ISO Course Outline. Market Transactions Class

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1 ISO Course Outline Purpose Market Transactions Class This two-day training class is intended to be one of the cornerstones of the market training program and is designed to review the market concepts and to apply practical examples of market transactions the Day-Ahead Market and Real-Time market. Audience This course is recommended for those individuals who require information regarding how to bid or schedule supply and demand into the ISO markets. The intended audience for this class is any participant new to the ISO Markets or new employees of existing Market Participants who would be responsible for front-office operations such as power procurement, scheduling or market or scheduling activities. Primary target audience would include energy traders, pre-schedulers, schedulers, and grid personnel, settlement analysts, or anyone interested in a working knowledge of the market rules and settlement validation in the CAISO markets. Course Title: Market Transactions Course Topics Market Transactions: Overview of day-ahead and real-time market processes Registering resources Business rules of bidding and scheduling into the dayahead and real-time markets Acquiring and interpreting market results Maintenance and outages Inter-SC trades Post market overview and timelines 2-Settlement system LMP overview Course Description: This course provides an in-depth overview of the market associated with the ISO day-ahead and real-time markets and presents and introduction to energy settlements. This course offers a workshop type of classroom environment in which the participants builds an understanding of the key market rules associated with bidding and scheduling in the ISO markets. In addition, the course also covers the post market processes that

2 Pre-Requisite: Offering: lead into the processing of settlement statements. Introduction to the California ISO Market. Quarterly Module Topics and Objectives By the end of this class, you will be able to: Describe the market timelines and processes Describe the inputs into the day-ahead and real-time markets Describe the structure of energy bid curves for supply and demand Describe the purpose of an Inter-SC Trade Day 1 Who is the California ISO? Purpose of the California ISO Products and services the ISO procures Wholesale Energy Procurement Long-term and short-term contracts Bilateral contract and scheduling process Defining Market Transactions Different types of bids Categories of data in the day-ahead market Requirements for the day-ahead market Master file Proxy Bids Ancillary service requirements Market Participation Portal Scheduling infrastructure and business rules application. Applications participants use to find market results. SIBR, SLIC, CMRI, BAPI Master File Resources Market participant portal Pmin and Pmax Best and worst ramp rates Minimum load cost and minimum run times

3 Submitting Bids for Energy Physical Resources & Virtual Resources Submit bids into the day-ahead market Hourly bid components Virtual demand bids Information included in a daily bid Structure of Energy Bid Curves, Supply and Demand Energy supply and demand Submit SLIC tickets using SLIC application from portal Minimum bid volume Self-Scheduling Key Concepts When Submitting Bids Hourly bid components of ancillary services Entering bids in the residual unit commitment process Scheduling Infrastructure Business rules application Applications accessible through the market participant portal Day-Ahead Market Timeline and Processes MPM Process IFM process RUC Settlement Overview for Non-Settlement People Attributes of a supply bids Inputs that are used in the day-ahead market Real time performance Market results Locational Marginal Pricing Locational marginal pricing Marginal cost of congestion Marginal cost of losses Inter-SC Trades for Energy Inter-SC Trades Aggregate price node (APN) Physical (PHY) trade Calculate the settlement of an APN trade

4 Day 2 Real-Time Market Overview Bidding and scheduling requirements for the real-time market Requirements of resources with RA obligation and RUC awards Daily bid components Hourly bid components Market Rules for RA resources Bidding into the real-time market Real-Time Ancillary Services Bids and Self Provision of Ancillary Services Real-Time ancillary services bids and self-provision Data used in the facilitation of the real-time market Real-Time Market Process and Timeline Hour ahead scheduling process (HASP) process Short term unit commitment (STUC) process Services dispatched by real time unit commitment (RTUC) Real-Time Economic Dispatch Contingency dispatch Exceptional dispatch 5-minute balancing energy dispatches E-Tagging ISO Market Awards NERC/WECC tagging requirements Required token/value Pairs E-Tagging templates Market award information Static interchange schedules Dynamic interchange schedules Using multiple types of transmission rights on same resource ID Automated Dispatch System (ADS) Interface Real-time binding instructions Dispatch of non-dynamic system resources (from HASP) Contingency and exceptional dispatches Virtual Bids in Real-Time Market Virtual awards from the day-ahead market

5 Virtual awards at the inter-ties Virtual awards at the internal notes Post Market Process Meter data submission Settlement quality metered data OMAR meter data submission Initial settlement statement Recalculation settlement statement Key Settlement Charge Codes And Settlement Overview Day-ahead market 6011 / 6013 HASP energy 6051 Real-time instructed imbalance energy 6470 / 6473 Real-time uninstructed imbalance energy 6475 Charge Code 6011 Day-Ahead Energy, Congestion and Losses Day ahead settlements Deviations from the day ahead schedule Non-participating demand Imports and exports Charge Code 6051 HASP Energy, Congestion and Losses Non-dynamic system resources Binding dispatches Charge Code 6470 Operational Adjustments Non-dynamic system resources Operational adjustments Charge Code 6470 Real Time Instructed Imbalance Energy Instructed and uninstructed imbalance energy Real Time changes associated with non-participating demand (Load) Charge Code 6475 Real Time Uninstructed Imbalance Energy Instructed and uninstructed imbalance energy Payment for positive UIE surplus energy Charge for negative UIE replacement energy Non-participating demand Meter data Settlements Timeline and Invoicing and Payment Advices Initial settlement statement

6 Recalculation settlement statement Unscheduled recalculation settlements statements Dispute Timeline Settlement dispute system Sunset provision Final true-up statements Convergence Bidding Transactions Virtual transactions Virtual awards Virtual demand Virtual supply Benefits of convergence bidding at the nodal level Convergence Bidding Transactions Market Rules Eligible bidding locations Price node Aggregate pricing node Default load aggregation points Trading hub locations Convergence Bidding in the Market Day-ahead market positions Liquidating in the real-time market Bidding rules for virtual bids Congestion Revenue Rights (CRR) Settlement Rule Defining congestion revenue rights (CRRs) Participant relationships CRR settlement rule Grid Management Charge Physical and Virtual 2012 grid management charge Bid segment fee SCID Fee

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