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NPRR325

Summary

Title: Price Correction During SCED Process Failure
Next Group:
Next Step:
Status: Approved on 03/22/2011
Effective Dates:
04/01/2011

Action

Date Gov Body Action Taken Next Steps
03/22/2011 BOARD Approved
03/03/2011 TAC Recommended for Approval ERCOT Board consideration of NPRR325
02/17/2011 PRS Recommended for Approval TAC consideration of NPRR325

Voting Record

Date Gov Body Motion Result
03/22/2011 BOARD To approve NPRR325 as recommended by TAC in the 3/3/11 TAC Report. Passed
03/03/2011 TAC To recommend approval of NPRR325 as recommended by PRS in the 2/17/11 PRS Report. Passed
02/17/2011 PRS To recommend approval of NPRR325 as revised by PRS and to forward NPRR325 to TAC. Passed

Vote tallies here reflect individual votes, not the weight of the votes by market segment. Affirmative votes are not recorded in these vote tallies. For additional details on the voting record, please consult the Recommendation or Action Report, or the official vote tally if available, as posted in the key documents.

Background

Status: Approved
Date Posted: Feb 10, 2011
Sponsor: ERCOT
Urgent: Yes
Sections: 6.3, 6.5.9.2, 6.6.9
Description: This Nodal Protocol Revision Request (NPRR) clarifies the Settlement method that will be used if ERCOT identifies that Real-Time Settlement Point Prices are erroneous and correcting the error will affect Real-Time Dispatch.
Reason: As noted in the Market Notice dated December 22, 2010, a software error resulted in system-wide negative Real-Time Locational Marginal Prices (LMPs) and Real-Time Settlement Point Prices for the first Settlement Interval (00:15) of Operating Day December 15, 2010. Because the current Nodal Protocols do not specify how erroneous intervals are settled, ERCOT Board approval of a Settlement methodology for the relevant Settlement Interval was required. On January 18, 2011, the ERCOT Board approved the price corrections as requested by ERCOT. If ERCOT identifies that the market solution is erroneous and correcting the error will affect the Base Points that were received by Qualified Scheduling Entities (QSEs) or if ERCOT identifies that the published Real-Time Settlement Point Prices were inconsistent with the Base Points that were received by QSEs, then there needs to be a defined method for settling the interval to ensure accurate accounting for electricity production and delivery among Market Participants.. This NPRR provides such a Settlement methodology.

Key Documents

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