In a footnote to a petition to the Public Utility Commission of Texas which seeks a resettlement of the ERCOT market due to incorrect transmission line ratings (see EnergyChoiceMatters.com story today), Raiden Commodities, L.P. urged the PUCT to investigate whether information asymmetry which occurred during the period of incorrect ratings led to market manipulation

Raiden alleged that on May 18, 2015 ERCOT received incorrect dynamic line ratings for line 6510A telemetered from the TSP. Raiden alleged that, "ERCOT has publicly admitted to relying on incorrect line rating data on May 18, 2015, for a transmission line in west Texas (Equipment ID 6510 A from station ID CRM8T to GLNHV) to determine the least cost generation facilities necessary to reliably meet the anticipated physical load during at least the intervals HE11 - HE 17."

Moreover, Raiden alleged that, in explaining this issue, Oncor, "stated that they had been supplying the incorrect line ratings for many weeks."

The prolonged period of incorrect line ratings prompted Raiden to, "urge[] ERCOT and the PUCT to investigate whether the false line ratings led to market manipulation."

"As part of the public explanation, Oncor stated that they had been supplying the incorrect line ratings for many weeks. It is highly probable this information was known to some, but not all, Market Participants who may have taken advantage of the situation by removing capacity from the system and that they essentially got 'caught' on May 18th," Raiden alleged

Raiden did not expand on its conclusions concerning such speculated behavior