draft for discussion day-ahead settlement timeline options commercial operations subcommittee may 23...
TRANSCRIPT
Draft for Discussion
Day-ahead Settlement Timeline Options
Commercial Operations Subcommittee
May 23rd, 2005
Draft for Discussion
DAY 0DayAhead
Day 1Operating Day
Day 4InvoiceDue
Proposed Day-ahead Settlement Timeline - Option 1
Daily Invoice
Day 2Statement and Invoice Issued
Day 3
Invo
ice
Pay
men
ts D
ue
Operating Day = Monday
DAM Settlement Statement for operating day Monday is scheduled to be posted by midnight Tuesday.
DAM Invoice for operating day Monday is scheduled to be posted by midnight Tuesday.
Payments due to ERCOT for the DAM Invoice for operating day Monday are due to ERCOT by 5:00 p.m. CPT on Thursday
Funds owed to Invoice Recipients are due to them by 5:00 p.m. CPT on Friday.
Su
nd
ay
Mo
nd
ay
Tu
esd
ay
We
dn
esd
ay
Th
urs
da
y
Invo
ice
Fun
ds P
aid
Frid
ay
Day 5 or next Business Day
Draft for Discussion
Proposed Day-ahead Settlement Timeline - Option 2
Operating Day = Monday
DAM Settlement Statement for operating day Monday is scheduled to be posted by midnight Tuesday.
DAM Invoice for operating day Monday is scheduled to be posted by midnight Tuesday.
Payments due to ERCOT for the DAM Invoice for operating day Monday by 5:00 p.m. CPT on Friday.
Funds owed to Invoice Recipients are due to them by 5:00 p.m. CPT on Monday.
DAY 0DayAhead
Day 1Operating Day
Day 2Statement and Invoice Issued
Day 3
Su
nd
ay
Mo
nd
ay
Tu
esd
ay
We
dn
esd
ay
Th
urs
da
y
Invo
ice
Fun
ds P
aid
Frid
ay
Mo
nd
ay
Day 6 or next Business Day
Day 5InvoiceDue
Daily Invoice
Invo
ice
Pay
men
ts D
ue
Draft for Discussion
Proposed Day-ahead Settlement Timeline - Option 3
Operating Day = Monday
DAM Settlement Statement for operating day Monday is scheduled to be posted by noon Tuesday.
DAM Invoice for operating day Monday is scheduled to be posted by midnight Tuesday.
Payments due to ERCOT for the DAM Invoice for operating day Monday are due to ERCOT by 5:00 p.m. CPT on Thursday.
Funds owed to Invoice Recipients are due to them by 5:00 p.m. CPT on Friday.
DAY 0DayAhead
Day 1Operating Day
Day 4InvoiceDue
Day 2Statement and Invoice Issued
Day 3
Invo
ice
Pay
men
ts D
ue
Su
nd
ay
Mo
nd
ay
Tu
esd
ay
We
dn
esd
ay
Th
urs
da
y
Invo
ice
Fun
ds P
aid
Frid
ay
12
:00
No
on
Daily Invoice
Day 5 or next Business Day
Draft for Discussion
Proposed Day-ahead Settlement Timeline - Option 4Operating Day = Monday
DAM Settlement Statement for operating day Monday is scheduled to be posted by midnight Tuesday.
DAM Invoice for operating days Monday through Sunday of the previous week scheduled to be posted by midnight Thursday.
Payments for invoices for operating days Monday through Sunday of the previous week due to ERCOT by 5:00 p.m. CPT on Monday.
Funds owed to Invoice Recipients are due to them by 5:00 p.m. CPT on Tuesday.
DAY 0DayAhead
Day 1Operating Day
Day 4InvoiceDue
WeeklyInvoice
Day 2Statement and Invoice Issued
Day 3
Invo
ice
Pay
men
ts D
ue
Su
nd
ay
Mo
nd
ay
Tu
esd
ay
We
dn
esd
ay
Th
urs
da
y
Frid
ay
Invo
ice
Fun
ds P
aid
State
men
t for
Mon
day
State
men
t for
Tue
sday
State
men
t for
Wed
nesd
ay
1 42 3S
unda
y
Mon
day
Tue
sday
Wed
nesd
ay
Thu
rsda
y
Frid
ay
5 6 7
Sat
urda
y
Previous Week
Mo
nd
ay
Tu
esd
ay
Draft for Discussion
Proposed Day-ahead Settlement Timeline - Option 5Operating Day = Monday
DAM Settlement Statement per option-1.
Real-time initial Statement per settlement calendar (assumed 10 days after operating day)
Netted Invoice for Real-Time, DAM and CRRs for operating days Mon – Sun of week-1 posted by midnight Thursday (week-3).
Payments due to ERCOT by 5:00 p.m. CPT on Monday.
Funds owed to Invoice Recipients are due to them by 5:00 p.m. CPT on Tuesday.
Mon
day
State
men
tTu
esda
y Sta
tem
ent
Wed
nesd
ay S
tate
men
t
Week-1Mon-Sun
Week-2Mon-Sun
Week-3Mon-Sun
DAY 0DayAhead
Day 1Operating Day
Day 4InvoiceDue
WeeklyInvoice
Day 2Statement and Invoice Issued
Day 3
Invo
ice
Pay
men
ts D
ue
Su
nd
ay
Mo
nd
ay
Tu
esd
ay
We
dn
esd
ay
Th
urs
da
y
Frid
ay
Invo
ice
Fun
ds P
aid
Mo
nd
ay
Tu
esd
ay
Draft for Discussion
Options for Settlement of DAM
1. Settlement timeline proposed in the 3/2/05 presentation to TNT
2. Move payment date of Invoice out by one day3. Move Statement publish date to noon of the day
following the Operating Day (but move Operating Day trade adjustments to the real-time Statement).
4. Daily Statements but weekly Invoices5. Synchronize DAM and real-time Invoices
Note – Prefer one statement for DAM
Draft for Discussion
Instructions:
1. Internal MP Review of 5 Options 2. Rank in descending order (least favorable at bottom)3. Email list to Ted Hailu ([email protected]) by close of
business June 7 (Please use “DAM Options” as the subject of the e-mail)
4. ERCOT will compile 2 top options and begin drafting DAM Protocol language
5. COPS review top 2 options and vote for approval at June 14 meeting. Complete DAM Protocol Language
6. Review and vote for approval of DAM Protocol Language at June 28 meeting