Briefing on ISO Markets Debi Le Vine Director of Market Services Board of Governors Meeting General Session September 10 - 11, 2009
ISO teams continue vigilance over new markets. ! Met summer loads to date with few issues ! Day-ahead generally running well ! Rate of hour-ahead scheduling process failure has decreased ! Real-time solution ! Adding improvements in process and software Slide 2
Market publishing processes performing well. April May June July August Day-Ahead: 83.3% 87.1% 76.7% 71.0% 90.3% Published by 1300 100.0% 100.0% 76.7% 83.9% 93.6% Published by 1330 100.0% 100.0% 86.7% 90.3% 96.8% Published by 1400 Real-time Pre-Dispatch 97.15% 98.72% 97.29% 96.44% 98.25% (including Hour-Ahead Scheduling Process) 98.37% 99.45% 98.62% 95.65% 98.45% Real-time Dispatch Slide 3
Positive Real-Time LAP prices predominately under $1,000. 12.5% RTM pricing in July & August continues to moderate Percent of LAP LMPs in Price Bin 10.0% 7.5% 5.0% 2.5% 0.0% 8-Apr 20-May 3-Jun 10-Jun 17-Jun 1-Jul 8-Jul 22-Jul 29-Jul 5-Aug 12-Aug 19-Aug 26-Aug 1-Apr 15-Apr 22-Apr 29-Apr 6-May 13-May 27-May 24-Jun 15-Jul $250-$499 $500-$999 $1000-$1499 $1500-$1999 $2000-$2500 LAP LMP Price Bins Slide 4
ISO is monitoring the congestion revenue rights revenue adequacy . ! Taken steps to adjust monthly allocation and auction to ensure revenue adequacy ! Need first years data to better understand CRR usage ! 2010 annual process initiated, completion November 20 ! September monthly process completed April May June July August Revenue ($2,929,673) ($3,792,370) ($449,115) $638,200 ($206,116) Auction $3,315,470 $3,485,874 $3,570,311 $2,152,731 $1,830,817 Net 1/ $385,797 ($306,496) $3,121,196 $2,790,930 $1,624,701 1/ Monthly net CRR revenue amounts allocated to measured demand Slide 5
ISO continues to timely publish settlement statements and invoices. Published On Time Advisory Daily Credit Statement 100% ! Published 7 days after each trade date Daily Initial Statement 100% Daily Initial Re-Issue Statement 100% Monthly Invoice 100% Daily T+76 Recalculation Statement 99% 1/ 1/ Not due to market software, issue with publishing Slide 6
ISO continues to receive fewer settlement statement disputes than expected. ! Market participant settlement inquiries not resolved prior to first initial statement may lead to a dispute ! Dispute: Market participant formally disputes a charge on their settlement statement. ! Through September 8, dispute count was as follows: ! 1411 total disputes ! 1337 closed or resolved - 551 valid (41%) ! 209 in progress Slide 7
ISO has made some improvements and is focusing on additional improvement opportunities. ! Improvements made since last Board meeting: ! Management of transmission limits ! Recognize regulations role in ramping deficiencies ! Future improvements: ! Market modeling process ! Implement a new market model (DB 42) ! Price correction process Slide 8
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