The Day-Ahead Energy Market clearing process produces a schedule of financially binding commitments for the purchase and sale of day-ahead energy in advance of the operating day on the basis of the bid and offer data that market participants submit to the day-ahead market. The clearing process schedules and dispatches resources using least-cost security-constrained unit-commitment and dispatch software, such that sufficient generation is scheduled in each hour to serve energy consumption, while meeting transmission security requirements. The participant's hourly day-ahead energy credits and charges are calculated by multiplying the net cleared amount of supply, consumption, or demand reduction at a location by the locational marginal price (LMP) for that location, and then summing all locational credits and or charges for the hour. The invoice amount is the net of all hourly credits and charges for the billing period.
Primary provisions for the settlement of the Day-Ahead 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.
The credits that market participants with a day-ahead generation obligation or positive demand-reduction obligation will receive for this service are based on the location-specific day-ahead adjusted net interchange and the associated day-ahead locational marginal price. Generation obligation is the sum of cleared generation, cleared incremental offers, and cleared imports at the location. The day-ahead adjusted net interchange is the net of the generation obligation, adjusted load obligation, and demand-reduction obligation at the location.
The charge to market participants with a day-ahead adjusted load obligation is based on the location-specific day-ahead adjusted net interchanges and the associated day-ahead locational marginal prices. The adjusted load obligation is the sum of cleared demand, cleared decremental bids, and cleared exports, as adjusted for internal bilateral purchases or sales. The adjusted net interchange is the net of the generation obligation, adjusted load obligation, and demand-reduction obligation at the location.
The hourly services bill contains a single line item netting charges and credits entitled "Day-Ahead Energy."
SD_DACLEARED Hourly detail of participant's cleared generation, cleared demand, cleared demand reduction, and cleared incremental offers and decremental bids, as applicable, issued upon settlement of the market day.
SD_DATRANSACT Hourly detail of participant's external transactions and internal bilateral transactions, issued upon settlement of the market day.
SR_DALOCSUM Summary of participant's hourly day-ahead energy charges and credits by location, issued upon settlement of the market day.
SR_DACUSTSUM Summary of participant's hourly day-ahead energy charges and credits, issued upon settlement of the market day.
Day-ahead energy is reported on the SP_EQR report, available monthly one month after the given settlement, as referenced in the FERC EQR mapping line item, “Energy Day Ahead.”
BL_DAILYPOSITION Daily financial position, including all market service settlements and miscellaneous billing adjustments generated on a daily basis; issued to all active customers registered as a participant or nonparticipant.