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Proposed Revision Request Detail Help
PRR Life Cycle*********Closed
PRR Details
PRR #
1505
Title Refinements to penalty pricing improvements identified from last summer
Date Submitted 4/24/2023 9:32 AM
PRR Category A
Priority Emergency
Owner Martin, Michael (CAISO)
Status Closed
Status End Date 7/19/2023 11:59 PM
Related BPM Market Operations
BPM Section 6.6.5 and 6.7.2.6
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Existing Language

See attached

Proposed Language

See attached​

Reason For Revision

This contains several refinements to penalty pricing as a result of issues and improvements identified from last summer performance.

The PRR contains adjustment to penalty parameters in the real time markets for low priority exports with and without RUC schedules, to comply with tariff section 34.12.1.

It also includes changes to penalties prices in the real time markets on Tagged Quantity for import and exports, EIM base scheduled import and export, and Exceptional Dispatch for Tie Generators, to ensure the intertie transmission limits are respected. ​

Effective date: May 8th, 2023

Click here to view the Recommendation Details for this PRR
BPM PRR Submitter

Martin, Michael (CAISO)
Modified BPM language proposed by the PBM Chnage Management Coordinator

​Approve the BPM PRR as submitted

Identification of the authorship of comments

Action

Approve the BPM PRR as submitted

Approve
Statement of apparent requirements of the BPM PRR

NA
Priority and rank for any BPM PRR requiring a CAISO system change

NA
Proposed effective date(s) of the BPM PRR

May 8 2023
Other recommended actions

NA
Click here to view the Final Decision for this PRR
Final Decision

Approve original
Stakeholder Comment



Effective Date

5/8/2023
Action

Adopt the recommendation as originally issued

Effective date May 8, 2023
Announcements
Additional note:  This changes was introduced in the Market Performance Forum  discussed publicly on December 14, 2022. You can find that topic in slides #6-9.

https://www.caiso.com/Documents/Presentation-MarketPerformancePlanningForum-Dec14-2022.pdf
Posted On - 5/8/2023 7:28 AM
Please note the CAISO has changed this PRR to an Emergency status with an effective date of May 8, 2023.   These penalty price changes are desired in-effective before summer high-load conditions.  This PRR will still complete the fully Initial and Recommendation phases and comments are welcome.
Posted On - 5/2/2023 9:02 AM
Impact Analysis
PRR Impact Analysis Form_PRR1505_GBA.doc    
Notes:
Initial Comments
Presentation-MarketPerformancePlanningForum-Dec14-2022.pdf    
SRP appreciates the opportunity to comment on PRR 1505.  SRP is requesting clarification on the following items after reviewing the BPM changes and CAISO Market Performance and Planning Forum December 14, 2022 slide deck - http://www.caiso.com/Documents/Presentation-MarketPerformancePlanningForum-Dec14-2022.pdf
• The new “Proposed” penalty prices on Slide 9 do not all match the penalty prices in the BPM.  Please clarify why there were changes from the slide deck.
• SRP would like more information on the case in production that occurred that led to the need to adjust the penalty prices down from where they are currently.
• What is the difference between “tagged quantity” and “EIM Base Scheduled”?  Is this referring to whether or not there is a tag supporting the base schedule?
• If there were any tests or case studies completed to validate the new penalty prices, SRP would be interested in reviewing the results to understand the implications before and after.
5/16/2023 5:42 PM
Logged By - Jerret Fischer (SRP)
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Since the original discussion, CAISO has further tuned the penalty prices and in order to account for the impact of marginal losses, it  adjusted some of the penalty prices. The specific values do ot change the intend of the sequencing of priorities.
-For a reference of an actual case, please refer to the original policy proposal where this dynamic is fully explained.
-Tagged quantity is an intertie record coming into the CAISO market already tagged. EIM base schedule is a record for the base schedules submitted by WEIM participant.
-Please refer to the original discussion of the policy paper and also to the December MPP material where the specific mathematical relationship is explained.
5/23/2023 10:58 AM
Responded By - Costa, Christina (CAISO)
Recommendation Comments
No Recommendation Comments available for this PRR.
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