What is Real-Time Energy?
Real-Time Energy is the balancing settlement for the quantity deviations from each Participant's Day-Ahead Energy Market obligations, as metered in the operating day. The Participant's hourly Real-Time Energy credits and charges are calculated by multiplying the net deviation at each location by the Real-Time Locational Marginal Price for that location. The invoice amount to a Participant is the net of the Participant's hourly credits or charges, plus allocations of the hourly Marginal Loss Revenue and Inadvertent Energy credits or charges, for the billing period.
In what document(s) do I find details about Real-Time Energy?
Primary provisions for the settlement of the Real-Time Energy Market are included in, but not limited to, Market Rule 1 and ISO New England Manual for Market Rule 1 Accounting Manual M-28.
Who can expect to incur a Real-Time Energy Credit or Charge?
Market Participants with a Real-Time Generation Obligation will receive credits for this service based upon the deviations in excess of their Day-Ahead cleared schedule. Market Participants with Real-Time Adjusted Load Obligations receive credits for consumption that is less than their Day-Ahead cleared schedule. The credits are calculated based on locational Adjusted Net Interchange Deviation and the associated Real-Time Locational Marginal Price.
Market Participants with Real-Time Adjusted Load Obligation in excess of their cleared Day-Ahead schedule will be charged for service. Market Participants with Real-Time Generation Obligation that is less than their cleared Day-Ahead schedule will be charged for service. The charges are calculated based on locational Adjusted Net Interchange Deviation and the associated Real-Time Locational Marginal Price.
Related Standard Settlements
Related Billing Adjustments
The hourly services bill display contains a single line item netting charges and credits entitled "Real-Time Energy".
Daily Financial Position Report
BL_DAILYPOSITION Daily financial position including all market service settlements and miscellaneous billing adjustments generated on a daily basis; and, issued to all active customers registered as a Participant or Non-Participant.
Real Time Transaction Activity Report
SD_RTTRANSACT Hourly detail of Participant's External Transactions and Internal Bilateral Transactions, issued upon settlement of Market Day.
Real Time Unit Entitlement Report
SD_RTUNITASM Hourly detail of Participant's share of metered generation by asset, issued upon settlement of Market Day.
Load Obligation Report
SD_RTLOAD Hourly detail of Participant's share of load meter reading by asset, issued upon settlement of Market Day.
Real Time Metering Domain Unmetered Load Report
SD_RTDOMAIN Hourly detail of all meter readings and domain unmetered load calculation per metering domain, issued upon settlement of Market Day. (This report is issued only to Participants responsible for metering domain reconciliation).
Real Time Energy Market Locational Summary Report
SR_RTLOCSUM Summary of Participant's hourly Real-Time Energy charges and credits by location, issued upon settlement of Market Day.
Real Time Energy Market Summary Report
SR_RTCUSTSUM Summary of Participant's hourly Real-Time Energy charges and credits, issued upon settlement of Market Day.
Real-Time Energy is reported on the SP_EQR report, available on a monthly basis one month after the given settlement, as referenced in the FERC EQR mapping line item Energy Real Time.