NOTICE DATE:  December 11, 2014

NOTICE TYPE:  W-A121114-01 Settlements

SHORT DESCRIPTION:  ERCOT Board approval of price corrections for some Settlement Points in Real-Time Market (RTM) Affected by a System Error for Operating Days October 6-17, 2014

INTENDED AUDIENCE:  QSE and CRRAH Settlement Personnel

DAY AFFECTED:  October 6, 2014 – October 17, 2014

LONG DESCRIPTION:  On October 21, 2014, ERCOT staff posted a notice to the Market Information System (MIS) Public Area indicating that Security-Constrained Economic Dispatch (SCED) prices were under investigation. As a result of this investigation, ERCOT staff identified an issue related to the implementation of Nodal Protocol Revision Request (NPRR) 485, Clarification for Fuel Adder Provisions, on October 6, 2014. Because of a system error, the new fuel adder that NPRR 485 required ERCOT to apply to Mitigated Offer Curves (MOC) for Resources having Verifiable Costs was incorrectly set to zero, resulting in a reduced MOC for these Resources. The lower MOCs impacted Real-Time Settlement Point Prices for some Settlement Points. The error was identified and fixed on October 17, 2014 and impacted many Settlement Intervals from Operating Day October 6, 2014 at 0000 through October 17, 2014 at 1500.

Because of this error, ERCOT Staff recommended that the ERCOT Board of Directors authorize a correction of all affected Settlement Point Prices.  The ERCOT Board considered the recommendation at its meeting on December 9, 2014 and approved the price correction. All supporting documents are located at ERCOT - Board of Directors Meeting (December 9, 2014) under Agenda Item No.8.

ADDITIONAL INFORMATION: The corrected Settlement Point Prices will be posted in both CSV and XML formats in the RTM Price Corrections folder located at http://www.ercot.com/mktinfo/prices/.

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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