NOTICE DATE:  April 11, 2024                     

NOTICE TYPE:  M-A041124-01 CRR

SHORT DESCRIPTION:  Enforcement of Congestion Revenue Right (CRR) Transaction Limit for Long-Term Auction Sequence (LTAS) Auctions

INTENDED AUDIENCE:  CRR Account Holders and Counter-Parties

DAY AFFECTED:  April 11, 2024

LONG DESCRIPTION:  On December 8, 2023, ERCOT implemented System Change Request (SCR) 807 which increased the total Congestion Revenue Rights (CRR) auction transaction limit to 400,000 transactions per CRR auction.   

When appropriate, ERCOT has been exercising its discretion and not initiating a CRR transaction adjustment period when CRR Account Holders submit more transactions than the established maximum transaction limit for an auction. Per Protocol Section 7.5.2 (2) (d), this discretion can be exercised when the total number of transactions submitted does not exceed the number of transactions that the CRR Auction system can successfully process.  

The CRR Auction system has recently been experiencing much longer run times than normal, particularly with Long-Term Auction Sequence (LTAS) auctions. Therefore, until further notice, ERCOT will initiate a transaction adjustment period when the total number of submitted transactions plus grouped baseload transactions exceeds 400,000 for LTAS auctions.

The first LTAS auction which will enforce the 400,000-transaction limit will be the 2024.2nd6.AnnualAuction.Seq1 auction. The credit and bid windows will close for the 2024.2nd6.AnnualAuction.Seq1 auction on Thursday, April 18, 2024, at 17:00. Based on historical participation a transaction adjustment period may be triggered for the 2024.2nd6.AnnualAuction.Seq1 auction, which would result in a transaction adjustment period close of Friday, April 19, 2024, at 17:00. As a reminder the credit window will remain closed after 17:00 on April 18, 2024, and will not reopen in the event of a transaction adjustment period.

Currently ERCOT does not anticipate the need to enforce the 400,000-transaction limit for monthly auctions.  

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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