The California ISO is pleased to announce the completion of the Spring 2017 release deployment with activation effective trade date May 2, 2017. System changes for Administrative Pricing Enhancements, Local Market Power Mitigation (LMPM) Enhancements, and Congestion Revenue Rights (CRR) Clawback Rule Modification are complete and active.
The ISO has deployed and activated the Spring 2017 release effective trade date May 2, 2017.
System changes for the following release projects are complete and active:
Administrative Pricing Enhancements
Establishes a tiered approach for administrative pricing that provides simple and practical rules and price certainty, minimum impact on the market as a whole, addresses settlements implications for both physical and financial resources, and clarifies market participants’ financial obligations for force majeure events.
The initiative establishes a predictive mitigation procedure in the five-minute market. These modifications can improve accuracy by ensuring that mitigation is applied when constraints will most likely be binding in real-time.
CRR Clawback Rule Modification
The Congestion Revenue Rights (CRR) rule treats a day-ahead intertie award that is reduced in real-time as a “virtual award.” If the real-time reduction to a day-ahead intertie award exceeds 10% of the transmission capacity, then 100% of revenues on the CRRs are clawed back, discouraging rebidding into the 15-minute market. This initiative modifies which transactions should be considered “virtual awards” subject to clawback.