ERCOT’s Technical Advisory Committee last week unanimously approved changes to the ISO’s congestion revenue rights (CRR) activity calendar and its Nodal Operating Guide.
Both votes were conducted by email following an April 24 information session. The TAC canceled its regularly scheduled meeting due to a lack of voting items.
The first change updates ERCOT’s CRR calendar following the Board of Directors’ approval earlier in April of a nodal protocol revision request (NPRR). NPRR808 extended the CRR auction process into the third year forward — with one monthly and one long-term auction each calendar month — and revised the percentages sold in its long-term sequence. It also aligned modifying load zones to the timetable.
“This should be a huge benefit to our market, and I’m excited to see it implemented,” Morgan Stanley’s Clayton Greer emailed his fellow TAC members after the vote.
ERCOT’s Carrie Bivens, manager of forward markets, said during the information session that the TAC’s approval was required by May 1 in order to be ready for the long-term auction that begins this fall. She said staff has not yet completed testing to ensure the credit monitoring and management system can handle the additional inventory.
“We believe we can, but the risk remains out there,” Bivens said.
The change to the Nodal Operating Guide (NOGRR167) revises it to be consistent with NPRR776, which was also approved by the board in April and aligns the protocol language with currently used verbal communication practices between transmission service providers, qualified scheduling entities and generation resources. The TAC had tabled NOGRR167 during its March meeting.
The committee is scheduled to meet again May 25.
– Tom Kleckner
