Issues

NPRR322

Summary
Action
Voting Record
Background
Key Documents

Summary

Title	Real-Time PTP Option Modeling
Next Group
Next Step
Status	Approved on 06/21/2011
Effective Dates	06/22/2011 Sections 4.4.5(4), 4.4.5.1(4), and 4.4.5.2(1) 02/14/2013 All remaining sections

Action

Date	Gov Body	Action Taken	Next steps
06/21/2011	BOARD	Approved
06/02/2011	TAC	Recommended for Approval	ERCOT Board consideration of NPRR322
05/19/2011	PRS	Recommended for Approval	TAC consideration of NPRR322
03/24/2011	PRS	Deferred/Tabled	PRS language consideration

Date

Gov Body

Action Taken

Next steps

06/21/2011

BOARD

Approved

06/02/2011

TAC

Recommended for Approval

ERCOT Board consideration of NPRR322

05/19/2011

PRS

Recommended for Approval

TAC consideration of NPRR322

03/24/2011

PRS

Deferred/Tabled

PRS language consideration

Voting Record

Date	Gov Body	Motion	Result
06/21/2011	BOARD	To Approve NPRR322 as recommended by TAC in the 6/2/11 TAC Report and as revised by the ERCOT Board with an effective date of "upon ERCOT Board approval" for paragraph (4) of Section 4.4.5, paragraph (4) of Section 4.4.5.1 and paragraph (1) of Section 4.4.5.2.	Passed
06/02/2011	TAC	To recommend approval of NPRR322 as amended by the 6/1/11 CPS Energy comments and to recommend a priority of Critical, a rank of 9.45 and an effective date of "upon ERCOT Board approval" for paragraph (4) of Section 4.4.5 and paragraph (4) of Section 4.4.5.1.	Passed
05/19/2011	PRS	To recommend approval of NPRR322 as amended by the 5/19/11 CPS Energy comments as revised by PRS; to grant NPRR322 Urgent status; and to forward NPRR322 to TAC via roll call vote.	Passed
03/24/2011	PRS	To table NPRR322 and to request that WMS review NPRR322.	Passed

Date

Gov Body

Motion

Result

06/21/2011

BOARD

To Approve NPRR322 as recommended by TAC in the 6/2/11 TAC Report and as revised by the ERCOT Board with an effective date of "upon ERCOT Board approval" for paragraph (4) of Section 4.4.5, paragraph (4) of Section 4.4.5.1 and paragraph (1) of Section 4.4.5.2.

Passed

06/02/2011

TAC

To recommend approval of NPRR322 as amended by the 6/1/11 CPS Energy comments and to recommend a priority of Critical, a rank of 9.45 and an effective date of "upon ERCOT Board approval" for paragraph (4) of Section 4.4.5 and paragraph (4) of Section 4.4.5.1.

Passed

05/19/2011

PRS

To recommend approval of NPRR322 as amended by the 5/19/11 CPS Energy comments as revised by PRS; to grant NPRR322 Urgent status; and to forward NPRR322 to TAC via roll call vote.

Passed

03/24/2011

PRS

To table NPRR322 and to request that WMS review NPRR322.

Passed

Background

Status:	Approved
Date Posted:	Feb 10, 2011
Sponsor:	Luminant Energy Company LLC
Urgent:	Yes
Sections:	2.1, 3.2.5, 4.3, 4.4.5, 4.4.5.1, 4.4.5.2, 4.4.6, 4.4.6.1, 4.4.6.2, 4.4.10, 4.5.1, 4.5.3, 4.6.3, 6.6.10, 7.9.1.3, 7.9.1.6, 7.9.2.1, 7.9.2.2, 7.9.2.3, 7.9.3.1, 7.9.3.3, 7.9.3.4, 9.5.3, 9.19.1
Description:	This Nodal Protocol Revision Request (NPRR) provides that all Point-to-Point (PTP) Options will be settled in the Day-Ahead Market (DAM), unless DAM fails to execute. If a Non-Opt-In Entity (NOIE) purchases a PTP Obligation in the DAM and owns a PTP Option for the same source and sink pair, and the MWs of the PTP Obligation are not more than the MWs of the PTP Option, then the PTP Obligation will settle in Real-Time as only the positive difference between the sink and source Settlement Point Prices, much like a PTP Option. This NPRR also includes a requirement that NOIEs shape the PTP Options going to Real-Time according to their Load forecast and adds a new type of Congestion Revenue Right (CRR) to handle the treatment of PTP Obligations that are treated as PTP Options for Settlement purposes.
Reason:	PTP Options that are taken to Real-Time rather than being settled in the DAM are causing DAM congestion to be exaggerated compared to actual congestion occurring in Real-Time. The cause for this exaggeration is that since the PTP Options are options rather than obligations, the counter-flow effects of some of the PTP Options are not being considered in the DAM model but, in fact, actually occur in Real-Time. This exaggeration of congestion from DAM to Real-Time causes a divergence of pricing between the two.