NPRR #449 · Revision Request
NPRR449 Reduce Maximum CRR Transaction Limit in Auctions
ReasonSince Nodal go-live, the ERCOT CRR Auction has twice exceeded the maximum number of transactions (bids and offers) allowable in the CRR Auction. Although there is a round-two mechanism that allows re-submissions, the volume limitation is greatly reduced (example from 10,000 to 1,700 transactions). Historical bidding reflects that if TAC had approved a lower limit of 5,000 (example purposes only), the 2012 annual CRR Auction (approximately 226,000 transactions) would not have been oversubscribed, but would have had a healthy participation of 169,000 rather than the reduced volume of 90,000. Also, the monthly CRR Auction threshold could be less vulnerable to over-subscription if that value is not able to be reduced by TAC.
Created2012-03-22
Approved2012-04-17
Sections Affected
7.5.2
Summary
This Nodal Protocol Revision Request (NPRR) reduces the potential of oversubscription of Congestion Revenue Right (CRR) Auctions due to bid volumes by reducing the first round transaction limit from 10,000 to a value established by the Technical Advisory Committee (TAC).
Action Log 3 milestones
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Mar 22
PRSRecommended for Approval→ TAC consideration of NPRR449
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Apr 5
TACRecommended for Approval→ ERCOT Board consideration of NPRR449
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Apr 17
BOARDApproved
Amendments
| Date | Body | Motion | Result |
|---|---|---|---|
| Apr 5 '12 | TAC | To recommend approval of NPRR449 as recommended by PRS in the 3/22/12 PRS Report, as amended by the 4/4/12 ERCOT comments, and as revised by TAC; set an initial transaction limit of 5,000 for annual CRR Auctions and 7,500 for monthly CRR Auctions; and request that WMS review the process and timelines associated with setting transaction limits for future CRR Auctions. | Passed |
Documents 6
| Name | Type | Posted | Classification |
|---|---|---|---|
| 449NPRR-01 Reduce Maximum CRR Transaction Limit in Auctions 0313 | doc | Mar 13 '12 | Revision Request |
| 449NPRR-02 PRS Report 032212 | doc | Mar 26 '12 | Committee Report |
| 449NPRR-03 Impact Analysis 032912 | doc | Mar 29 '12 | Staff Report |
| 449NPRR-04 ERCOT Comments 040412 | doc | Apr 4 '12 | Revision Request Comments |
| 449NPRR-05 TAC Report 040512 | doc | Apr 5 '12 | Committee Report |
| 449NPRR-06 Board Report 041712 | doc | Apr 17 '12 | Committee Report |
Meetings That Took It Up 7
| Date | Meeting | Committee | Status |
|---|---|---|---|
| Aug 15 '12 | Wholesale Market Subcommittee (WMS) Meeting | WMS | Concluded |
| Jul 11 '12 | Wholesale Market Subcommittee (WMS) Meeting | WMS | Concluded |
| Jun 13 '12 | Wholesale Market Subcommittee (WMS) Meeting | WMS | Concluded |
| May 9 '12 | Wholesale Market Subcommittee (WMS) Meeting | WMS | Concluded |
| Apr 16 '12 | Board of Directors Meeting | BOARD | Concluded |
| Apr 5 '12 | Technical Advisory Committee (TAC) Meeting | TAC | Concluded |
| Mar 22 '12 | Protocol Revision Subcommittee (PRS) Meeting | PRS | Concluded |