Congestion Revenue Rights Document Version: 3.1
MUI Handbook ERCOT Public
ERCOT Nodal Market:
Congestion Revenue Rights System
Market User Interface Handbook
October 8, 2014
Version 3.1
DOCUMENT REVISIONS
Date / Version / Description / Author(s)4/23/07 / 0.1 / Initial version / Energy Solutions, Nexant
5/31/07 / 0.2 / Update with new modules, features and functionalities / Energy Solutions, Nexant
8/01/07 / 0.3 / Include CRR Available Credit Limit Functionality / Energy Solutions, Nexant
8/22/07 / 0.4 / Include Counter-Party CRR Available Credit Limit Functionality, Update the document accordingly / Energy Solutions, Nexant
8/28/07 / 0.5 / Review and update document / Energy Solutions, Nexant
10/08/07 / 0.6 / Update document to reflect all ERCOT customization / Energy Solutions, Nexant
10/20/07 / 0.62 / Update bilateral market and credit managers / Energy Solutions, Nexant
11/30/07 / 0.99 / Update based on ERCOT feedback / Software and Information Systems, Nexant
12/13/07 / 1.0 / Final version / Software and Information Systems, Nexant
12/18/07 / 1.0 / Updated the footer & the header / Software and Information Systems, Nexant
9/15/09 / 1.1 / Merged Nexant Slides and addressed Traceability concerns in with the current manual. Also added instructional references to MUI Web-based Training available on LMS. / ERCOT Staff
11/2/2009 / 1.2 / Removed mentions of McCamey Area Flowgate Rights throughout document. And added note about rounding behavior for nominations. / ERCOT Staff
12/3/2009 / 1.3 / Added sections under the ERCOT CRR Market Overview. Edited content, washed screen captures, checked hyperlinks, finalized document. / ERCOT Staff
01/04/10 / 1.4 / Revised per review by SReedy / ERCOT Staff
01/07/10 / 2.0 / Updating revision after review / ERCOT Staff
1/11/10 / 2.1 / Resolved formatting issues from tracked changes, added explanation of “drop arrow, Updated Headers for Doc. Version / ERCOT Staff
1/26/10 / 2.2 / Upldated bilateral trade language to include the 7-day trade limit. / ERCOT Staff
2/3/2010 / 2.3 / Added note re: keypad failure on Nominations Editor screen; added 20 char limit for telephone number in bilateral trade contact information window. / ERCOT Staff
3/1/2010 / 2.4 / Added behavior of the Bilateral Trades in sucessful/unsuccessful bids. / ERCOT Staff
10/19/2010 / 2.5 / Added links to section 2.2a for NOIE allocation eligibility forms. / ERCOT Staff
10/26/2010 / 2.6 / Added credit parameter values A and M, per Board approval. / ERCOT Staff
3/4/2011 / 2.7 / Added reference to the Bid24Hour column in the Common and Private Auction Results downloadable files. / ERCOT Staff
5/3/2011 / 2.8 / Added steps for Round 2 Auction / ERCOT Staff
7/25/2014 / 3.0 / Full review of the document to remove unessential and outdated information. / ERCOT Staff
10/8/2014 / 3.1 / Minor updates to align the document with NPRR 586 implementation. / ERCOT Staff
TABLE OF CONTENTS
1. Introduction 1
1.1. Organization of This Document 2
1.2. Target Audience 3
1.3. Supporting Documentation and Training 4
2. ERCOT CRR Market Overview 5
2.1. CRR Account Holder Registration and Qualification 6
2.2. CRR Non Opt-In Entity (NOIE) Qualification 7
2.2.a. Qualification for NOIE Allocation Eligibility 7
2.2.b. Annual Validation of NOIE Eligibility 7
2.3. CRR Allocation and Auction Time Lines 8
2.4. Categories of CRRs 10
2.5. CRR Attributes 11
2.6. CRR Hedge Types 12
2.6.a. Obligations and Options 12
2.6.b. Flowgate Rights 12
2.7. CRR Clearing Prices 13
3. CRR System Overview 14
3.1. CRR System Components 15
3.2. ERCOT Portal Web Site 16
3.2.a. Portal Access and Navigation 16
3.3. Overview of Account Holder User Interface Functions 17
3.4. Document Upload/Download Specifications 19
4. Auction Portfolio Manager: Managing Auction Portfolios 20
4.1. Auction Portfolio Flow 21
4.2. Auction Portfolio List Page 22
4.2.a. Functionality 22
4.2.b. Auction Portfolio List Data Fields 23
4.2.c. Auction Portfolio List Buttons 23
4.2.d. Usage 24
4.3. Auction Portfolio Editor Page 25
4.3.a. Functionality 25
4.3.b. Auction Portfolio Editor Data Fields 26
4.3.c. Usage 27
5. Nominations Manager: Managing Nominations 29
5.1. Nominations Flow 30
5.2. Nomination General Tab 31
5.2.a. Functionality 31
5.2.b. Nomination General Page Data Fields 32
5.3. Capacity and Refund Tab 33
5.3.a. Functionality 33
5.3.b. Capacity and Refund Page Data Fields 34
5.3.c. Usage 35
5.4. Baseloads Tab 37
5.4.a. Functionality 37
5.4.b. Baseloads Page Data Fields 38
5.4.c. Usage 39
5.5. Results Page 41
5.5.a. Functionality 41
5.5.b. Results Page Data Fields 42
5.5.c. Usage 43
6. Messages Manager 44
6.1. Messages Manager Flow 45
6.2. Message Board Page 46
6.2.a. Functionality 46
6.2.b. Messages Board Data Fields 47
6.2.c. Usage 47
7. Downloads Manager: Managing Downloads 48
7.1. Downloads Manager Flow 49
7.2. Downloads Page 50
7.2.a. Data Fields 51
7.3. Private General Tab 52
7.3.a. Functionality 52
7.4. Private Market Results Tab 53
7.4.a. Functionality 53
7.5. Common General Tab 54
7.5.a. Functionality 54
7.6. Common Network Tab 55
7.6.a. Functionality 55
7.7. Common Market Tab 57
7.7.a. Functionality 57
7.8. Common Market Result Tab 59
7.8.a. Functionality 59
8. Credit Limit Manager 61
8.1. Account Holder Credit Limit Manager 62
8.1.a. Functionality 62
8.1.b. Credit Limit Editor Data Fields 63
8.1.c. Usage 63
8.2. Counter Party Credit Limit Manager 65
8.2.a. Functionality 65
8.2.b. Credit Limit Editor Data Fields 66
8.2.c. Usage 66
9. Bilateral Market 67
9.1. Bilateral Market Action and Events Flow 68
9.2. Bilateral Market Manager 69
9.2.a. Functionality 69
9.2.b. Data Fields 70
9.3. Bilateral Market Manager – My Trades 72
9.3.a. Functionality 72
9.3.b. Private CRR page Data Fields 72
9.3.c. Usage 74
10. Appendix: Market Participant Questions and Answers 83
LIST OF FIGURES
Figure 1: CRR System, its Components & Interfaces with other ERCOT Systems 15
Figure 2: MUI Account Holder Menu Headings 17
Figure 3: Main AH User Interface Tabs and Functionalities 18
Figure 4: Auction Portfolio Flow 21
Figure 5: Auction Portfolio List Page 22
Figure 6: Auction Portfolio List Page Functionality Summary 23
Figure 7: Auction Portfolio Editor Page 25
Figure 8: Auction Portfolio Editor Page Panes 26
Figure 9: Flow Diagram for Nominations Manager 30
Figure 10: Nomination General Page 31
Figure 11: Nomination General Page Functionalities 32
Figure 12: Cap & Refund Page 33
Figure 13: Cap & Refund Page Functionalities 34
Figure 14: Baseloads Page 37
Figure 15: Baseloads Page Functionalities 38
Figure 16: Results Page 41
Figure 17: Results Page Functionalities 42
Figure 18: Flow Diagram for Messages Manager 45
Figure 19: Message Board Page 46
Figure 20: Message Board Page Functionalities 47
Figure 21: Flow Diagram for Downloads Manager 49
Figure 22: Downloads Manager Page 50
Figure 23: Private General Tab Functionalities 52
Figure 24: Private Market Results Tab Functionalities 53
Figure 25: Common General Tab Functionalities 54
Figure 26: Common Network Tab Functionalities 55
Figure 27: Sample Network File 56
Figure 28: Sample Common Market Tab 57
Figure 29: Common Market Results Tab Functionalities 59
Figure 30: Credit Limit Editor Page 62
Figure 31: Credit Limit Editor Page Functionalities 63
Figure 32: Timing of the Credit Limit Lock Date 64
Figure 33: Credit Limit Editor Page 65
Figure 34: Counter-Party Credit Limit Editor Page Functionalities 66
Figure 35: Bilateral Market Actions & Events Flow 68
Figure 36: Bilateral Market Page 69
Figure 37: Bilateral Market Postings Tab Functionalities 70
Figure 38: Bilateral Market My Trades Tab 72
Figure 39: Posting a Bid- Steps 1-6 75
Figure 40: Posting a Bid – Steps 7-9 76
Figure 41: Posting a Bid – Steps 10-12 77
Figure 42: Responding to a Bid – Steps 13-14 78
Figure 43: Posting a Offer – Steps 1-5 79
Figure 44: Posting a Offer – Steps 6-8 80
Figure 45: Responding to a Offer – Steps 9-10 81
Figure 46: A Pending Transaction on My Trades Tab 81
Figure 47: A Pending Transaction on My Postings Tab 82
COPYRIGHT NOTICE
The contents of this document are protected as unpublished copyrighted works, Copyright, Nexant, Inc., 2006-2014 & ERCOT Inc., 2014. All rights reserved.
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© 2006-2014 Nexant, Inc. and © 2014 Electric Reliability Council of Texas, Inc. All rights reserved
Congestion Revenue Rights Document Version: 3.1
MUI Handbook ERCOT Public
1. Introduction
The intent of this ERCOT CRR Market Participant Handbook is to provide ERCOT Congestion Revenue Rights (CRR) Market Participants, i.e. Account Holders (AHs) and Counter-Parties (CPs), with an introduction to the ERCOT CRR System and its user interfaces, namely the Market User Interface (MUI). The MUI subsystem is a web-based system and allows ERCOT AHs and CPs to manage all of their ERCOT CRR market activities, including but not limited to nominations for allocations and bids and offers for auctions, managing credit, submitting portfolios for ERCOT allocations and auctions, following market activities and results, as well as downloading market results and market-related data files. This handbook also describes the user interface capabilities and the functional features of the Bilateral Market.
As such, this handbook is not intended to be a complete reference source of information about the ERCOT CRR System, its interfaces, or any of its other component subsystems. Nor is this user handbook intended to provide any guidance with respect to nomination and bidding strategies in the ERCOT CRR allocations and auctions respectively. There are several other resources available to Market Participants that, in combination with this Handbook, will provide AHs and CPs with a sound foundation from which they may participate in the ERCOT CRR auction/allocation market. Refer to the Supporting Documentation section of this document for a list of these resources.
1.1. Organization of This Document
This Handbook is organized into chapters, which cover the following topics:
· Chapter 2 gives an overview of the ERCOT CRR Market, timelines and activities, and the steps AHs must take to participate.
· Chapter 3 provides an overview of the CRR system and the portal website.
· Chapter 4 explains in detail how the AHs manage their auction portfolios.
· Chapter 5 explains in detail how AHs who are Non-Opt-In Entities (NOIEs) manage their allocation nominations.
· Chapter 6 introduces the functionalities of the Messages Manager.
· Chapter 7 covers the functionalities under the Downloads Manager.
· Chapter 8 explains the CRR ACL Editor and its functionalities for both AHs and CPs.
· Chapter 9 explains ERCOT’s Bilateral Market features and how to use them to trade CRRs using ERCOT’s Bilateral Market.
· An appendix provides a compilation of questions from Market Participants and the answers to those questions.
1.2. Target Audience
This Handbook is intended for use by ERCOT CRR System AHs and CPs to aid them in performing the following tasks:
· Viewing and downloading the files that contain common information related to current allocations and auctions
· Viewing common messages
· Viewing and downloading private information such as AH specific CRR bids, offers, and auction results
· Viewing private messages
· Managing their allocation nominations and auction transactions
· Utilizing the Bilateral Market for trading CRRs with other registered CRR AHs
· Managing the CRR available credit limits
The AHs and CPs are assumed to be familiar with the concepts of CRRs and CRR modeling. For more information on CRRs, the AHs and CPs are encouraged to also review ERCOT’s documentation on CRRs at www.ercot.com.
Please note that private and common pages and data referred to in this document relate to functionalities and features of the ERCOT CRR System and are different from the Public and Secure areas of the ERCOT Market Information System (MIS) as defined in the Nodal Protocols.
1.3. Supporting Documentation and Training
Name and Description / LocationStandard Form Market Participant Agreement / http://www.ercot.com/services/rq/index.html
CRR Account Holder Application for Registration
Form used by Market Participants to register as a CRR AH with ERCOT. An application fee is also required. / http://www.ercot.com/services/rq/crr/index
NOIE Allocation Eligibility Form
Form used by NOIEs wishing to participate in Pre-Assigned CRR (PCRR) Allocations. / http://www.ercot.com/services/rq/crr/index
NOIE Load Zone Establishment Form
Form used by eligible NOIEs wishing to be considered as NOIE Load Zones. / http://www.ercot.com/services/rq/lse/
CRR Market User Interface Specifications
This document describes data items relevant to the CRR market that are submitted or retrieved by Market Participants. / http://www.ercot.com/mktinfo/crr/index.html
Market Notices and Bulletins
ERCOT notifies Market Participants concerning a variety of business and system activities. / http://www.ercot.com/services/comm/mkt_notices/index
Market Participant User Guides
As a service to the market, ERCOT publishes helpful guides on how to use data extracts and applications. / http://www.ercot.com/services/mdt/userguides/index
CRR Training Course Materials
Course material for CRR training provided by ERCOT Staff. / http://www.ercot.com/services/training/course/53#materials
CRR Market User Interface Training
Web-Based Training module available through ERCOT’s Learning Management System (LMS) that explains how to perform common tasks within the CRR MUI application. / https://www.ercottraining.com/lms/default.asp
CRR Activity Calendar
Contains key dates/deadlines relevant to CRR Market activities, including auction notice dates, CRR network model posting dates, auction bid/offer submission periods, PCRR nomination submission periods, and other relevant information. / http://www.ercot.com/mktinfo/crr/index.html
2. ERCOT CRR Market Overview
CRRs are financial instruments that result in a charge or a payment to the owner when the ERCOT transmission grid is congested in the Day Ahead Market (DAM). CRRs may be used as either a financial hedge or a financial investment. When used as a hedge, a CRR locks in the price of congestion at the purchase price of the CRR. When purchased as an investment, it may be used as a financial tool to speculate whether the congestion rent will be greater than the purchase price.
The main purposes of the ERCOT CRR market are to:
· Support a liquid energy market by providing tradable financial instruments for the hedging of transmission congestion charges
· Allow Market Participants to eliminate or greatly reduce the cost uncertainties resulting from transmission congestion charges