Executive Summary of Future
Market Settlement Charge Types
Future Market Settlement Charge Types
• Future Market Settlements are classified by 51 individual
Charge Types, which can be categorized into 3 groups,
though there is some crossover of input Bill Determinants
between categories
• 15 Day-Ahead Market
• 7 Energy & Operating Reserves
• 1 Make Whole Payment
• 7 Cost Allocation & Fees
• 11 Transmission Congestion Rights
• 2 Daily Transmission Congestion Rights Funding
• 3 Transmission Congestion Rights Monthly & Yearly True-Up
• 3 Daily TCR / ARR auction settlement
• 3 TCR Auction Revenue Monthly & Yearly True-Up
• 25 Real-Time Balancing Market
• 7 Energy & Operating Reserves
• 5 Penalty & Make Whole Payment
• 10 Cost Allocation & Penalty Distribution
• 3 Miscellaneous
SPP.org
3
Day-Ahead Market Charge Types
• Energy & Operating Reserves
•
•
•
•
•
•
•
DaEnergyHrlyAmt
DaNEnergyHrlyAmt
DaVEnergyHrlyAmt
DaRegUpHrlyAmt
DaRegDnHrlyAmt
DaSpinHrlyAmt
DaSuppHrlyAmt
Day-Ahead
Day-Ahead
Day-Ahead
Day-Ahead
Day-Ahead
Day-Ahead
Day-Ahead
Asset Energy
Non-Asset Energy
Virtual Energy
Regulation-Up
Regulation-Down
Spinning Reserve
Supplemental Reserve
• Operating Reserve Cost Allocation
•
•
•
•
DaRegUpDistHrlyAmt
DaRegDnDistHrlyAmt
DaSpinDistHrlyAmt
DaSuppDistHrlyAmt
Day-Ahead
Day-Ahead
Day-Ahead
Day-Ahead
Regulation-Up Distribution
Regulation-Down Distribution
Spinning Reserve Distribution
Supplemental Reserve Distribution
• Make Whole Payment
•
•
DaMwpCpAmt
DaMwpDistHrlyAmt
Day-Ahead Make-Whole-Payment
Day-Ahead Make-Whole-Payment Distribution
• Over-Collected Losses and Virtual Transaction Fee
•
•
DaOclDistHrlyAmt
DaVTxnFeeAoAmt
Day-Ahead Over-Collected Losses Distribution
Day-Ahead Virtual Energy Transaction Fee
SPP.org
4
Day-Ahead Asset Energy
DaEnergyHrlyAmt a, s, h =
DaLmpHrlyPrc s, h * ( DaClrdHrlyQty a, s, h - S t DaEnFinHrlyQty a, s, h, t )
• Settlement of the net DA Market energy position at an Asset Owner’s Resources
and loads
•
Calculated hourly at each Resource or load Settlement Location
• Input Bill Determinants
•
•
•
DaLmpHrlyPrc s, h – hourly DA Market Locational Marginal Price at Settlement Location s
DaClrdHrlyQty a, s, h – hourly DA Market Cleared Quantity at Settlement Location s for Asset Owner a
DaEnFinHrlyQty a, s, h, t – hourly DA Market bilateral transaction t at Settlement Location s for Asset Owner a
represented by Financial Schedules which resolve to Resource or load assets
SPP.org
5
Day-Ahead Non-Asset Energy
DaNEnergyHrlyAmt a, s, h =
DaLmpHrlyPrc s, h
* ( (S i S t DaImpExp5minQty a, s, i, t / 12) - S t DaNEnFinHrlyQty a, s, h, t )
• Settlement of the net DA Market energy position at locations other than an Asset
Owner’s Resources and load (i.e. interfaces)
•
Calculated hourly at each Settlement Location where an Asset Owner has Determinants
• Input Bill Determinants
•
•
•
DaLmpHrlyPrc s, h – hourly DA Market Locational Marginal Price at Settlement Location s
DaImpExp5minQty a, s, i, t – 5-minute DA Market Cleared Import / Export transaction t Quantity at Settlement
Location s for Asset Owner a
DaNEnFinHrlyQty a, s, h, t – hourly DA Market bilateral transaction t at Settlement Location s for Asset Owner
a represented by Financial Schedules which do not resolve to Resource or load assets
SPP.org
6
Day-Ahead Virtual Energy
DaVEnergyHrlyAmt a, s, h = DaLmpHrlyPrc s, h * S t DaClrdVHrlyQty a, s, h, t
• Settlement of the net DA Market energy position of an Asset Owner’s Cleared
Virtual Bids and Offers
•
Calculated hourly at each Settlement Location where an Asset Owner Clears a Virtual Bid or Offer
• Input Bill Determinants
•
•
DaLmpHrlyPrc s, h – hourly DA Market Locational Marginal Price at Settlement Location s
DaClrdVHrlyQty a, s, h, t – hourly DA Market Cleared Virtual Bid / Offer transaction t Quantity at Settlement
Location s for Asset Owner a
SPP.org
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Day-Ahead Regulation-Up
DaRegUpHrlyAmt a, s, h =
(DaRegUpMcpHrlyPrc z, s, h * DaRegUpHrlyQty a, s, h ) * (-1)
• Settlement of DA Market Cleared Regulation-Up at an Asset Owner’s Resources
•
Calculated hourly at each Resource Settlement Location Clearing Regulation-Up
• Input Bill Determinants
•
•
DaRegUpMcpHrlyPrc z, s, h – hourly DA Market Clearing Price for Regulation-Up in Reserve Zone z at
Settlement Location s
DaRegUpHrlyQty a, s, h – hourly DA Market Cleared Regulation-Up capacity at Settlement Location s for
Asset Owner a
SPP.org
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Day-Ahead Regulation-Down
DaRegDnHrlyAmt a, s, h =
(DaRegDnMcpHrlyPrc z, s, h * DaRegDnHrlyQty a, s, h ) * (-1)
• Settlement of DA Market Cleared Regulation-Down at an Asset Owner’s Resources
•
Calculated hourly at each Resource Settlement Location Clearing Regulation-Down
• Input Bill Determinants
•
•
DaRegDnMcpHrlyPrc z, s, h – hourly DA Market Clearing Price for Regulation-Down in Reserve Zone z at
Settlement Location s
DaRegDnHrlyQty a, s, h – hourly DA Market Cleared Regulation-Down capacity at Settlement Location s for
Asset Owner a
SPP.org
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Day-Ahead Spinning Reserve
DaSpinHrlyAmt a, s, h =
(DaSpinMcpHrlyPrc z, s, h * DaSpinHrlyQty a, s, h ) * (-1)
• Settlement of DA Market Cleared Spinning Reserve at an Asset Owner’s Resources
•
Calculated hourly at each Resource Settlement Location Clearing Spinning Reserve
• Input Bill Determinants
•
•
DaSpinMcpHrlyPrc z, s, h – hourly DA Market Clearing Price for Spinning Reserve in Reserve Zone z at
Settlement Location s
DaSpinHrlyQty a, s, h – hourly DA Market Cleared Spinning Reserve capacity at Settlement Location s for
Asset Owner a
SPP.org
10
Day-Ahead Supplemental Reserve
DaSuppHrlyAmt a, s, h =
(DaSuppMcpHrlyPrc z, s, h * DaSuppHrlyQty a, s, h ) * (-1)
• Settlement of DA Market Cleared Supplemental Reserve at an Asset Owner’s
Resources
•
Calculated hourly at each Resource Settlement Location Clearing Supplemental Reserve
• Input Bill Determinants
•
•
DaSuppMcpHrlyPrc z, s, h – hourly DA Market Clearing Price for Supplemental Reserve in Reserve Zone z at
Settlement Location s
DaSuppHrlyQty a, s, h – hourly DA Market Cleared Supplemental Reserve capacity at Settlement Location s
for Asset Owner a
SPP.org
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Day-Ahead Regulation-Up Distribution
DaRegUpDistHrlyAmt a, z, h =
DaRegUpDistHrlyRate z, h * DaRegUpAoObligHrlyQty a, z, h
• Cost Allocation of DA Market Cleared Regulation-Up to an Asset Owner’s zonal
Obligation
•
Calculated hourly for each Reserve Zone into which an Asset Owner’s load or Exports fall
• Input Bill Determinants
•
•
DaRegUpDistHrlyRate z, h – hourly DA Market Cost Allocation Rate for Regulation-Up in Reserve Zone z
• Rate is determined as a weighted average of the Obligation served at the local MCP and that served
from other zones at the exchange rate
DaRegUpAoObligHrlyQty a, z, h – hourly DA Market Regulation-Up Obligation for Asset Owner a in Reserve
Zone z
• Asset Owner Obligation is zonal load and Exports scaled by the ratio of total zonal load to zonal
Obligation
• Total zonal Obligation is simply a zonal LRS of the footprint total
• Obligation can be shifted with bilateral Financial Schedules or Contacts For Supply
SPP.org
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Day-Ahead Regulation-Down Distribution
DaRegDnDistHrlyAmt a, z, h =
DaRegDnDistHrlyRate z, h * DaRegDnAoObligHrlyQty a, z, h
• Cost Allocation of DA Market Cleared Regulation-Down to an Asset Owner’s zonal
Obligation
•
Calculated hourly for each Reserve Zone into which an Asset Owner’s load or Exports fall
• Input Bill Determinants
•
•
DaRegDnDistHrlyRate z, h – hourly DA Market Cost Allocation Rate for Regulation-Down in Reserve Zone z
• Rate is determined as a weighted average of the Obligation served at the local MCP and that served
from other zones at the exchange rate
DaRegDnAoObligHrlyQty a, z, h – hourly DA Market Regulation-Down Obligation for Asset Owner a in
Reserve Zone z
• Asset Owner Obligation is zonal load and Exports scaled by the ratio of total zonal load to zonal
Obligation
• Total zonal Obligation is simply a zonal LRS of the footprint total
• Obligation can be shifted with bilateral Financial Schedules or Contacts For Supply
SPP.org
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Day-Ahead Spinning Reserve Distribution
DaSpinDistHrlyAmt a, z, h =
DaSpinDistHrlyRate z, h * DaSpinAoObligHrlyQty a, z, h
• Cost Allocation of DA Market Cleared Spinning Reserve to an Asset Owner’s zonal
Obligation
•
Calculated hourly for each Reserve Zone into which an Asset Owner’s load or Exports fall
• Input Bill Determinants
•
•
DaSpinDistHrlyRate z, h – hourly DA Market Cost Allocation Rate for Spinning Reserve in Reserve Zone z
• Rate is determined as a weighted average of the Obligation served at the local MCP and that served
from other zones at the exchange rate
DaSpinAoObligHrlyQty a, z, h – hourly DA Market Spinning Reserve Obligation for Asset Owner a in Reserve
Zone z
• Asset Owner Obligation is zonal load and Exports scaled by the ratio of total zonal load to zonal
Obligation
• Total zonal Obligation is simply a zonal LRS of the footprint total
• Obligation can be shifted with bilateral Financial Schedules or Contacts For Supply
SPP.org
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Day-Ahead Supplemental Reserve Distribution
DaSuppDistHrlyAmt a, z, h =
DaSuppDistHrlyRate z, h * DaSuppAoObligHrlyQty a, z, h
• Cost Allocation of DA Market Cleared Supplemental Reserve to an Asset Owner’s
zonal Obligation
•
Calculated hourly for each Reserve Zone into which an Asset Owner’s load or Exports fall
• Input Bill Determinants
•
•
DaSuppDistHrlyRate z, h – hourly DA Market Cost Allocation Rate for Supplemental Reserve in Reserve
Zone z
• Rate is determined as a weighted average of the Obligation served at the local MCP and that served
from other zones at the exchange rate
DaSuppAoObligHrlyQty a, z, h – hourly DA Market Supplemental Reserve Obligation for Asset Owner a in
Reserve Zone z
• Asset Owner Obligation is zonal load and Exports scaled by the ratio of total zonal load to zonal
Obligation
• Total zonal Obligation is simply a zonal LRS of the footprint total
• Obligation can be shifted with bilateral Financial Schedules or Contacts For Supply
SPP.org
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Day-Ahead Make-Whole-Payment
DaMwpCpAmt a, s, c =
Max (0, S h ( DaMwpCostHrlyAmt a, h, s, c + DaMwpRevHrlyAmt a, h, s, c ) ) * (-1)
• Revenue Guarantee to Resources Committed economically in the DA Market
•
Calculated for the contiguous “Market” status hours of a Commitment Period within a single Operating Day
for Resources committed by SPP in the DA Market
• Input Bill Determinants
•
•
DaMwpCostHrlyAmt a, h, s, c – hourly production cost for Asset Owner a’s Resource at Settlement Location s
based on the Offer parameters effective at the time of the DA Market Commitment c
• Start-Up (subject to eligibility), No-Load & Incremental Energy (area under the Offer curve)
• Availability Cost for each of the Operating Reserve products Cleared
• Transition Cost (for Combined Cycle Resources moving to higher configurations during the
Commitment Period)
• RUC Start-Up Remainder (for DA Commitment Periods adjacent to a RUC Commitment Period in which
the Start-Up was not fully recovered)
DaMwpRevHrlyAmt a, h, s, c – hourly revenue for Asset Owner a’s Resource at Settlement Location s during DA
Market Commitment c
• DA Market Energy (absent Financial Schedules) & the value of each of the Operating Reserve products
Cleared in the DA Market
SPP.org
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Day-Ahead Make-Whole-Payment Distribution
DaMwpDistHrlyAmt a, s, h =
DaMwpSppDistRate d * DaMwpDistHrlyQty a, s, h
• Cost Allocation of Make Whole Payment for Resources Committed in the DA Market to
an Asset Owner’s DA Market Cleared load & Exports
•
Calculated hourly for each Settlement Location where an Asset Owner has DA Market load or Exports
• Input Bill Determinants
•
•
DaMwpSppDistRate d – daily rate achieved by dividing the total of all DA Market Make Whole Payments for the
Operating Day by the sum of all hourly Cost Allocation Determinants over the Operating day
DaMwpDistHrlyQty a, s, h – hourly Cost Allocation Determinants at each Settlement Location s where Asset
Owner a has DA Market Cleared load or Exports
SPP.org
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Day-Ahead Over-Collected Losses Distribution
DaOclDistHrlyAmt a, s, lp, h =
DaNormLossRbtHrlyFct a, s, lp, h * DaOclHrlyAmt h * (-1)
• Rebate of surplus collected as a result of the marginal pricing of losses
•
•
Calculated hourly for each Settlement Location where an Asset Owner has a DA Market withdrawal position
due to the net of all Resource or load activity, Financial Schedules and Interchange Transactions – excludes
Virtual Bids and Offers
Approach groups Settlement Locations into Loss Pools, which are dynamically defined as all of each AO’s
transactional activity regardless of the SL. Transactions by multiple AO’s at a common SL will be included in
separate Loss Pools
• Input Bill Determinants
•
•
DaNormLossRbtHrlyFct a, s, lp, h – hourly factor for Asset Owner a’s net withdrawal at Settlement Location s in
Loss Pool lp valued by the difference between the local MLC and that of the “source” of the service
• Positive loss factors (payment for losses) are normalized
• “source” of the service is determined by assuming that generation in a Loss Pool first serves
withdrawal in the Loss Pool, then is used to satisfy withdrawal outside the Loss Pool to the extent
available
DaOclHrlyAmt h – hourly over collection for the footprint
• Achieved by summing the product of the (MEC and MLC) with (DA Market injection & withdrawal) over
all Settlement Locations
SPP.org
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Day-Ahead Virtual Energy Transaction Fee
DaVTxnFeeAoAmt a, m, d = DaVTxnDlyCnt a, d * DaVTxnFeeDlyRt d
• Fee for Virtual Bids and Offers
•
•
The total count of all Virtual Bids and Offers an AO makes, regardless of whether they Clear or not, is charged
a flat rate fee as an incentive to be sensible about how much Virtual activity an MP undertakes.
Structuring Virtual Bids and Offers as curves rather than a stack of price points is thought to largely manage
the data SPP must process to solve the DA Market. This charge type would encourage MP’s to be selective
about the Settlement Locations at which they choose to make Virtual Bids and Offers.
• Input Bill Determinants
•
•
DaVTxnDlyCnt a, d – total count of Virtual Bids and Offers placed for Asset Owner a
DaVTxnFeeDlyRt d – tariff filed rate, open to change with up to daily frequency
SPP.org
19
Transmission Congestion Rights Charge Types
• Daily Settlement of TCRs
•
•
TcrFundHrlyAmt
TcrUpliftDlyAmt
Transmission Congestion Rights Funding
Transmission Congestion Rights Daily Uplift
• Monthly & Yearly True-Up of TCRs
•
•
•
TcrPaybackMnthlyAmt
TcrPaybackYrlyAmt
TcrCloseoutYrlyAmt
Transmission Congestion Rights Monthly Payback
Transmission Congestion Rights Annual Payback
Transmission Congestion Rights Annual Closeout
• Daily TCR Auction Settlement
•
•
•
TcrAucTxnDlyAmt
ArrAucTxnDlyAmt
ArrUpliftDlyAmt
Transmission Congestion Rights Auction Transaction
TCR Auction Revenue Rights Funding
TCR Auction Revenue Rights Uplift
• Monthly & Yearly True-Up of ARRs
•
•
•
ArrPaybackMnthlyAmt
ArrPaybackYrlyAmt
ArrCloseoutYrlyAmt
Auction Revenue Rights Monthly Payback
Auction Revenue Rights Annual Payback
Auction Revenue Rights Annual Closeout
SPP.org
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Transmission Congestion Rights Funding
TcrFundHrlyAmt a, h =
S t (TcrHrlyQty a, h, t * (DaMccHrlyPrc source, h - DaMccHrlyPrc sink, h ) )
• Hedge against congestion incurred by load Bid into the DA Market
•
Traditionally the MCC at the sink of a TCR would be higher than at the source, which results in credits to TCR
holders, but it is possible that the reverse is true in some hours and at least some TCRs held by an AO would
create a charge. The settlement result is a sum of the value of all TCRs. TCRs are fully funded.
• Input Bill Determinants
•
•
•
TcrHrlyQty a, h, t – hourly quantity for TCR t owned by Asset Owner a
DaMccHrlyPrc source, h – hourly DA Market congestion component on LMP at the source of TCR t
DaMccHrlyPrc sink, h – hourly DA Market congestion component on LMP at the sink of TCR t
SPP.org
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Transmission Congestion Rights Daily Uplift
TcrUpliftDlyAmt a, d =
ShortFallDlyAmt d * [ TcrUpliftRatioAoDlyAmt a, d / TcrUpliftRatioSppDlyAmt d]
• Allocation of the deficit between congestion collections and TCR funding
•
When fully funded TCRs result in a greater amount of credits paid than funds collected through the DA
Market MCC, the difference is uplifted to TCR holders pro rata by the absolute value of TCRs. Excess is
carried forward to use in month and year end processes.
• Input Bill Determinants
•
•
•
ShortfallDlyAmt d – daily total of the deficit between TCR value and DA Market congestion collections
TcrUpliftRatioAoDlyAmt a, d – daily absolute value of TCRs owned by Asset Owner a
TcrUpliftRatioSppDlyAmt a, d – daily total absolute value of TCRs owned by all Asset Owners
SPP.org
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Transmission Congestion Rights Monthly Payback
TcrPaybackMnthlyAmt a, mn = (-1) *
Min {
TcrUpliftAoMnthlyAmt a, mn ,
ECFMnthlyAmt mn* [ TcrUpliftAoMnthlyAmt a, mn /
TcrUpliftSppMnthlyAmt a, mn ]
}
• Use of Excess Congestion in a month to payback uplift in that month
•
On the last day of the month, to the extent funds were carried forward and uplift was paid during that month,
the total is used to pay back the uplift. The payback is limited to the total uplift paid in the month. Funds
remaining carry forward to the end of the year.
• Input Bill Determinants
•
•
•
TcrUpliftAoMnthlyAmt a, mn – monthly uplift paid by Asset Owner a
ECFMnthlyAmt mn – total excess congestion available at the end of the month
TcrUpliftSppMnthlyAmt mn – total monthly uplift paid by all Asset Owners
SPP.org
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Transmission Congestion Rights Annual Payback
TcrPaybackYrlyAmt a, yr = (-1) *
Min {
TcrNetUpliftAoYrlyAmt a, yr ,
ECFYrlyAmt yr * [ TcrNetUpliftAoYrlyAmt a, yr /
TcrNetUpliftSppYrlyAmt yr ]
}
• Use of Excess Congestion in a year to payback remaining uplift in that year
•
On the last day of the year to the extent funds were carried forward and uplift was paid during that year and
not paid back in the monthly process the remaining total is used to payback the uplift. The payback is limited
to the total uplift paid in the year less monthly payback already made. Funds remaining are allocated to ARR
holders – the fund is closed out.
• Input Bill Determinants
•
•
•
TcrNetUpliftAoYrlyAmt a, yr – yearly uplift, less monthly payback, paid by Asset Owner a
ECFYrlyAmt yr – total excess congestion available at the end of the year
TcrNetUpliftSppYrlyAmt yr – total yearly uplift, less monthly payback, paid by all Asset Owners
SPP.org
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Transmission Congestion Rights Annual Closeout
TcrCloseoutYrlyAmt a, yr =
(-1) * [ ECFYrlyAmt yr + TcrPaybackSppYrlyAmt yr ] *
[ ArrNominationCapAoYrlyQty a, yr / ArrNominationCapSppYrlyQty yr ]
• Allocation of the Excess Congestion remaining after Monthly and Yearly Payback
processes have eliminated all payback for the year
•
On the last day of the year, to the extent funds in excess of payback during the year exist, the remaining total
is allocated to ARR holders – the fund is closed out. The remaining amount is distributed among ARR holders
pro rata by sum of the Nomination Cap in effect on each day in the year.
• Input Bill Determinants
•
•
•
•
TcrPaybackSppYrlyAmt yr – total yearly payback paid to all Asset Owners
ECFYrlyAmt yr – total excess congestion available at the end of the year
ArrNominationCapAoYrlyQty a, yr – sum of daily Nomination Cap of Asset Owner a
ArrNominationCapSppYrlyQty yr – total sum of daily Nomination Cap of all Asset Owners
SPP.org
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Transmission Congestion Rights Auction Transaction
TcrAucTxnDlyAmt a, aid, d =
St { ( TcrAucQty a,
* TcrAucPrc aid, source, sink )
* TcrAucBuySellFlg a, t / NumDaysInPeriod aid }
t, aid, source, sink
• Settlement of the purchase or sale of a TCR instrument at auction
•
•
On each day during the life of the instrument the transacting party is settled a fraction of the total auction
value of the instrument based on the difference in price between the source and sink of the instrument from
the auction to which it corresponds
Separate results are maintained for each auction
• Input Bill Determinants
•
•
•
•
TcrAucQty a, t, aid, source, sink – quantity of TCR purchased or sold by Asset Owner a in TCR Auction aid
TcrAucPrc aid, source, sink – difference in price between source and sink in TCR Auction aid
TcrAucBuySellFlg a, t – 1 for a buyer / -1 for a seller of TCR t by Asset Owner a
NumDaysInPeriod aid – number of days in the month or season TCR Auction aid
SPP.org
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Auction Revenue Rights Funding
ArrAucTxnDlyAmt a, aid, d =
Ssource-sink {((ArrQty a, aid, source, sink * TcrAucPrc aid, source, sink )
/ NumDaysInPeriod aid ) * (-1)}
• Settlement of an ARR instrument by the TCR auction price
•
•
On each day during the life of the instrument the holder is settled a fraction of the total auction value of the
instrument based on the difference in price between the source and sink of the instrument from the auction to
which it corresponds
Separate results are maintained for each auction
• Input Bill Determinants
•
•
•
ArrQty a, aid, source, sink – quantity of ARR held by Asset Owner a on path source to sink associated with TCR
Auction aid
• The portion of an AO’s ARR total Award on a path settled at each auction price is determined by a combination
of Self-Conversion, static minimum percentages and the declined quantity remaining
TcrAucPrc aid, source, sink – difference in price between source and sink in TCR Auction aid
NumDaysInPeriod aid – number of days in the month or season of TCR Auction aid
SPP.org
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Auction Revenue Rights Uplift
ArrUpliftDlyAmt a, aid, d = TcrArrUnderDlyAmt aid, d *
[ ABS (ArrAucTxnDlyAmt a, aid, d ) / ArrAucTxnSppDlyAmt aid, d ]
• Allocation of the net difference between ARR value and the daily settlement of TCR
auctions
•
•
TCR auction may result in a net deficit or excess when compared to the payments to ARR holders. The net
deficit amount is distributed among ARR holders pro rata by the daily absolute value of ARR settlement
amount, while excess is carried forward to the end of the year
Separate results are maintained for each auction
• Input Bill Determinants
•
•
•
TcrArrUnderDlyAmt aid, d – daily net deficit between ARR funding and TCR auction settlement for TCR Auction
aid
ArrAucTxnDlyAmt a, aid, d – ARR settlement amount of Asset Owner a for TCR Auction aid
ArrAucTxnSppDlyAmt aid, d – absolute value of ARR settlement amount of all Asset Owners for TCR Auction
aid
SPP.org
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Auction Revenue Rights Monthly Payback
ArrPaybackMnthlyAmt a, mn = (-1) *
Min {
ArrUpliftAoMnthlyAmt a, mn ,
ARFMnthlyAmt yr * [ ArrUpliftAoMnthlyAmt a, mn /
ArrUpliftSppMnthlyAmt mn ]
}
• Use of Excess Auction Revenue in a year to payback uplift in that year
•
•
On the last day of the month, to the extent funds were carried forward and uplift was paid during that month,
the total is used to pay back the uplift. The payback is limited to the total uplift paid in the month. Funds
remaining carry forward to the end of the year
Excess and Uplift from all TCR auctions contribute to a single pay back calculation
• Input Bill Determinants
•
•
•
ArrUpliftAoMnthlyAmt a, mn – monthly uplift paid by Asset Owner a
ARFMnthlyAmt yr – total revenue excess, from all TCR Auctions, available at the end of the month
ArrUpliftSppMnthlyAmt mn – monthly uplift paid by all Asset Owners
SPP.org
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Auction Revenue Rights Annual Payback
ArrPaybackYrlyAmt a, yr = (-1) *
Min {
ArrNetUpliftAoYrlyAmt a, yr ,
ARFYrlyAmt yr * [ ArrNetUpliftAoYrlyAmt a, yr /
ArrNetUpliftSppYrlyAmt a, yr ]
}
• Use of Excess Auction Revenue in a year to payback uplift in that year
•
•
On the last day of the year to the extent funds were carried forward and uplift was paid during that year and
not paid back in the monthly process the remaining total is used to payback the uplift. The payback is limited
to the total uplift paid in the year less monthly payback already made. Funds remaining are allocated to ARR
holders – the fund is closed out.
Excess and Uplift from all TCR auctions contribute to a single pay back calculation
• Input Bill Determinants
•
•
•
ArrNetUpliftAoYrlyAmt a, yr – yearly uplift, less monthly payback, paid by Asset Owner a
ARFYrlyAmt yr – total revenue excess, from all TCR Auctions, available at the end of the year
ArrNetUpliftSppYrlyAmt a, yr – yearly uplift, less monthly payback, paid by all Asset Owners
SPP.org
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Auction Revenue Rights Annual Closeout
ArrCloseoutYrlyAmt a, yr =
(-1) * [ ARFYrlyAmt yr + ArrPaybackSppYrlyAmt yr ] *
[ ArrNominationCapAoYrlyQty a, yr / ArrNominationCapSppYrlyQty yr ]
• Allocation of the net difference between ARR value and the daily settlement of TCR
auctions
•
On the last day of the year to the extent funds in excess of payback during the year exist the remaining total
is allocated to ARR holders – the fund is closed out. The remaining amount is distributed among ARR holders
pro rata by sum of the Nomination Cap in effect on each day in the year
• Input Bill Determinants
•
•
•
•
ArrPaybackSppYrlyAmt yr – total yearly payback paid to all Asset Owners
ARFYrlyAmt yr – total revenue excess, from all TCR Auctions, available at the end of the year
ArrNominationCapAoYrlyQty a, yr – sum of daily Nomination Cap of Asset Owner a
ArrNominationCapSppYrlyQty yr – total sum of daily Nomination Cap of all Asset Owners
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Real-Time Market Charge Types
• Energy & Operating Reserves
•
•
•
•
•
•
•
RtEnergy5minAmt
RtNEnergy5minAmt
RtVEnergy5minAmt
RtRegUp5minAmt
RtRegDn5minAmt
RtSpin5minAmt
RtSupp5minAmt
Real-Time Asset Energy
Real-Time Non-Asset Energy
Real-Time Virtual Energy
Real-Time Regulation-Up
Real-Time Regulation-Down
Real-Time Spinning Reserve
Real-Time Supplemental Reserve
• Operating Reserve Cost Allocation
•
•
•
•
RtRegUpDistHrlyAmt
RtRegDnDistHrlyAmt
RtSpinDistHrlyAmt
RtSuppDistHrlyAmt
Real-Time Regulation-Up Distribution
Real-Time Regulation-Down Distribution
Real-Time Spinning Reserve Distribution
Real-Time Supplemental Reserve Distribution
• Make Whole Payment
•
•
RtMwpCpAmt
RtMwpDistHrlyAmt
RUC Make-Whole-Payment
RUC Make-Whole-Payment Distribution
• Over-Collected Losses and Revenue Neutrality
•
•
RtOclDistHrlyAmt
RtRnuHrlyAmt
Real-Time Over-Collected Losses Distribution
Real-Time Revenue Neutrality Uplift Distribution
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Real-Time Market Charge Types (cont’d)
• Performance Penalties
•
•
RtRegNonPerf5minAmt
RtCRDeplFailAmt
Real-Time Regulation Non-Performance
Real-Time Contingency Reserve Deployment Failure
• Regulation Adjustment & Out-Of-Merit adjustments
•
•
RtRegAdj5minAmt
RtOom5minAmt
Real-Time Regulation Deployment Adjustment
Real-Time Out-Of-Merit
• Joint Operating and Reserve Sharing Group Agreements
•
•
RtJoaHrlyAmt
RtRsg5minAmt
Real-Time Joint Operating Agreement
Real-Time Reserve Sharing Group
• Cost Allocation
•
•
•
RtRegNonPerfDistHrlyAmt
RtCRDeplFailDistHrlyAmt
RtRsgDistHrlyAmt
Real-Time Regulation Non-Performance Distribution
Real-Time Contingency Reserve Deployment Failure Distribution
Real-Time Reserve Sharing Group Distribution
• Miscellaneous
•
MiscDlyAmt
Miscellaneous
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Real-Time Asset Energy
RtEnergy5minAmt a, s, i =
RtLmp5minPrc s, i * [ (RtBillMtr5minQty a, s, i - DaClrdHrlyQty a, s, h )
- S t RtEnFinHrlyQty a, s, t, h ] / 12
• Settlement of the net RTBM incremental energy position at an Asset Owner’s
Resources and loads
•
Calculated in 5-minute intervals at each Resource or load Settlement Location
• Input Bill Determinants
•
•
•
•
RtLmp5minPrc s, i – 5-minute RTBM Locational Marginal Price at Settlement Location s
RtBillMtr5minQty a, s, i – 5-minute Billable Meter Quantity at Settlement Location s for Asset Owner a
DaClrdHrlyQty a, s, h – hourly DA Market Cleared Quantity at Settlement Location s for Asset Owner a
RtEnFinHrlyQty a, s, h, t – hourly RTBM bilateral transaction t at Settlement Location s for Asset Owner a
represented by Financial Schedules which resolve to Resource or load assets
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Real-Time Non-Asset Energy
RtNEnergy5minAmt a, s, i =
RtLmp5minPrc s, i
* [S t RtImpExp5minQty a, s, i, t - S t DaImpExp5minQty a, s, i, t
- S t RtNEnFinHrlyQty a, s, h, t ] / 12
• Settlement of the net RTBM incremental energy position at locations other than an
Asset Owner’s Resources and load (i.e. interfaces)
•
Calculated in 5-minute intervals at each Settlement Location where an Asset Owner has Determinants
• Input Bill Determinants
•
•
•
•
RtLmp5minPrc s, i – 5-minute RTBM Locational Marginal Price at Settlement Location s
RtImpExp5minQty a, s, I, t – 5-minute RTBM Cleared Import / Export transaction t Quantity at Settlement
Location s for Asset Owner a
DaImpExp5minQty a, s, I, t – 5-minute DA Market Cleared Import / Export transaction t Quantity at Settlement
Location s for Asset Owner a
RtNEnFinHrlyQty a, s, h, t – hourly RTBM bilateral transaction t at Settlement Location s for Asset Owner a
represented by Financial Schedules which do not resolve to Resource or load assets
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Real-Time Virtual Energy
RtVEnergy5minAmt a, s, i =
RtLmp5minPrc s, i * S t DaClrdVHrlyQty a, s, h, t /12 * (-1)
• Settlement of the net RTBM energy position of an Asset Owner’s Cleared Virtual
Bids and Offers
•
Calculated in 5-minute intervals at each Settlement Location where an Asset Owner Clears a Virtual Bid or
Offer
• Input Bill Determinants
•
•
RtLmp5minPrc s, i – 5-minute RTBM Locational Marginal Price at Settlement Location s
DaClrdVHrlyQty a, s, h, t – hourly DA Market Cleared Virtual Bid / Offer transaction t Quantity at Settlement
Location s for Asset Owner a
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Real-Time Regulation-Up
RtRegUp5minAmt a, s, i = RtRegUpMcp5minPrc z, s, i
* ( RtRegUp5minQty a, s, i - DaRegUpHrlyQty a, s, h ) / 12 * (-1)
• Settlement of RTBM incremental Cleared Regulation-Up at an Asset Owner’s
Resources
•
Calculated hourly at each Resource Settlement Location Clearing Regulation-Up
• Input Bill Determinants
•
•
•
RtRegUpMcp5minPrc z, s, i – 5-minute RTBM Clearing Price for Regulation-Up in Reserve Zone z at
Settlement Location s
RtRegUp5minQty a, s, i – 5-minute RTBM Cleared Regulation-Up capacity at Settlement Location s for Asset
Owner a
DaRegUpHrlyQty a, s, h – hourly DA Market Cleared Regulation-Up capacity at Settlement Location s for
Asset Owner a
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Real-Time Regulation-Down
RtRegDn5minAmt a, s, i = RtRegDnMcp5minPrc z, s, i
* ( RtRegDn5minQty a, s, i - DaRegDnHrlyQty a, s, h ) / 12 * (-1)
• Settlement of RTBM incremental Cleared Regulation-Down at an Asset Owner’s
Resources
•
Calculated hourly at each Resource Settlement Location Clearing Regulation-Down
• Input Bill Determinants
•
•
•
RtRegDnMcp5minPrc z, s, i – 5-minute RTBM Clearing Price for Regulation-Down in Reserve Zone z at
Settlement Location s
RtRegDn5minQty a, s, i – 5-minute RTBM Cleared Regulation-Down capacity at Settlement Location s for
Asset Owner a
DaRegDnHrlyQty a, s, h – hourly DA Market Cleared Regulation-Down capacity at Settlement Location s for
Asset Owner a
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Real-Time Spinning Reserve
RtSpin5minAmt a, s, i = RtSpinMcp5minPrc z, s, i
* ( RtSpin5minQty a, s, i - DaSpinHrlyQty a, s, h ) / 12 * (-1)
• Settlement of RTBM incremental Cleared Spinning Reserve at an Asset Owner’s
Resources
•
Calculated hourly at each Resource Settlement Location Clearing Spinning Reserve
• Input Bill Determinants
•
•
•
RtSpinMcp5minPrc z, s, i – 5-minute RTBM Clearing Price for Spinning Reserve in Reserve Zone z at
Settlement Location s
RtSpin5minQty a, s, i – 5-minute RTBM Cleared Spinning Reserve capacity at Settlement Location s for
Asset Owner a
DaSpinHrlyQty a, s, h – hourly DA Market Cleared Spinning Reserve capacity at Settlement Location s for
Asset Owner a
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Real-Time Supplemental Reserve
RtRegUp5minAmt a, s, i = RtSuppMcp5minPrc z, s, i
* ( RtSupp5minQty a, s, i - DaSuppHrlyQty a, s, h ) / 12 * (-1)
• Settlement of RTBM incremental Cleared Supplemental Reserve at an Asset
Owner’s Resources
•
Calculated hourly at each Resource Settlement Location Clearing Supplemental Reserve
• Input Bill Determinants
•
•
•
RtSuppMcp5minPrc z, s, i – 5-minute RTBM Clearing Price for Supplemental Reserve in Reserve Zone z at
Settlement Location s
RtSupp5minQty a, s, i – 5-minute RTBM Cleared Supplemental Reserve capacity at Settlement Location s for
Asset Owner a
DaSuppHrlyQty a, s, h – hourly DA Market Cleared Supplemental Reserve capacity at Settlement Location s
for Asset Owner a
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Real-Time Regulation-Up Distribution
RtRegUpDistHrlyAmt a, s, h =
RtRegUpSppHrlyAmt h * RtLoadRatioShareHrlyFct a, s, h * (-1)
• Cost Allocation of RTBM incremental settlement of Regulation-Up by Load Ratio
Share
•
Calculated hourly for each Settlement Location with positive Billable Meter data (load) or Exports
• Input Bill Determinants
•
•
RtRegUpSppHrlyAmt h – hourly aggregation of 5-minute RTBM incremental settlement of Regulation-Up for
all Asset Owners
RtLoadRatioShareHrlyFct a, s, h – hourly positive value of the aggregation 5-minute Billable Meter data and
Exports for Asset Owner a in Reserve Zone z divided by the footprint total
• + & - values within the hour net before aggregation
• Exports for Reserve Sharing Events are excluded
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Real-Time Regulation-Down Distribution
RtRegDnDistHrlyAmt a, s, h =
RtRegDnSppHrlyAmt h * RtLoadRatioShareHrlyFct a, s, h * (-1)
• Cost Allocation of RTBM incremental settlement of Regulation-Down by Load Ratio
Share
•
Calculated hourly for each Settlement Location with positive Billable Meter data (load) or Exports
• Input Bill Determinants
•
•
RtRegDnSppHrlyAmt h – hourly aggregation of 5-minute RTBM incremental settlement of Regulation-Down
for all Asset Owners
RtLoadRatioShareHrlyFct a, s, h – hourly positive value of the aggregation 5-minute Billable Meter data and
Exports for Asset Owner a in Reserve Zone z divided by the footprint total
• + & - values within the hour net before aggregation
• Exports for Reserve Sharing Events are excluded
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Real-Time Spinning Reserve Distribution
RtSpinDistHrlyAmt a, s, h =
RtSpinSppHrlyAmt h * RtLoadRatioShareHrlyFct a, s, h * (-1)
• Cost Allocation of RTBM incremental settlement of Spinning Reserve by Load Ratio
Share
•
Calculated hourly for each Settlement Location with positive Billable Meter data (load) or Exports
• Input Bill Determinants
•
•
RtSpinSppHrlyAmt h – hourly aggregation of 5-minute RTBM incremental settlement of Spinning Reserve
for all Asset Owners
RtLoadRatioShareHrlyFct a, s, h – hourly positive value of the aggregation 5-minute Billable Meter data and
Exports for Asset Owner a in Reserve Zone z divided by the footprint total
• + & - values within the hour net before aggregation
• Exports for Reserve Sharing Events are excluded
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Real-Time Supplemental Reserve Distribution
RtSuppDistHrlyAmt a, s, h =
RtSuppSppHrlyAmt h * RtLoadRatioShareHrlyFct a, s, h * (-1)
• Cost Allocation of RTBM incremental settlement of Supplemental Reserve by Load
Ratio Share
•
Calculated hourly for each Settlement Location with positive Billable Meter data (load) or Exports
• Input Bill Determinants
•
•
RtSuppSppHrlyAmt h – hourly aggregation of 5-minute RTBM incremental settlement of Supplemental
Reserve for all Asset Owners
RtLoadRatioShareHrlyFct a, s, h – hourly positive value of the aggregation 5-minute Billable Meter data and
Exports for Asset Owner a in Reserve Zone z divided by the footprint total
• + & - values within the hour net before aggregation
• Exports for Reserve Sharing Events are excluded
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RUC Make-Whole-Payment
RtMwpCpAmt a, s, c = ( CncldStartAmt a, s, c
+ Max (0,
(S i ( { ( IF ( CncldStartRatio a, s, c = 0, THEN 1, ELSE 0) } *
{ RtStartUpElig5minFlg a, s, i, c * RtStartUp5minAmt a, s, i, c
+ RtRucComStat5minFlg a, s, i, c * [ RtMwpCost5minAmt a, s, i, c
+ RtTransition5minAmt a, s, i, c + RtMwpRev5minAmt a, s, i, c
+ RtOom5minAmt a, s, i + RtRegAdj5minAmt a, s, i
– RtURDAdj5minAmt a, s, i, c – RtStatusAdj5minAmt a, s, i, c
– RtLimitAdj5minAmt a, s, i, c ] } ) )
) * (-1)
• Revenue Guarantee to Resources Committed economically in the RTBM
•
Calculated for the contiguous “Market” status intervals of a Commitment Period within a single Operating
Day for Resources committed by SPP in the RTBM
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RUC Make-Whole-Payment (cont’d)
• Input Bill Determinants
•
•
•
•
•
•
•
CncldStartAmt a, s, c – prorated start-up due to cancellation, subject to eligibility
RtStartUp5minAmt a, s, i, c – subject to eligibility (RtStartUpElig5minFlg)
RtMwpCost5minAmt a, s, i, c – 5-minute interval recurring production cost for Asset Owner a’s Resource at
Settlement Location s based on the Offer parameters effective at the time of the DA Market Commitment c
• No-Load
• Minimum Energy Cost (area under the As-Offered Offer curve between 0 & the applicable minimum
limit)
• Incremental Energy (area under the as dispatched Offer curve between the applicable minimum limit
and metered output)
• Availability Cost for each of the Operating Reserve products Cleared
RtTransition5minAmt a, s, i, c – Cost associated with a Combined Cycle Resource moving into a higher
configuration
RtMwpRev5minAmt a, s, i, c – 5-minute interval revenue for Asset Owner a’s Resource at Settlement Location s
during RUC Commitment c
• RTBM incremental Energy (absent Financial Schedules) & the value of each of the incremental
Operating Reserve product capacities cleared in the RTBM
RtOom5minAmt a, s, i & RtRegAdj5minAmt a, s, i – adjustments to Resource revenue for Out-of-Merit dispatch
and Regulation deployment
RtURDAdj5minAmt a, s, i, c , RtStatusAdj5minAmt a, s, i, c & RtLimitAdj5minAmt a, s, i, c – clawback of cost
components to prevent recovery during periods of ‘deviant’ behavior
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RUC Make-Whole-Payment Distribution
RtMwpDistHrlyAmt a, s, h =
RtMwpSppDistRate d * RtDevHrlyQty a, s, h
• Cost Allocation of Make Whole Payment for Resources Committed in RUC to an Asset
Owner’s RTBM ‘deviations’
•
Calculated hourly for each Settlement Location where an Asset Owner has deviation quantities
• Input Bill Determinants
•
•
RtMwpSppDistRate d – daily rate achieved by dividing the total of all RUC Make Whole Payments for the
Operating Day by the sum of all hourly Cost Allocation Determinants over the Operating day
RtDevHrlyQty a, s, h – hourly ‘deviations’ at each Settlement Location s for Asset Owner a
1. Incremental load, Virtual Bid / Offer and Import / Export & through transaction quantities
2. The quantity change when a Resource raises it minimum limit
3. The quantity change when a Resource lowers it maximum limit
4. The quantity cleared in DA Market when a Resource cleared DA, but is off-line in RTBM
5. The difference between metered output and the optimal output based on LMP when a Resource is on
Manual status
6. The difference between metered output and the DA market cleared quantity when a Resource self
commits in RTBM
7. The optimal output based on LMP when a Resource is committed in RUC but are off-line in RTBM
8. The URD quantity when the Resource is beyond it operating tolerance
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Real-Time Over-Collected Losses Distribution
RtOclDistHrlyAmt a, s, lp, h =
RtNormLossRbtHrlyFct a, s, lp, h * RtIncrOclHrlyAmt h * (-1)
• Rebate of surplus collected as a result of the marginal pricing of losses
•
•
Calculated hourly for each Settlement Location where an Asset Owner has an incremental RTBM energy
position due to the net of all Resource or load activity, Financial Schedules and Interchange Transactions –
excludes Virtual Bids and Offers
Approach groups Settlement Locations into Loss Pools, which are dynamically defined as all of each AO’s
transactional activity regardless of the SL. Transactions by multiple AO’s at a common SL will be included in
separate Loss Pools
• Input Bill Determinants
•
•
RtNormLossRbtHrlyFct a, s, lp, h – hourly factor for Asset Owner a’s net withdrawal at Settlement Location s in
Loss Pool lp valued by the difference between the local MLC and that of the “source” of the service
• Positive loss factors (payment for losses) are normalized
• “source” of the service is determined by assuming that generation in a Loss Pool first serves
withdrawal in the Loss Pool, then is used to satisfy withdrawal outside the Loss Pool to the extent
available
RtOclHrlyAmt h – hourly over collection for the footprint
• Achieved by summing the product of the (MEC and MLC) with (RTBM incremental injection &
withdrawal) over all Settlement Locations and netting off the value of SPP net Inadvertent
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Revenue Neutrality Uplift Distribution
RtRnuHrlyAmt a, s, h =
RtRnuSppDistRate d * RtRnuDistHrlyQty a, s, h * (-1)
• Uplift of the imbalance from all other settlement charge types
•
•
Calculated hourly for each Settlement Location where an Asset Owner has a RTBM load or generation,
Interchange or Virtual Bids & Offers.
Imbalance is categorized as:
• Day Ahead Market Revenue Inadequacy
• RTBM Revenue Inadequacy
• Out-of-Merit Energy settlement
• Regulation Deployment Adjustment settlement
• Joint Operating Agreement settlement
• Net Inadvertent
• RTBM Congestion
• Input Bill Determinants
•
•
RtRnuSppDistRate d – daily rate = the sum of all imbalance divided by the sum of all uplift determinants
RtRnuDistHrlyQty a, s, h – hourly uplift determinants for Asset Owner a at Settlement Location s
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Real-Time Regulation Non-Performance
RtRegNonPerf5minAmt a, s, i = Max ( 0,
( DaRegUpHrlyQty a, s, h * DaRegUpMcpHrlyPrc z, s, h
+ ( RtRegUp5minQty a, s, i - DaRegUpHrlyQty a, s, h )
* RtRegUpMcp5minPrc z, s, i ) / 12
+ ( DaRegDnHrlyQty a, s, h * DaRegDnMcpHrlyPrc z, s, h
+ ( RtRegDn5minQty a, s, i - DaRegDnHrlyQty a, s, h )
* RtRegDnMcp5minPrc z, s, i ) / 12)
• Clawback of Regulation Revenue
•
Calculated hourly for each Resource outside its Operating Tolerance when it has cleared Regulation-Up or
Regulation-Down in RTBM
• Input Bill Determinants
•
•
DaRegUpHrlyQty a, s, h , DaRegDnHrlyQty a, s, h , RtRegUp5minQty a, s, i , RtRegDn5minQty a, s, i – hourly and 5minute cleared Regulation quantities for Asset Owner a at Settlement Location s
DaRegUpMcpHrlyPrc z, s, h , DaRegDnMcpHrlyPrc z, s, h , RtRegUpMcp5minPrc z, s, i , RtRegDnMcp5minPrc a, s, i –
hourly and 5-minute Regulation clearing prices for Reserve Zone z at Settlement Location s
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Real-Time Contingency Reserve Deployment Failure
RtCRDeplFailAmt a, s, i =
RtCRSLShortfallQty a, s, i * ABS ( RtLmp5minPrc
s, i
)
• Penalty for failing to provide Contingency Reserve when deployed
•
•
•
•
Calculated for each Resource not meeting the deployment instruction during a Contingency Reserve Event
The criteria for ‘meeting’ the deployment instruction is a 4 step evaluation
• Was the Resource above its ramped Set Point at the end of the deployment period?
• Was the Resource above its stepped Set Point at the end of the deployment period?
• Did the Resource move more than the change between its ramped Set Point at the beginning and end
of the deployment period?
• Did the Resource move more than the change between its stepped Set Point at the beginning and end
of the deployment period?
If the Resource is modeled as a part of a Common Bus its performance is evaluated in aggregate with the
other resources in the group
The penalty is the LMP at the end of the event - not scaled to the duration of the event
• Input Bill Determinants
•
•
RtLmp5minPrc s, i – 5-minute LMP at Settlement Location s
RtCRSLShortfallQty a, s, i – 5-minute shortfall (the minimum as evaluated by the 4 tests) for Asset Owner a at
Settlement Location s
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Real-Time Regulation Deployment Adjustment
RtRegAdj5minAmt a, s, i =
RtRegUpAdj5minAmt a, s, i + RtRegDnAdj5minAmt a, s, i
• Adjustment to Resource revenue for the combined impact of Energy and Regulation
deployment
•
Calculated in each 5-minute interval a Resource has “Regulating” control status
• Input Bill Determinants
•
•
RtRegUpAdj5minAmt a, s, i – 5-minute Regulation Up adjustment for Asset Owner a at Settlement Location s
• The deployed quantity * the difference (+ or -) between LMP and offer cost rate
RtRegDnAdj5minAmt a, s, i - 5-minute Regulation Down adjustment for Asset Owner a at Settlement Location s
• The deployed quantity * the difference (+ or -) between LMP and offer cost rate
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Real-Time Regulation Out-Of-Merit
RtOom5minAmt a, s, i = RtOom5minFlg a, s, i * (
RtOomeIncr5minAmt a, s, i + RtOomeDecr5minAmt a, s, i + RtOomor5minAmt
) * (-1)
• Adjustment to compensate Resources for additional cost incurred as a result of being
manually dispatched away from the optimal point
•
Calculated in each interval for each Resource receiving an OOM instruction
• Input Bill Determinants
•
•
•
•
RtOom5minFlg a, s, i – 5-minute Out-Of-Merit flag for asset Owner a at Settlement Location s
RtOomeIncr5minAmt a, s, i – 5-minute upward instruction credit for Asset Owner a at Settlement Location s
• Resource compensated for additional cost incurred
RtOomeDeccr5minAmt a, s, i - 5-minute downward instruction credit for Asset Owner a at Settlement Location s
• Resource made whole to its DA Market position
RtOomor5minAmt a, s, i - 5-minute downward Operating Reserve clearing credit for Asset Owner a at
Settlement Location s
• Resource made whole to its DA Market position for Operating Reserve Products
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Real-Time Joint Operating Agreement
RtJoaHrlyAmt a, h, f =
<The settlement formulae is not yet defined. As agreements with outside
entities are adopted, the calculations will emerge>
• Payment for price coordination of a co-managed reciprocal flowgate
•
•
Calculated hourly for each flowgate as a function of its shadow price and the relief provided for the
constraint.
Payments to and from other RTOs
• Input Bill Determinants
•
Not yet defined
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Real-Time Reserve Sharing Group
RtRsg5minAmt a, i, t =
<The settlement formulae is not yet defined. As the Reserve Sharing Group
agreement is constructed the calculations will emerge>
• Settlement for response to a Contingency Reserve Event
•
•
A charge to an RSG member and payment to SPP when SPP responds to an event outside the footprint
A credit to an RSG member and payment from SPP for outside response to an event in SPP
• Input Bill Determinants
•
Not yet defined
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Real-Time Regulation Non-Performance Distribution
RtRegNonPerfDistHrlyAmt a, s, h =
RtRegNonPerfSppHrlyAmt h * RtLoadRatioShareHrlyFct a, s, h * (-1)
• Cost Allocation of penalties collected for Regulation Non-Performance
•
Calculated hourly for each Settlement Location with positive Billable Meter data (load) or Exports
• Input Bill Determinants
•
•
RtRegNonPerfSppHrlyAmt h – total hourly regulation Non-Performance penalty for all Asset Owners
RtLoadRatioShareHrlyFct a, s, h – hourly Load Ratio Share for Asset Owner a at Settlement Location s
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Real-Time Contingency Reserve Deployment Failure Distribution
RtCRDeplFailDistHrlyAmt a, s, h =
RtCRDeplFailSppHrlyAmt h * RtLoadRatioShareHrlyFct a, s, h * (-1)
• Cost Allocation of penalties collected for Contingency Reserve Failure
•
Calculated hourly for each Settlement Location with positive Billable Meter data (load) or Exports
• Input Bill Determinants
•
•
RtCRDeplFailSppHrlyAmt h – total hourly Contingency Reserve Deployment Failure penalty for all Asset
Owners
RtLoadRatioShareHrlyFct a, s, h – hourly Load Ratio Share for Asset Owner a at Settlement Location s
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Real-Time Reserve Sharing Group Distribution
RtRsgDistHrlyAmt a, s, h =
RtRsgSppHrlyAmt h * RtLoadRatioShareHrlyFct a, s, h * (-1)
• Cost Allocation of settlement for Reserve Sharing Group events
•
Calculated hourly for each Settlement Location with positive Billable Meter data (load) or Exports
• Input Bill Determinants
•
•
RtRsgSppHrlyAmt h – total hourly Reserve Sharing Group settlement for all Asset Owners
RtLoadRatioShareHrlyFct a, s, h – hourly Load Ratio Share for Asset Owner a at Settlement Location s
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Miscellaneous
MiscDlyAmt a, c, s, rnu, d
• Assignment of an amount calculated outside the system
•
•
Utilized primarily for dispute resolution when the magnitude or quantity does not warrant a Resettlement of
the Operating Day – threshold defined in the protocols
Carries attribute which specify the charge type & settlement location associated with the adjustment
• Input Bill Determinants
•
none
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Documentation available
• Future Market Protocols
• Settlement formulae written as pseudo-code
• Exceptions and conditional rules described in language
• Appendix F provides settlement examples
• Charge Type examples workbook
• Based on a mini-market model
• Live calculations which respond to changing input
• End to end formulae
• Settlement User Group training
• Detailed examples in a variety of scenarios
• Quizzes and tests with answer keys
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