Allowing Seasonal Bilateral Transactions

3y ago
53 Views
4 Downloads
221.07 KB
5 Pages
Last View : 2d ago
Last Download : 2m ago
Upload by : Kaydence Vann
Transcription

Allowing Seasonal Bilateral TransactionsBy Aleks Mitreski12/09/2015Brookfield Renewable A Leader in Renewable Power Generation

Overview2 Currently the rules prohibit submittal of sub-annual bilateral transactionsduring the annual bilateral window‒ Unless a resource fits a narrow criteria However, through the FCM timeline resource could end up with variousQualified Capacity values per season, and allowing seasonal bilateraltransactions would allow participants to enter in commercial bilateraltransactions to find a counterparty that will assume the Capacity SupplyObligation (“CSO”) and mitigate exposure‒ Reliability can be improved by finding a counterparty in the bilateral windowfor a given season since in times of scarcity, in ARA3 the CSO may not beacquired by another resource

Current Rules3 There are 3 Annual bilateral windows, with the last one occurring in the December prior to theapplicable delivery ndow forARA3CCP Delivery Period In October ISO-NE determines the SCC of a resource.‒ If the SCC is below its summer Qualified Capacity by the min of(20% or 40MW) than a “SignificantDecrease” provision is invoked‒ If the resource cannot provide a restoration plan, the Qualified Capacity is lowered to that SCC‒ The summer and winter Qualified Capacity can be derated to different values‒ Section III.13.1.2.2.4 discusses this provision Pursuant to Section III.13.4.2.1.3, due to Significant Decrease, the ISO enters in ARA3 an annualdemand bid on behalf of the resource in the amount that is the greatest difference between a CSO andthe Qualified Capacity for any month in the 12-month CCP period To be allowed to enter subannual bilaterals in an annual bilateral window, a resource must have adifferent CSO and be part of a composite offer‒ This can only be acheived at the qualification and main auction

Example Assume a resource has 100MW CSO and in October the ISO reduces the QualifiedCapacity of the resource to 70MW in the Summer and 40MW in the winter Assuming no restoration plan was approved, based on the current rules, in ARA3 the ISOwould enter a demand bid for the resource for the whole 12-month commitment periodbased on the largest difference for a given month between a CSO and the QualifiedCapacity (CSO – lowest Qualified Capacity) which in this case is 60MW Most participants do not currently have an opportunity to reduce the CSO to match thenew qualification profile in the December bilateral window for a given season, in advanceof the ARA3, in order to reduce the amount of a demand bid that ISO-NE will submit onbehalf of the resource.4

Proposed Change improves trading liquidity and reliability5 Allow ALL participants to submit seasonal bilateral transactions, so that a participant cancommercially mitigate some or all of its exposure with a bilateral trade The ISO will continue to have the ability to enter a demand bid on behalf of the ISO basedon the highest monthly difference between the CSO and the Qualified Capacity In times of capacity shortage, there may not be a resource that can acquire this capacityin ARA 3, even when entered at the FCA starting price

transactions would allow participants to enter in commercial bilateral transactions to find a counterparty that will assume the Capacity Supply Obligation (“CSO”) and mitigate exposure ‒Reliability can be improved by finding a counterparty in the bilateral window for a given season since in times of scarcity, in ARA3 the CSO may not be acquired by another resource . Current Rules 3 T

Related Documents:

Seasonal Dummy Model Deterministic seasonality S t can be written as a function of seasonal dummy variables Let s be the seasonal frequency – s 4 for quarterly – s 12 for monthly Let D 1t, D 2t, D 3t, , D st be seasonal dummies – D 1t 1 if s is the first period, otherwise D 1t 0 – D 2t 1 if s

The time-varying seasonal component can be established in di erent ways. Fixed trigonometric seasonal: A deterministic seasonal pattern can be constructed from a set of sine and cosine functions. In this case the seasonal component t is speci ed as a sum of trigonometric cycles with seasonal frequencies. Speci cally, we have t bXS 2c j 1 j;t .

3. to estimate seasonal fluctuations (seasonal components) ; 4. to eliminate seasonal fluctuations (seasonal adjustment ). For example, suppose a series Xt can be represented in the form: Xt Zt St ut (3.1) where: Zt is a trend (smooth function of time), St is a seasonal component, ut is an irregular component (random perturbation).

trend-cycle and the seasonal components. This classification is too restrictive when analysing time series with seasonal behavior since none of the considered outlier types can describe a perturbation mostly related to the seasonal component. In this paper, we present a new outlier type, the Seasonal Level Shift (SLS), which completes the previous

seasonal changes. Understanding these seasonal adaptations is important for reconstructing cervid life histories, ecosystem dynamics, and responses in the distant and not-so-distant past to changing seasonal-ity caused by climate change. Cervid antlers provide a rare opportunity for insight into faunal seasonal

Identifying laterality is extremely important in accurate code assignment. Here are a Per ICD-10-CM Official Guidelines for Coding & Reporting: - If a condition is bilateral and a code exists for bilateral, use the bilateral code. - If a condition is bilateral and a code does not exist

Card (FY 2020)1 ATM PoS and e-commerce Debit card 64% of the total volume of transactions 8,867 million transactions INR 35,341 billion – value of transactions 36% of the total volume of transactions 5,089 million transactions INR 7,005 billion – value of transactions Credit card 0.5% of the tota

Princess Anne -Minchinhampton " S.LBC.414/ . Mr. Sutherland Haresfield SLBC L4 Granleon Ltd Wallbridge, Stroud U .Lek5/ Powell Mr D Cainscross" SaJBQ.238/B Littlestok E ineigNailsworth .4B 68 . LageScam,mell Cons truc tionjEbley'I 5.L .66 The Vicar and ChurchflWardens Strod S . LBC65 Mr _D.Weeks Newport " SLB.ko.M Hn MriAdrdpe c0. Mr. Ingham SouthWoodchester 5.7.02 S.LBC.177/A Zermi S.A .