Intraday Offers Update & Manual 11 Revisions Review

Transcription

1 Intraday Offers Update & Manual 11 Revisions Review Lisa Morelli Manager, Real-time Market Operations Market Implementation Committee June 7, 2017

2 Intraday Offers (Hourly Offers) Filing History FERC initiates 206 proceeding directing PJM to move to Intraday Offers FERC rejects the PJM proposal and orders a compliance filing FERC issues order accepting PJM s Intraday Offers proposal PJM files proposal to implement Intraday Offers PJM submits compliance filing PJM 2 nd submits compliance filing Go Live 2

3 Participant Training Activities When Readiness Activity January 2017 Markets Gateway Impacts training delivered New intraday offers Markets Gateway training environment created August 7 September 15 September / October Ongoing Additional Member Training Sessions Sessions are posted on the Tech Change Forum page Will cover business rule and Markets Gateway changes Market Trials (Coordinated DA clearing exercise) Monthly Tech Change Forum Updates 3

4 Supporting Materials Additional Materials are available under the Intraday Offers section of the Markets Gateway Tools Page Markets Gateway Impacts Education Slides and January 9 th Recording Updated External Specification Guide (newly added DR offer impacts) XML Schema, including XSD information Markets Gateway User Guide (intraday offer-related updates available in July) Intraday Offers Frequently Asked Questions Document Accessing the Intraday Offers Markets Gateway Training Environment Market Rule Changes XML/Browserless Information & Examples 4

5 Manual Revision Approval Path Conforming manual revisions are needed to document and implement the business rules accepted by FERC M11 (Energy & Ancillary Services Market Operations) June 7 MIC First Read July 12 MIC Vote July 27 MRC First Read Aug 9 MIC First Read Aug 24 MRC Vote First Read Sep 13 MIC Vote Sep 28 MRC Vote M27 / 28 (Tariff & Operating Agreement Accounting) 5

6 M11 - Section 2.1 Revision Summary Section 2.1: Overview of PJM Energy Markets Defines periods following the close of the Day-Ahead Market when offers can be updated for use in real-time Generation Rebidding Period (DA market close through 14:15) 18:30 day-ahead through 65 min prior to operating hour 6

7 M11 - Section 2.3 Revision Summary Section 2.3: Energy Market Business Rules Rules outlining the interaction between daily and hourly updates in the Markets Gateway system and which data is automatically carried forward to subsequent operating days Rules for switching from price schedule to cost schedule following close of day-ahead market (replacement for existing GUCC functionality) Section 2.3.7: Mechanical / Technical Rules Consolidated existing language for clarity and specified whether each offer parameter must have the same value for all 24 hours of the day or can have hourly differentiated values 7

8 M11 - Section 2.3 Revision Summary (Continued) New Section : Market Power Mitigation Includes previously existing language on market power mitigation applied to offline resources with modifications: Clarifies offer capping treatment for CTs committed in the Day-Ahead Market but not expected to run in real-time unless notified by dispatch Specifies duration of offer capping for units offer capped in real-time Introduces new language implementing the application of market power mitigation for online resources and self-scheduled resources Online resources are eligible for offer capping after DA commitment or once min run time is exhausted Self-scheduled resources are now subject to offer capping per FERC order 8

9 M11 - Sections 3, 4 & 6 Revision Summary Sections 3, 4 & 6: Updates for Regulation and Synchronized Reserve Markets Updated timelines for submitting regulation and synchronized reserve offer data Daily offers due by close of Rebid Period day-ahead (no change) Hourly updates allowed through 65 min prior to start of operating hour Specified hourly offer granularity 9

10 M11 Section 9 Revision Summary Section 9: Hourly Scheduling New section 9.1: Hourly Schedule Adjustments Defines the parameters that may be updated following the close of the Day-Ahead Market Defines exceptions that apply to each parameter, for example: Rules governing increases and decreases to incremental offer prices, startup and no load costs Parameter updates which are restricted to uncommitted hours only Parameters that may continue to be updated beyond 65 minutes prior to the operating hour 10

11 M11 Section 9 Revision Summary Section 9: Hourly Scheduling New section 9.1.1: Opting Out of Intraday Offers Defines business rules for opting out of the ability to update offers following the close of the Generation Rebidding Period. Opt out is elected on a per unit basis and applies for the entire month Hourly differentiated offers may still be submitted into the day-ahead market and during the Generation Rebidding Period Limited updates are allowed following the close of the Generation Rebidding Period 11

12 M11 Section 10 Revision Summary Section 10.3: Economic Energy Market Participation (Demand Resources) Defines hourly or daily granularity for demand resource offer parameters 12

13 Amendment to Intraday Offers Compliance Filing PJM plans to file an amendment to its compliance filing in the Intraday Offers docket Addresses inaccuracies in the language defining offer parameter frequency and granularity Brings tariff language in line with the design communicated in the compliance filings and transmittal letters filed in this docket Also, will add ability for dual fuel units to update schedule availability intraday to reflect fuel availability Proposed Tariff revisions will be posted with the materials for this agenda item 13

14 Schedule ID Change Public Service Announcement 14

15 Change to Allowable Schedule IDs The implementation of Intraday Offers will limit the schedule IDs that can be created and offered This impacts all Generation resources, not just those that plan to update schedules hourly Schedules using IDs not in the new list cannot be made available in Markets Gateway starting on the November 1 market day Members should begin using the limited Intraday Offers schedule IDs at their earliest convenience to minimize the implementation impact 15

16 Schedule IDs Currently Allowed Cost Based Schedules: 1-69, Price Based PLS Schedules: Price Based Schedules: Schedule IDs Allowed in Intraday Offers Cost Based Schedules: 1-9 Price Based PLS Schedule: 79 Price Based Schedule: 99 Converting Schedule IDs PJM will post a step by step guide with instructions to: Create new schedules with the accepted IDs Download existing schedule details to copy to the new accepted IDs See Intraday Offers section of the Markets Gateway Tools Page Will require Market Seller action by October 31 in order to offer into the Day-Ahead Market on November 1 16

17 Questions Questions? Intraday Offers section of the Tech Change Forum Community Member Support Hotline at or , or at 17