[Federal Register Volume 79, Number 161 (Wednesday, August 20, 2014)]
[Notices]
[Pages 49302-49304]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-19748]
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DEPARTMENT OF ENERGY
Federal Energy Regulatory Commission
[Docket No. AD14-14-000]
Price Formation in Energy and Ancillary Services Markets Operated
by Regional Transmission Organizations and Independent System
Operators; Supplemental Notice of Workshop on Price Formation and
Issuance of Report on Uplift in RTO and ISO Markets
As announced in a Notice issued on July 9, 2014, the Federal Energy
Regulatory Commission (Commission) will hold a workshop on Monday,
September 8, 2014 to commence a discussion with industry on uplift
payments in energy and ancillary service markets operated by the
Regional Transmission Organizations and Independent System Operators
(RTOs/ISOs). The workshop will commence at 8:45 a.m. and conclude at
5:15 p.m. and be held at the Federal Energy Regulatory Commission, 888
First Street NE., Washington, DC 20426. This workshop is free of charge
and open to the public. Commission members may participate in the
workshop.
The agenda and a list of participants for this workshop are
attached. A report on uplift in RTO/ISO markets has been posted to the
Commission Web site at: http://www.ferc.gov/legal/staff-reports/2014/08-13-14-uplift.pdf.
Those who plan to attend the workshop are encouraged to complete
the registration form located at: https://www.ferc.gov/whats-new/registration/09-08-14-form.asp. There is no registration deadline.
The workshop will be transcribed. Transcripts of the workshop will
be available for a fee from Ace-Federal Reporters, Inc. (202-347-3700
or 1-800-336-6646). Additionally, there will be a free webcast of the
workshop. The webcast will allow persons to listen to the workshop but
not participate. Anyone with Internet access who wants to listen to the
workshop can do so by navigating to the Calendar of Events at
www.ferc.gov, locating the technical workshop in the Calendar, and
clicking on the webcast link. The Capitol Connection provides technical
support for the webcast and offers the option of
[[Page 49303]]
listening to the meeting via phone-bridge for a fee. If you have any
questions, visit www.CapitolConnection.org or call 703-993-3100.
While this workshop is not for the purpose of discussing specific
cases, the workshop may address matters at issue in the following
Commission proceedings that are pending: PJM Interconnection, L.L.C.,
Docket No. ER14-1144; Southwest Power Pool, Docket Nos. ER12-1179,
ER13-1748, and ER14-2399; Midcontinent Independent System Operator
(formerly Midwest Independent Transmission System Operator, Inc.),
Docket Nos. ER04-691, EL07-86, EL07-88, EL07-92, ER09-411, ER11-2275,
ER12-678, ER13-2124, EL14-58, ER14-2156, ER14-2445, and ER14-5677; and
ISO-New England, Docket Nos. ER14-2376 and ER14-2407.
Commission workshops are accessible under section 508 of the
Rehabilitation Act of 1973. For accessibility accommodations please
send an email to [email protected] or call toll free (866) 208-
3372 (voice) or (202) 502-8659 (TTY), or send a fax to (202) 208-2106
with the requested accommodations.
For more information about the workshop, please contact:
William Sauer (Technical Information), Office of Energy Policy and
Innovation, Federal Energy Regulatory Commission, 888 First Street NE.,
Washington, DC 20426, (202) 502-6639, [email protected].
Sarah McKinley (Logistical Information), Office of External Affairs,
Federal Energy Regulatory Commission, 888 First Street NE., Washington,
DC 20426, (202) 502-8368, [email protected].
Dated: August 14, 2014.
Kimberly D. Bose,
Secretary.
Price Formation in Energy and Ancillary Services Markets Operated by
Regional Transmission Organizations and Independent System Operators
Uplift Workshop
Docket No. AD14-14-000
September 8, 2014.
Agenda
This workshop is part of the Commission's recently announced effort
to explore improvements to market designs and operational practices in
order to ensure appropriate price formation in energy and ancillary
services markets. Specifically, the purpose of this workshop is to
explore the technical, operational and market issues that give rise to
uplift payments and the levels of transparency associated with uplift
payments. The workshop will also preview the scope of the remaining
price formation topics, which include offer price mitigation and price
caps, scarcity and shortage pricing, and operator actions that affect
prices.
8:45 a.m.-9:00 a.m.--Welcome and Opening Remarks
9:00 a.m.-10:45 a.m.--Panel 1: Causes of Uplift
Panel 1 will explore issues that give rise to uplift payments. Each
panelist will have the opportunity to discuss drivers of uplift
payments in its RTO/ISO and is encouraged to be prepared to discuss:
(1) uplift payments that have been highly concentrated and persistent
on a geographic or resource basis; (2) technical, operational and
market issues driving uplift payments; and (3) the relationship between
uplift payments and unit flexibility.
Panelists
Guillermo Bautista Alderete, California Independent System
Operator Corporation
Peter Brandien, ISO-New England, Inc.
Todd Ramey, Midcontinent Independent System Operator, Inc.
Joseph Bowring, Monitoring Analytics
Robert Pike, New York Independent System Operator, Inc.
Stu Bresler, PJM Interconnection, L.L.C.
David Patton, Potomac Economics
Richard Dillon, Southwest Power Pool, Inc.
10:45 a.m.-11:00 a.m.--Break
11:00 a.m.-12:00 p.m.--Panel 2, Part 1: Impact on Market Participants
Panel 2 will explore the impact of uplift on market participants.
Each panelist will have the opportunity to discuss how uplift payments
and/or charges affect its participation in energy and ancillary service
markets operated by the RTOs/ISOs. Possible discussion items could
include how business decisions are impacted by: (1) Uplift transparency
provided by RTOs/ISOs, the RTO/ISO market monitoring units, and
Electric Quarterly Reports; (2) price distortions resulting from out-
of-market payments; and (3) the level and volatility or
unpredictability of uplift charges. The RTOs/ISOs and the RTO/ISO
market monitoring units will be given an opportunity to discuss any
issues raised by panelists. The first part of this panel will focus on
the impact of uplift payments on market suppliers.
Panelists
John Rohrbach, ACES
Mark Smith, Calpine Corporation
Brian Forshaw, Connecticut Municipal Electric Energy
Cooperative
Ivan Kimball, Consolidated Edison Co. of New York
Jason Cox, Dynegy Inc.
Michael Schnitzer, Entergy Nuclear Power Marketing, LLC
Wesley Allen, Financial Marketers Coalition
Peter Fuller, NRG Energy
Elizabeth Whittle, Retail Energy Supply Association
12:00 p.m.-1:00 p.m.--Lunch
1:00 p.m.-2:00 p.m.--Panel 2, Part 2: Impact on Market Participants
This continuation of Panel 2 from the morning session will focus on
the impact of uplift payments on load-serving entities and financial
marketers.
Panelists (Same Panelists as Part 1)
2:00 p.m.-2:15 p.m.--Break
2:15 p.m.-4:00 p.m.--Panel 3: Price Transparency and Evolving Market
Designs
Panel 3 will explore the adequacy of and the potential to enhance
uplift transparency and recent market design changes that may address
some of the causes of uplift. Discussion will include whether and how
to include uplift related costs into locational marginal prices and
improve the usefulness of publicly available uplift information.
Panelists should be prepared to discuss current initiatives and ideas
for potential future market design changes that would further enhance
transparency and price formation.
Panelists
Bradford Cooper, California Independent System Operator
Corporation
Brian Forshaw, Connecticut Municipal Electric Energy
Cooperative
Susan Pope, Electric Power Supply Association
William Berg, Exelon Corporation
Matthew White, ISO-New England, Inc.
Todd Ramey, Midcontinent Independent System Operator, Inc.
Joseph Bowring, Monitoring Analytics
Robert Pike, New York Independent System Operator, Inc.
Stu Bresler, PJM Interconnection, L.L.C. Richard Dillon,
Southwest Power Pool, Inc.
4:00 p.m.-5:00 p.m.--Panel 4: Broader Price Formation Issues
Panel 4 will explore broader price formation issues and discuss
next steps.
[[Page 49304]]
In the Notice issued on June 19, 2014, four price formation topics were
outlined: (1) Use of uplift payments; (2) offer price mitigation and
offer price caps; (3) scarcity and shortage pricing; and (4) operator
actions that affect prices. This exploratory session will assist staff
in examining the relationship among these four topics, whether other
price formation topics, not included in the June 19, 2014 Notice,
should be explored, and the appropriate next steps in this staff
exploration of price formation.
Panelists
Susan Pope, Electric Power Supply Association
Judith Judson, Energy Storage Association
Harry Singh, J. Aron & Company
David Mohre, National Rural Electric Cooperative Association
Elizabeth Whittle, Retail Energy Supply Association
David Patton, Potomac Economics
Bob Weishaar, PJM Industrial Coalition and PJM Load Coalition
5:00 p.m.-5:15 p.m.--Closing
[FR Doc. 2014-19748 Filed 8-19-14; 8:45 am]
BILLING CODE 6717-01-P