A pool-scheduled resource is a resource for which a participant submitted supply offers to sell electric energy and that the ISO scheduled for dispatch. The ISO can schedule these resources in the Day-Ahead Energy Market, as well as commit them to provide energy in the real-time dispatch.
Self-scheduling a resource is when a lead market participant commits, or schedules, a resource to provide energy in an hour, whether or not the ISO would have scheduled or dispatched the resource to provide the service.
In most cases, yes. The schedules for the following resources committed in the Day-Ahead Energy Market form the basis of the operating plan used to commit and dispatch the system in real time:
The ISO will not decommit these resources to accommodate self-schedules in real time. The ISO also will not automatically commit as part of the operating plan in real time the fast-start resources it committed in the Day-Ahead Energy Market. Therefore, these units do not have priority in real time for self-schedules.
Reference: ISO Manual M-11: Market Operations
The daily MIS report SR_RTLOCSUM5MIN details a participant’s five-minute Real-Time Energy Market activity. This report describes the calculation of the energy settlement credits or charges of the real-time LMP components at every location where a participant has activity. The net value of the credits and charges, summed for all locations, is reported for each five-minute interval in the daily MIS report, SR_RTCUSTSUM5MIN. These five-minute values are summed with the allocation of real-time marginal-loss revenue and the external inadvertent cost distribution to calculate the real-time net energy settlement for the interval in the SR_RTCUSTSUM5MIN report.
The daily MIS report SR_RTLOCSUM provides the hourly sums of the five-minute values described in SR_RTLOCSUM5MIN. The hourly LMP values are shown in the SR_RTLOCSUM report for information only, as the settlements are calculated at the subhourly interval using five-minute LMP values.
The daily MIS report SR_RTCUSTSUM provides the hourly sums of the five-minute values described in SR_RTCUSTSUM5MIN. The invoice line item “Real-Time Energy” is the sum of the real-time net energy settlement hourly values shown in SR_RTCUSTSUM for each day included on the invoice.
To learn more, see the Understanding the Bill: Real-Time Energy page.
The daily MIS report SR_RTLOCSUM5MIN details a participant’s five-minute Real-Time Energy Market activity. The report includes the demand-reduction-obligation deviation from the cleared day-ahead demand-reduction obligation for each five minute interval. A market participant will be credited or charged at the real-time locational marginal price (LMP) for its deviation from its demand-reduction obligation; this quantity is reported as the real-time demand-reduction credit.
The daily MIS report SR_RTLOCSUM provides hourly roll-up of the five-minute values described in SR_RTLOCSUM5MIN. The hourly LMP values are shown in the SR_RTLOCSUM report for information only because the settlements are calculated at the subhourly interval using five-minute LMP values. This report provides the hourly financial settlement value of a market participant’s demand-reduction-obligation deviations, shown as the real-time demand-reduction credit.
The daily MIS report SR_RTCUSTSUM provides a market participant’s hourly Real-Time Energy Market activity, including the real-time demand-reduction credit summed across all locations for the hour.
To learn more, see the Understanding the Bill: Real-Time Energy page.
The daily MIS report SR_RTLOCSUM5MIN details a participant’s five-minute Real-Time Energy Market activity. The report provides the determination of the five-minute real-time load obligation for the allocation of demand reduction, which is used to allocate the pool wide net demand-reduction-deviation settlement. A market participant with real-time load obligation will generally have a value for this cost-allocation variable.
The daily MIS report SR_RTLOCSUM provides hourly roll-up of the five-minute values described in SR_RTLOCSUM5MIN. The report includes the roll up of the five-minute real-time load obligation for the allocation of demand reduction. This allocator is used to calculate the market participant’s financial settlement of the pool wide demand-reduction cost, shown as the real-time demand-reduction charge.
The daily MIS report SR_RTCUSTSUM provides a market participant’s hourly Real-Time Energy Market activity, including the real-time demand-reduction charge summed across all locations.
To learn more, see the Understanding the Bill: Real-Time Energy page.
Every five minutes, the ISO energy settlement essentially calculates the charges for participants with load obligations and the credits for participants with generation obligations. The five-minute real-time marginal-loss revenue is the net collection of the energy and loss components of the LMP in both the Day-Ahead and Real-Time Energy Market settlements from all participants. Under the market design, the net of this process is expected to be a surplus collection, resulting from the derivation of the LMP loss component from the cost of the marginal loss on the system. The allocation of the real-time marginal-loss revenue to participants is pro rata based on the marginal-loss revenue load obligation (MLRLO) for the five-minute interval. The MLRLO is the participant’s real-time load obligation, excluding coordinated external transactions, adjusted for internal bilateral transactions for the energy designated for inclusion in determining the MLRLO.
Reference: ISO Manual M-28: Market Rule 1 Accounting
Every five minutes, the ISO determines the cost associated with inadvertent flow across the interfaces with external control areas (i.e., New York, New Brunswick, Hydro-Québec). The megawatt-hours of inadvertent flow can be in the import or export direction and equals the difference between the total of any scheduled contracts at the interface and the actual metered flow in the five-minute interval. To determine an interface’s inadvertent cost, the value for the megawatt-hours of inadvertent flow is multiplied by the interface’s nodal LMP for the interval. The costs for all the interfaces are summed to determine the total external inadvertent cost for the interval.
The allocation of the total external inadvertent cost to all participants is pro rata based on their total real-time load obligations (RTLO) and real-time generation obligations (RTGO), excluding coordinated external transactions, in the interval. The allocated credit or charge is applied to the pool marginal-loss revenue for the interval to account for the actual metered values of the external ties in the net of all participant load and generation obligations.
References:
The wholesale electricity markets in New England feature certain bilateral contract choices that market participants can submit to the ISO for settlement. An internal bilateral transaction (IBT) is a general term for the various available contract types. IBTs are submitted to the ISO’s Settlement Market System (SMS) through interfaces provided on the ISO’s SMD Applications Home Page. Both parties to the contract must confirm each IBT in advance of the submittal deadline. IBTs can be configured to be confirmed once or each time one of the parties performs a schedule update. The table below shows the available IBTs and submittal deadlines. Additional information on the submittal and confirmation process is available in the User Guide for Submitting Internal Bilateral Transactions using SMS and the Guide for the FCM CSO Bilateral Contracts User Interface.
|
Market |
Transaction Type |
Initial Deadline |
Resettlement Deadline |
|
Energy Market |
Day-ahead energy |
One business day after operating day |
N/A |
|
Energy Market |
Real-time energy |
Two business days after operating day |
101 days after end of operating month |
|
Energy Market |
Load obligation |
Two business days after operating day |
101 days after end of operating month |
|
Forward Reserve Market |
Forward-reserve obligation |
Two business days after operating day |
101 days after end of operating month |
|
Forward Capacity Market |
Capacity load obligation |
First business day of the month |
101 days after end of operating month |
|
Forward Capacity Market |
Capacity supply obligation |
Annual and monthly bilateral submittal windows(a) |
N/A |
|
Forward Capacity Market |
Capacity Performance |
As soon as preliminary Performance Score MIS report is distributed, no later than two business days after the operating month (12:00 noon). |
101 days after end of operating month |
(a) See Annual and Monthly FCM Events at the ISO’s “Forward Capacity Market” webpage.
References:
A generator may incur performance-based charges in the ISO markets. A generator is also subject to certain ISO tariff charges, as follows:
