California ISO Files Market Redesign With FERC; CEO Terry Winter Hosts MD02 Media Briefing in Washington, D.C.News Editors/Energy Writers FOLSOM, Calif.--(BUSINESS WIRE)--May 1, 2002 The California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). Independent System Operator (ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. ) plans to file its proposed Market Design 2002 (MD02) with the Federal Energy Regulatory Commission The Federal Energy Regulatory Commission (FERC) is the United States federal agency with jurisdiction over electricity sales, wholesale electric rates, hydroelectric licensing, natural gas pricing, and oil pipeline rates. (FERC FERC Federal Energy Regulatory Commission FERC FEMA Emergency Response Capability ) today, Wednesday, May 1, 2002. At the same time, ISO President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Terry Winter is calling on FERC to extend market mitigation MITIGATION. To make less rigorous or penal. 2. Crimes are frequently committed under circumstances which are not justifiable nor excusable, yet they show that the offender has been greatly tempted; as, for example, when a starving man steals bread to satisfy measures due to expire expire /ex·pire/ (ek-spi´er) 1. to exhale. 2. to die. ex·pire v. 1. To breathe one's last breath; die. 2. To exhale. September 30, 2002 that have helped protect consumers from high wholesale power prices since June 19, 2001. The California ISO -- as the impartial Favoring neither; disinterested; treating all alike; unbiased; equitable, fair, and just. operator of the wholesale power grid in the state -- conducts a small portion of the bulk power markets. These are limited to markets used to allocate To reserve a resource such as memory or disk. See memory allocation. space on the transmission lines, maintain operating reserves In power systems, the operating reserve is the generating capacity available to the system operator within a short interval of time to meet demand in case a generator is lost or there is another disruption to the supply. and match supply with demand in real time. Most of the state's energy needs are procured through short- and long-term contracts or generated from power plants owned by utilities and are scheduled the day ahead into the ISO, which is responsible for obtaining energy and reserve capacity to keep the grid in balance closer to when the electricity is consumed con·sume v. con·sumed, con·sum·ing, con·sumes v.tr. 1. To take in as food; eat or drink up. See Synonyms at eat. 2. a. . MD02 is aimed at improving reliability of the ISO grid, establishing better locational signals that encourage power plants to be built where they are needed most, adequately addressing congestion The condition of a network when there is not enough bandwidth to support the current traffic load. congestion - When the offered load of a data communication path exceeds the capacity. on the transmission system and giving the ISO new market power mitigation tools. The ISO's MD02 proposal is consistent with the intent and the specific elements of the Working Paper on Standardized standardized pertaining to data that have been submitted to standardization procedures. standardized morbidity rate see morbidity rate. standardized mortality rate see mortality rate. Transmission Service and Wholesale Electric Market Design issued by the Federal Energy Regulatory Commission. The proposal is similar to many market design elements that the FERC has already approved for other ISOs and Regional Transmission Organizations  This August 2006 is in need of attention from an expert on the subject.Please help recruit one or [ improve this article] yourself. See the talk page for details. (RTOs). The full details of MD02 are found in a series of documents available on the ISO's home page at www.caiso.com.
REMINDER: DC MEDIA BRIEFING TODAY
Wednesday, May 1 1:30 p.m. (EST) MD02 FERC Filing/News Conference
National Press Club Terry Winter, ISO President & CEO
/Holeman Lounge Lorenzo Kristov, Manager of
529 14th Street, NW Market Design
Washington, DC MD02 Project Manager
Call In Access: 877/381-5438 Passcode: ISO News
FERC's current west-wide market power mitigation plan: -- Available Capacity Obligation on Load Serving Entities -- must obtain/disclose resources to meet demand forecasts plus reserves -- Forward Congestion Management and Forward Energy Market -- day ahead integrated market -- Bid Screens and Mitigation -- to control frequency of price spikes -- Damage Control Bid Cap on ISO Markets -- to control magnitude of price spikes -- 12-month Market Competitiveness Index and Pre-authorized Mitigation Provisions -- automatic response to market power abuse -- Penalties for Excessive Uninstructed Deviations -- Residual Day Ahead Unit Commitment -- ISO can require generators to fire up to meet tomorrow's load -- Structure and Timing of Hour Ahead and Real Time Markets -- tweaks market timing -- Real-time Economic Dispatch Using Full Network Model -- Demand Scheduling, Bidding and Settlement -- Point-to-Point Firm Transmission Rights -- Ancillary Services Market run simultaneously with Day-Ahead Congestion & Energy Market MD02-October 1, 2002 Elements: -- Available Capacity Obligation on Load Serving Entities -- must obtain/disclose resources to meet demand forecasts plus reserves -- Forward Congestion Management and Forward Energy Market -- day ahead integrated market -- Bid Screens and Mitigation -- to control frequency of price spikes -- Damage Control Bid Cap on ISO Markets -- to control magnitude of price spikes -- 12-month Market Competitiveness Index and Pre-authorized Mitigation Provisions -- automatic response to market power abuse -- Penalties for Excessive Uninstructed Deviations -- Residual Day Ahead Unit Commitment -- ISO can require generators to fire up to meet tomorrow's load -- Structure and Timing of Hour Ahead and Real Time Markets -- tweaks market timing -- Real-time Economic Dispatch Using Full Network Model -- Demand Scheduling, Bidding and Settlement -- Point-to-Point Firm Transmission Rights -- Ancillary Services Market run simultaneously with Day-Ahead Congestion & Energy Market (Most of the "October 1 Elements" will stay in place as part of the Comprehensive Plan. The Modified Must Offer and the Damage Control Bid Cap would be implemented by October 1, if FERC does not extend its west-wide mitigation plan.) MD02 Comprehensive (implementation to begin April 1, 2003 and conclude fall of 2003): -- Available Capacity Obligation on Load Serving Entities -- must obtain/disclose resources to meet demand forecasts plus reserves -- Forward Congestion Management and Forward Energy Market -- day ahead integrated market -- Bid Screens and Mitigation -- to control frequency of price spikes -- Damage Control Bid Cap on ISO Markets -- to control magnitude of price spikes -- 12-month Market Competitiveness Index and Pre-authorized Mitigation Provisions -- automatic response to market power abuse -- Penalties for Excessive Uninstructed Deviations -- Residual Day Ahead Unit Commitment -- ISO can require generators to fire up to meet tomorrow's load -- Structure and Timing of Hour Ahead and Real Time Markets -- tweaks market timing -- Real-time Economic Dispatch Using Full Network Model -- Demand Scheduling, Bidding and Settlement -- Point-to-Point Firm Transmission Rights -- Ancillary Services Market run simultaneously with Day-Ahead Congestion & Energy Market |
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