locational-based marginal pricing "lbmp"

Transcription

NYISO
Energy Marketplace
Nicolé K. Grottoli
Senior Market Trainer
New York Independent System Operator
New Market Orientation Course (NYMOC)
March 24, 2015
Rensselaer, New York
© 2015 New York Independent System Operator, Inc. All Rights Reserved.
For Training Purposes Only
Understanding the Energy Marketplace
Forecasting?
Schedules?
Commitment
and
Dispatch?
Entering
Bids and
Offers?
DAM vs. RT
Market?
Two
Settlement
System?
2
Energy Marketplace Objectives
 Market Features and Function
 Identify five features of the NYISO Energy Market
 Understand the bidding and scheduling process
as it relates to the Two Settlement System
 Load Forecasting and Bidding
 Describe the LSE and NYISO load forecasting
process
 Identify the different load bidding options
3
Objectives – cont’d
 Supply Offers
 Describe the different offer parameters on a
generator offer
 Distinguish between the different generator
operating modes
 Commitment, Dispatch and Market Timeline
 Identify the inputs to the Day-Ahead and Real-Time
commitment and dispatch process.
 Identify the key points of the DAM and RT Market
timelines
4
Energy Market Features
1.
Administers purchase/sale of
electrical energy at the wholesale
level
2.
Evaluates competitive bids/offers
3.
Maintains reliability rules while
satisfying system constraints
5
Energy Market Features – cont’d
4.
Provides load and generator
schedules
5.
Produces prices for settlement
mechanism
6
Day Ahead vs. Real Time Market
Two Settlement System
 Day Ahead Market
 Real Time Market
 Buy and Sell Energy
 Buy and Sell the
the day prior to
actual consumption
or production
 DAM Settlement
based upon
Schedules
 Financially Binding
difference during the
consumption day
 Real Time Market
Balances DAM
Schedule to Actual
Usage
 Balancing Market
7
Two Settlement System – PS Example 1
Scenario 1 –
Sell 10 MW at
Real Time LBMP
Forward Contract
Sell 75 MW at
DAM LBMP
75 MW
Generation
Day Ahead Schedule
HB 15
Scenario 2 Buy 10 MW at
Real Time
LBMP
85 MW
Actual
Dispatch
OR
65 MW
Actual
Dispatch
Real Time Dispatch
HB 15For Training Purposes Only
88
Power Supplier Selling into Day Ahead Market (DAM)
Hour Beginning
(HB)
DAM MWh
DAM LBMP
$/MWh
DAM Settlement
$
HB 15
75 MWh
$10/MWh
?
Total DAM$
HB 15
?
© 2015
2013 New York Independent System Operator, Inc. All Rights Reserved.
9
Power Supplier Selling into Real Time Market (Balancing)
HB
HB 15
Scenario 1
HB 15
Scenario 2
HB 15
Scenario *3*
RT MWh
(RT – DAM)
RT LBMP
$/MWh
RT Settlement
$
75 MWh
85 MWh
( ? MWh)
$20/MWh
?
75 MWh
65 MWh
( ? MWh)
$20/MWh
?
0 MWh
( ? MWh)
$20/MWh
?
DAM MWh
© 2015
10
Total Power Supplier Settlement $s for HB 15
Scenario
DAM $
RT $
Total $
(DAM $ + RT $)
Scenario 1
$750
$200
?
Scenario 2
$750
- $200
?
Scenario 3
$0
$1500
?
© 2015
11
Two Settlement System – LSE Example 2
Scenario 1 –
Buy 5 MW at Real
Time LBMP
Forward
Contract Buy
45 MW at
DAM LBMP
45 MW
Load
Day Ahead Schedule
HB 07
Scenario 2 –
Sell 5 MW at Real
Time LBMP
50 MW
Usage
OR
40 MW
Usage
Real Time Usage
12
Load Serving Entity Buying from Day Ahead Market (DAM)
Hour Beginning
(HB)
DAM MWh
DAM LBMP
$/MWh
DAM Settlement
$
HB 07
- 45 MWh
$30/MWh
?
Total DAM$
HB 07
?
© 2015
13
Load Serving Entity Buying from Real Time Market (Balancing)
HB
HB 07
Scenario 1
HB 07
Scenario 2
HB 07
Scenario *3*
RT MWh
(RT – DAM)
RT LBMP
$/MWh
RT Settlement
$
- 45 MWh
- 50 MWh
( ? MWh)
$50/MWh
?
- 45 MWh
- 40 MWh
( ? MWh)
$50/MWh
?
0 MWh
( ? MWh)
$50/MWh
?
DAM MWh
© 2015
14
Total Load Serving Entity Settlement $s for HB 07
Scenario
DAM $
RT $
Total $
(DAM $ + RT $)
Scenario 1
- $1350
- $250
?
Scenario 2
- $1350
$250
?
Scenario 3
$0
- $2250
?
© 2015
15
Checkpoint
Two Settlement System – Exercise 1
Scenario 1 –
Sell 5 MW at Real
Time LBMP
Forward Contract
Sell 100 MW at
DAM LBMP
100 MW
Generation
Day Ahead Schedule
HB 20
Scenario 2 Buy 15 MW at
Real Time
LBMP
105 MW
Actual
Dispatch
OR
85 MW
Actual
Dispatch
Real Time Dispatch
16
Checkpoint
Two Settlement System – Exercise 1a
Power Supplier Selling into Day Ahead Market (DAM)
Hour Beginning
(HB)
DAM MWh
DAM LBMP
$/MWh
DAM Settlement
$
HB 20
100 MWh
$30/MWh
?
Total DAM$
HB 20
?
© 2015
17
Checkpoint
Two Settlement System – Exercise 1b
Power Supplier Selling into Real Time Market (Balancing)
HB
HB 20
Scenario 1
HB 20
Scenario 2
HB 20
Scenario *3*
RT MWh
(RT – DAM)
RT LBMP
$/MWh
RT Settlement
$
100 MWh
105 MWh
( ? MWh)
$40/MWh
?
100 MWh
85 MWh
( ? MWh)
$40/MWh
?
0 MWh
( ? MWh)
$40/MWh
?
DAM MWh
© 2015
18
Checkpoint
Two Settlement System – Exercise 1c
Total Power Supplier Settlement $s for HB 20
Scenario
DAM $
RT $
Total $
(DAM $ + RT $)
Scenario 1
$3000
$200
?
Scenario 2
$3000
- $600
?
Scenario 3
$0
$4000
?
© 2015
19
Load Forecasting and Bidding

Load Forecasting
• Monitoring LSE load forecast
Load Bidding
 Results

20
 LSE Load Forecast



Used for Initial Billing Purposes
Provided 7 Days in Advance
Can be Updated
•
After DAM closes up until 12:00 Noon the
day after operating day
21
 Monitoring LSE Load Forecasting

NYISO Credit Department
• Monitors LSE Load Forecasting 3x/Month
• Benchmarks
• Forecast vs. Actual Historical Load
• Forecast vs. Monthly UCAP Requirements
22

The NYISO Credit Department will monitor all
Market Participants who, on average over the
prior 6 months for the daily forecast, forecasted
90% or less of NYISO projected actual load

1st Review is of Days 1-10
• Performed on or about 12th of month
• Observed under forecasting
• Analysis performed to determine if current daily forecasts are
90% or less of NYISO projected actual load
• NYISO Credit Department may contact LSE
• Objectives:
• Improve LSE load forecasting accuracy
• Reconcile variations
23

2nd Review is of Days 1-20
• Performed on or about 22nd of month
• Analysis performed to determine if current daily forecasts
are 90% or less of NYISO Projected Actual Load
• NYISO Credit Department may contact LSE
• Objectives:
• Improve LSE load forecasting accuracy
• Reconcile variations
24

3rd Review is of Entire Month
• Performed on or about 2nd of following
month
• Analysis performed to determine if current daily forecasts
are 73% or less of NYISO Projected Actual Load
• LSE may be subject to load forecast
replacement
25
 NYISO Load Forecasting

NYISO Forecast used for Scheduling/Reliability
• Historical Data
• Weather
• TO Forecast Submittals
• Zonal basis, then summed

Posted by 8 a.m. Each Day
• 6 Days Provided
26
 Load Bids

Load Serving Entities (LSE) bid to procure
energy from NYISO
• Fixed Bids
• Price Capped Load Bids
• Real Time Energy Purchase
27
 Load Bids

Bids Submitted to Market Information
System (MIS)
• Interface between NYISO and Market
Participants
• Bid, Update, and View
28
 Load Bidding

Fixed Bids
• Load purchases forecasted MWs in DAM
• Regardless of price
29
 Load Bidding
 Price Capped Load Bids
• $/MW Price Load is willing to pay
• 3 Potential Increments
• Increments are Increasing
• Load Forecasts 100 MW
• Bids= 50MW @$25/MW, 30MW @$45/MW, & 20MW
@$60/MW

Combination of Fixed and Price Capped
• Cannot exceed forecast MW

Real Time Energy Purchase
• Done automatically by NYISO
30
Price Cap Load
Fixed Bid
Forecast
31
 Load Bid Results

Bid Status
• Validation Passed
• Data acceptable---no changes necessary
• Validation Failed
• Data will require changes
• Evaluating
• After DAM closes
• Prior to posting
32

Bid Status
• Accepted
• DAM schedule posted
• Rejected
• Settled in Real Time
33

Results Posted
• MW
• LBMP
34
Checkpoint
Refer to your handout to
complete the exercise
 Load Bid - Exercise 2

Using the descriptions provided, complete the bid screen
by entering the correct values in the correct fields.

LSE_123 estimates they will need to
consume:
• 120 MWs in HB 0
• 110 MWs in HB 1
• 100 MWs in HB 2
35
Checkpoint
Refer to your handout to
complete the exercise
 Load Bid - Exercise 2

LSE _123 wants to purchase:
• 120 MWs in HB 0 regardless of Price
• 110 MWs in HB 1 if it meets their economic
requirements
• 60 MWs @ $20/MWh
• 40 MWs @ $30/MWh
• 10 MWs @ $40/MWh
• 100 MWs in HB 2
• 70 MWs regardless of Price
• 30 MWs if it meets their economic requirements
 20 MWs @ $25/MWh
 10 MWs @ $35/MWh
36
Checkpoint
LBMP 1/26/10
HB 0 = $40
HB 1 = $50
HB 2 = $30
 Load Bid – Exercise 2

Using the descriptions provided, complete the bid
screen below by entering the correct values in the
correct fields.
Key:
01/26/2010
LSE_123
120
110
20
30
100
25
35
40
37
Supply Offers

Supply Offer Process
• Unit offer Parameters
• Incremental Energy Offers
• Unit Operating Modes

Results
38
Supply Offers

Suppliers submit offers to sell energy to
the NYISO
• Day Ahead Market Offers
• Real Time Market Offers

Offers Submitted to Market Information
System (MIS)
• Interface between NYISO and Market Participants
• Offer, Update, and View
39
Supply Offers
 Offer Parameters
 Minimum Run Time
 Maximum Stops/Day
• Minimum hours unit
must run once started
by NYISO

Minimum Down Time
• Minimum hours unit
must be down once decommitted by NYISO
• Number of times unit
can be de-committed
in dispatch day

Response Rate
•
•
•
•
MW per minute
Normal
Emergency
Regulation
40
Supply Offers
 Market
 Start Up
• DAM
• RT

Duration
• Time
• Cost

• Hours Unit wants to
run

Expiration Date of Offer
• DAM Only
• Gen no longer
available for Day
Ahead Supplement
Minimum Generation
• Lower Operating Limit
• $/MWh Cost

Upper Operating Limit
• Normal (UOLN)
• Emergency (UOLE)
41
Supply Offers

Incremental Energy Offers
• $/MWh Offers
• 11 Incremental Offer Blocks
• Ranges from Min Gen to Upper Operating
Limit
• Variable Cost Recovery
42
Supply Offers
 Unit Operating Modes

ISO Committed - Economically Selected
• Fixed or Flexible

Self Committed - Price Taker
• Fixed or Flexible

Fixed
• Fixed Operating Levels
• No Change from in Hour Schedule

Flexible
• Flexible Output
• Follow Base Points
43
Supply Offers
 Supply Offers – Unit Operating Mode

Bid Page Options
ISO Committed Flexible
Self Committed Fixed
Self Committed Flexible
ISO Committed Fixed
44
Checkpoint
- Exercise 3
Using the descriptions below, match the
values with the correct operating parameter
fields to the left:
•
•
•
•
The number of times the unit can be decommitted in a dispatch day is 1.
The time to meet minimum generation after
NYISO notification is 6 hours.
The minimum hours in a dispatch day the unit
must run once started is 4 hours.
The minimum hours in a dispatch day the unit
must be down or off-line is 0 hours.
45
Supply Offers
UOLN
UOLE
Min Gen
MW
Expiration
(DAM Only)
Start Up Cost
Min Gen
$/Hr
46
Checkpoint
Unit Operating Mode - Exercise 4
Select the unit if LBMP is greater
than or equal to offer and run the
unit at MW specified ….
Run unit at MW specified and NYISO
pays whatever the LBMP is …..
Provide base points and NYISO
pays whatever the LBMP is …..
Provide base points and run only if
LBMP is greater than or equal to the
offer …..
47
Supply Offers
 Supply Offer Results

Offer Status
• Validation Passed
• Data acceptable---no changes necessary
• Validation Failed
• Data will require changes
• Evaluating
• After DAM (or RT) closes
• Prior to posting
48
Supply Offers

Offer Status
• Accepted
• Unit is committed
• DAM schedule posted
• Rejected
• Unit is not committed
49
Supply Offers

Results Posted
• Market
• MW
• LBMP
50
Supply Offers
40
15
0
6
0
40
15
0
6
0
30
15
0
6
0
30
15
0
6
0
51
Supply Offers
 Out of Economic Merit – OOM



Generator asked to produce different
level of output from schedule
Necessary to Maintain System Reliability
Requested by:
• NYISO
• TO
52
Supply Offers
 OOM - Supplemental Payments

Bid Production Cost Guarantee – BPCG
• NYISO guarantees generator will not incur net loss if
generator is committed in DAM or above DAM schedule
• Meets eligibility criteria
• Sum of all hourly values for given day results in net loss

BPCG References
• MST Attachment C
• OATT Schedule 1 Section 4B
• MPUG 7.3.1
53
Supply Offers
 OOM - Supplemental Payments

Day Ahead Margin Assurance Payment –
DAMAP
• Payment for generators required to buy back
Energy or Ancillaries in RT, due to
dispatching below DAM schedule
• Meets eligibility criteria

DAMAP References
• MST Attachment J
• Accounting & Billing Manual
54
Checkpoint
 Accepted DAM Schedules are Financially Binding
a)
b)
True
False
 The RT Market Balances DAM Schedules to Actual
Production
a)
b)
True
False
 LSEs Bid into the DAM and RT Market to Purchase
Energy
a)
b)
True
False
55
Market Process
 Objectives

Commitment and Dispatch
• Minimize the as-bid production cost
• Satisfy system constraints and reliability rules

Time Line
• Bidding available up to 15 days prior to
Operating Day
• DAM closes 5 a.m.
• DAM Schedules and LBMP Posted by 11 a.m.
• RT closes 75 minutes prior to Operating Hour
56
Market Process - DAM
 Commitment and Dispatch

DAM uses Security Constrained Unit
Commitment (SCUC)
• DAM Schedules
• Each Hour of the Day
• DAM LBMP
Inputs
NYISO Forecast
Load Bids
Supply Offers
Transactions
Ancillary Services
Virtual
Demand Response
Constraints
MIS
SCUC
MIS
Schedules & LBMPs
57
Market Process

RT Market uses
• Real Time Commitment (RTC)
• Committing Generators for Dispatching
• Advisory RT Base Points
• Advisory RT LBMPs
58
Market Process

RT Market also uses
• Supplemental Resource Evaluation (SRE)
• Additional Resource Committal
• Process used to commit additional resources outside
of SCUC and RTC
 Used to preserve system reliability and ensure sufficient
resources to meet forecasted load and reserve
requirements
59
Market Process

RT Market also uses
• Real Time Dispatch (RTD)
•
•
•
•
Dispatches Units in RT
5 Minute Base Points
Real Time LBMP
Corrective Action Mode (RTD-CAM)
60
Market Process
 RT Commitment and Dispatch
RTD
RTC
Advisory
61
Market Process – Real Time
Inputs
MIS
RTC
MIS
RTD
Accepted DAM Bids
New:
Supply Offers
Transactions
Regulation Bids
Constraints
Schedules & LBMPs
SRE
RTD - CAM
62
Market Process – DAM Time Line
One Day before Dispatch Day
Day Ahead Market
Closes
DAM Schedules & LBMPs
Posted
Oct. 2nd
Oct. 1st
5 a.m.
8 a.m.
Midnight
11 a.m.
Midnight
Noon
NYISO Load Forecast
Posted
63
Market Process – RT Time Line
Operating Day – Oct. 2nd HB 10
8:45
9:15
10:00
12
12
12
9
3
6
RT Bidding Closes
(75 minutes prior to operating hour)
9
3
9
3
6
6
RTC Results Posted
(45 minutes prior to operating hour)
RTD - Operating Hour
(5 minutes intervals)
64
Checkpoint

SCUC is used in the DAM Process
a)
b)

RTC Dispatches units to run in the RT Market
a)
b)

True
False
The DAM closes at 5:00 a.m.
a)
b)

True
False
True
False
RT Bidding closes 75 minutes prior to the Operating
Hour
a)
b)
True
False
65
Marketplace Summary
 Market Features and Function
 Identify five features of the NYISO Energy Market
 Understand the bidding and scheduling process as
it relates to the Two Settlement System
 Load Forecasting and Bidding
 Describe the LSE and NYISO load forecasting
process
 Identify the different load bidding options
66
Marketplace Summary
 Supply Offers
 Describe the different offer parameters on a
generator offer
 Distinguish between the different generator
operating modes
 Commitment, Dispatch and Market Timelines
 Identify the inputs to the Day-Ahead and RealTime commitment and dispatch process.
 Identify the key points of the DAM and RT Market
timelines
67
68

locational-based marginal pricing "lbmp"

Transcription

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