Executive Summary

The big issues at WMS were NPRR1092 (lowering of RUC offer floor) which remains tabled at WMS for further discussion at WMWG, thought there is much opposition lined up against it, and NPRR1088 (Adjusting collateral for traders), which remains at MCWG.  Also noteworthy is that Friday Nov 12th is the day of record for ERCOT membership for upcoming votes.

Agenda

• ERCOT Meeting Page

Notes

• Proxy bid curve for load resource deployment was remanded to WMWG
• NPRR1091 tabled at WMS for further discussion at WMWG
• NPRR1092 tabled at WMS for further discussion at WMWG, but there was a lot of discussion.  Some concern that $75 was too low with $6 gas, suggestion that it should be put at the end of the stack, but IMM reminded that with batteries offering at the cap, the end of the stack is the cap.  IMM expressed interest in full discussion for one month only at WMWG to get it moving along.  Also a lot of concern that this shouldn’t be discussed until the commission makes the big market changes.  Also suggested that removing RUC opt-out might provide perverse incentive for resources to remain ON until last minute to maintain optionality. 
• Discussion of study being performed by ERCOT to see if there is a problem with single location batteries providing a lot of RRS being a single point of failure. 
• SCR816 will have some cost due to need to fix a trigger.
• MCWG looked at default uplift practices at other ISOs, everyone else uses dollar weighted rather than MWh weighted, consensus to follow that method, as ERCOT’s current method allocates too much to CRRs.
• Discussion of NPRR1088 which would change collateral calculation for trading only counterparties.  There will be more discussion at MCWG.
• No action was taken on OBDRR026 (shadow price curves).  
• ERCOT reported on manual overrides taken on resources to maintain the system during the February event, where there was a line that was coming close to its Relay Loadability Rating.
• Chad Thompson from ERCOT gave an update on the Gas Electric Working Group meeting, which was essentially that nothing happened there.  In particular, no one seems inclined to commit to give ERCOT information about gas supply issues as they are happening or threatening.
• Friday Nov 12th is ERCOT membership date of record.

Discussed Issues

• Load Resources supplying NonSpin
• Proxy Bid Curve for load resource deployment
• NPRR1092 Reduce RUC Offer floor and remove RUC Opt Out
• NPRR1088 Make credit requirements easier for traders
• Default Uplift Methodology