Briefing on ISO Markets Debi Le Vine Director of Market Services - - PowerPoint PPT Presentation

Briefing on ISO Markets

Debi Le Vine Director of Market Services Board of Governors Meeting General Session September 10 - 11, 2009

Slide 2

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 3

Market publishing processes performing well.

99.45% 98.72% 100.0% 100.0% 87.1%

May

98.45% 95.65% 98.62% 98.37%

Real-time Dispatch

98.25% 96.44% 97.29% 97.15%

Real-time Pre-Dispatch (including Hour-Ahead Scheduling Process)

96.8% 90.3% 86.7% 100.0%

Published by 1400

93.6% 83.9% 76.7% 100.0%

Published by 1330

90.3% 71.0% 76.7% 83.3%

Day-Ahead: Published by 1300

August July June April

Slide 4

Positive Real-Time LAP prices predominately under $1,000.

RTM pricing in July & August continues to moderate

0.0% 2.5% 5.0% 7.5% 10.0% 12.5% 1-Apr 8-Apr 15-Apr 22-Apr 29-Apr 6-May 13-May 20-May 27-May 3-Jun 10-Jun 17-Jun 24-Jun 1-Jul 8-Jul 15-Jul 22-Jul 29-Jul 5-Aug 12-Aug 19-Aug 26-Aug

Percent of LAP LMPs in Price Bin

$250-$499 $500-$999 $1000-$1499 $1500-$1999 $2000-$2500 LAP LMP Price Bins

Slide 5

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

$1,624,701 $2,790,930 $3,121,196 ($306,496) $385,797

Net 1/

$1,830,817 $2,152,731 $3,570,311 $3,485,874 $3,315,470

Auction

($206,116) $638,200 ($449,115) ($3,792,370) ($2,929,673)

Revenue August July June May April

1/ Monthly net CRR revenue amounts allocated to measured demand

Slide 6

ISO continues to timely publish settlement statements and invoices.

99% 1/ Daily T+76 Recalculation Statement 100% Monthly Invoice 100% Daily Initial Re-Issue Statement 100% Daily Initial Statement 100% Advisory Daily Credit Statement

! Published 7 days after each trade date

Published On Time

1/ Not due to market software, issue with publishing

Slide 7

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 8

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