NOTICE DATE: June 23, 2023

NOTICE TYPE: M-C030923-03 Operations

SHORT DESCRIPTION: ERCOT Board approval of Day-Ahead Market (DAM) price corrections for certain Operating Days (ODs) between Feb 10, 2023 and Mar. 8, 2023

INTENDED AUDIENCE: All Market Participants

DAYS AFFECTED: Feb. 10, 2023 – Mar. 8, 2023

LONG DESCRIPTION: On March 9, 2023, ERCOT informed Market Participants that Real-Time Market (RTM) prices and DAM prices were impacted by Controllable Load Resources (CLRs) associated with Energy Storage Resources (ESRs) incorrectly being included in RTM and DAM Load Zone price calculations and DAM Load Distribution Factors. ERCOT further stated that it would seek ERCOT Board of Director (Board) approval for price correction for any of the effected ODs that met criteria, according to ERCOT Protocol Sections 4.5.3(6)(b) for the DAM and 6.3(7)(b) for the RTM. See Market Notice M-C030923-01.

Upon completion of the impact analysis, ERCOT determined that zero RTM ODs and 16 DAM ODs met criteria for significance for seeking Board approval for price correction. See Market Notice M-C030923-02.

On June 20, 2023, the Board reviewed Day-Ahead Settlement Point Prices (DASPPs) and Day-Ahead Market Clearing Prices for Capacity (DAMCPCs), determined that these prices were significantly affected by CLRs associated with ESRs being included in the calculation of Load Distribution Factors and directed ERCOT to implement the appropriate price corrections pursuant to ERCOT Protocol Section 4.5.3(6). See Board of Directors Meeting (June 20, 2023), Agenda Item 13.1.

Board approval of these price corrections necessitate the issuance of DAM Resettlement Statements. A Market Notice will be posted for the DAM resettlement in accordance with ERCOT Protocol Section 9.5.7.

ADDITIONAL INFORMATION: The corrected prices are posted in both CSV and XML formats under the DAM Price Corrections section of the Market Prices on ERCOT.com.

CONTACT: If you have any questions, please contact your ERCOT Account Manager. You may also call the general ERCOT Client Services phone number at (512) 248-3900 or contact ERCOT Client Services via email at [log in to unmask].

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