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ERCOT Board Approves DAM and RTM Price Corrections
October 14,2020 ERCOT's Board has approved Day-Ahead Market (DAM) and Real-Time Market (RTM) price corrections as follows:
ERCOT Board approval of Day-Ahead Market (DAM) price corrections for Operating Days (ODs) June 8 - 12, 15 – 17, 19 – 20, 24 – 25, 28 – 30, 2020, July 1 – 6, 2020, and Real-Time Market (RTM) price corrections for OD July 1, 2020 DAYS AFFECTED: June 8 - 12, 15 – 17, 19 – 20, 24 – 25, 28 – 30, 2020, and July 1 – 6, 2020 DESCRIPTION: On July 8, 2020, ERCOT informed Market Participants that DAM and RTM prices were under investigation for ODs June 8, 2020 through July 7, 2020. Therein, ERCOT notified Market Participants that certain transformer ratings were erroneously modeled in DAM and RTM. ERCOT informed Market Participants that it would correct prices for DAM OD July 7, 2020, before they became final. ERCOT further noted that it would likely seek review of DAM and RTM prices for various ODs between June 8, 2020 and July 6, 2020, by the ERCOT Board of Directors (Board). See Market Notice M- A070820-01. On August 26, 2020, ERCOT issued Market Notice M-A070820-02 notifying Market Participants that Day-Ahead Settlement Point Prices (DASPPs), DAM Market Clearing Prices for Capacity (MCPCs), and DAM Locational Marginal Prices (LMPs) for ODs June 8 - 12, 15 – 17, 19 – 20, 24 – 25, 28 – 30, 2020, and July 1 – 6, 2020, and Real-Time Settlement Point Prices (RTSPPs), Real-Time Price for Energy Metered for Resources (RTRMPRs), and Real-Time Locational Marginal Prices (LMPs) for Electrical Buses for OD July 1, 2020 were in need of correction, and would be seeking Board review of such prices at the October 2020 Board meeting. On October 13, 2020, the Board reviewed the aforementioned prices for the impacted ODs, determined they were significantly affected by an internal data input error, and directed ERCOT to implement the appropriate price corrections pursuant to ERCOT Protocol Sections 4.5.3(5) and 6.3(6). See Urgent Board of Directors Meeting (October 13, 2020), Agenda Item 7.1. Board approval of these price corrections necessitate the issuance of DAM and RTM Resettlement Statements. Market Notices will be posted for each DAM and RTM resettlement in accordance with ERCOT Protocol Sections 9.2.6 and 9.5.7.
ERCOT Board approval of Day-Ahead Market (DAM) price corrections for Operating Days (ODs) August 20, 21, and 23, 2020 DAYS AFFECTED: August 20, 21, and 23, 2020 DESCRIPTION: On August 27, 2020, ERCOT informed Market Participants that DAM prices for ODs August 20, 21, and 23, 2020, were impacted by an internal data input error related to the modelling of a Remedial Action Scheme (RAS) in the DAM. ERCOT also notified Market Participants that ERCOT would be seeking ERCOT Board of Directors (Board) review of Day-Ahead Settlement Point Prices (DASPPs), DAM Market Clearing Prices for Capacity (MCPCs), and DAM Locational Marginal Prices (LMPs) for those ODs. See Market Notice M-A082720-01. On October 13, 2020, the Board reviewed DASPPs, DAM MCPCs, and DAM LMPs for ODs August 20, 21, and 23, 2020; determined that these prices were significantly affected by an internal data error; and directed ERCOT to implement the appropriate price corrections pursuant to ERCOT Protocol Section 4.5.3(5). See Urgent Board of Directors Meeting (October 13, 2020), Agenda Item 7.2. Board approval of these price corrections necessitate the issuance of DAM Resettlement Statements. A Market Notice will be posted for each DAM resettlement in accordance with ERCOT Protocol Section 9.2.6.
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