NOTICE DATE:  August 26, 2011                     

NOTICE TYPE:  M-C082611-01 CRR

SHORT DESCRIPTION:  October 2011 Monthly CRR Auction

INTENDED AUDIENCE:  CRR Account Holders

DAYS AFFECTED:  August 26 – September 9, 2011

LONG DESCRIPTION:  Credit Submission for the October 2011 Monthly Congestion Revenue Right (CRR) Auction began at 00:00:01 CPT on August 26, 2011, and will close at 17:00:00 CPT on September 6, 2011.

Per Section 7.5.2(3) of the ERCOT Nodal Protocols, ERCOT will enforce a volume limitation of 10,000 market transactions (bids and offers) per account holder. The CRR Auction Bid window opens at 00:00:01 CPT on September 7, 2011, and closes at 17:00:00 CPT on September 9, 2011.

Per Section 7.5.2(3)(c), if the total number of bids submitted for the auction exceeds 200,000, a second round of bid submissions will be required. CRR Account Holders will be notified via Operator Message. Account Holders whose bids and offers exceed the maximum number of allowable bids/offers determined for the second round will have their portfolios removed from the auction and will be required to resubmit a new portfolio with the total number of bids less than or equal to the second round bid limit.

The current bid/offer limit for the second round of the October 2011 Monthly CRR Auction is set at 1119. Note that Nodal Protocol Revision Request (NPRR) 376, CRR Volume Limitation Enhancements, is expected to go into effect on September 6, 2011, which is the Credit Lock Date for this auction. NPRR376 establishes that CRR Account Holders are not included in the CRR transaction volume limitation process if they do not own open CRR positions or have credit allocated to the CRR Auction. Should a second round auction be necessary, the bid/offer limit will be recalculated after credit lock to accommodate only those CRR Account Holders who have open positions or have credit allocated to the auction.

All correspondence regarding the bid limits and second round re-calculations will be sent directly to Market Participants via the messaging facility in the application.

This second auction, if needed, will be open from 18:00:00 CPT on September 9, 2011, until 17:00:00 CPT on September 12, 2011.

ADDITIONAL INFORMATION:  The Baseload CRRs used for the October 2011 Monthly CRR Auction may be found in the Monthly Auction Notice folder on the CRR Market Information System (MIS) site at https://mis.ercot.com/pps/tibco/mis/Pages/Market+Information/CRR and on the CRR webpage of ERCOT.com at http://www.ercot.com/mktinfo/crr/.

Specifications for the equipment and interfaces necessary to participate in the CRR Auction are included in the CRR Market User Interface Specifications document, which may also be found on the CRR MIS site and on the CRR webpage of ERCOT.com.

The ERCOT Board-approved values for A and M as referenced in Nodal Protocols Section 7.5.5.3(1)(a)(iii) are currently set at $.75/MWh and 0 respectively.

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 the ERCOT CRR Team via email at [log in to unmask].

If you are receiving email from an ERCOT distribution list that you no longer wish to receive, please follow this link in order to unsubscribe from this list: http://lists.ercot.com.

 

 

 

 

 

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