), Real-Time Price for Energy Metered for Resources (RTRMPRs), and Real-Time Locational Marginal Prices (LMPs) for Electrical Buses for OD July 1, 2020 were in need of correction, and would be seeking Board review of such prices at the October 2020 Board meeting.

On October 13, 2020, the Board reviewed the aforementioned prices for the impacted ODs, determined they were significantly affected by an internal data input error, and directed ERCOT to implement the appropriate price corrections pursuant to ERCOT Protocol Sections 4.5.3(5) and 6.3(6). See Urgent Board of Directors Meeting (October 13, 2020), Agenda Item 7.1.

Board approval of these price corrections necessitate the issuance of DAM and RTM Resettlement Statements. Market Notices will be posted for each DAM and RTM resettlement in accordance with ERCOT Protocol Sections 9.2.6 and 9.5.7.

ADDITIONAL INFORMATION: The corrected prices will be posted in both CSV and XML formats in the DAM Price Corrections folder located at http://www.ercot.com/mktinfo/prices/.

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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