Resolving Issues in Monthly CRR Auction Execution
Learn about the challenges faced during the February 16 Monthly CRR Auction, including the oversight of Pre-Assigned CRRs (PCRRs), the reposting of auction results, immediate mitigation measures taken, and impacts on market participant credit. Discover how these issues were identified, addressed, and future testing strategies to ensure smoother operations.
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Presentation Transcript
Re-Execution of the February 16 Monthly CRR Auction David Maggio & Mark Ruane Technical Advisory Committee January 28th, 2016
Overview of the Issue During the execution of the February 16 Monthly CRR Auction, Pre-Assigned CRRs (PCRRs) that were allocated or modified just prior to the auction execution were not considered by the software engine The PCRRs were included in the Common Base Loading file that is provided in advance of each CRR Auction on the CRR Market User Interface This error was a result of new, unidentified software behavior that was not compatible with our procedures This error was not identified until CRR systems attempted to transfer the auction transactions to the settlements systems This occurs the morning of the auction posting Issue was detected because the PCRRs did not get priced in the auction Technical Advisory Committee 1/28/2016 2
Reposting of the Auction Results Results for the CRR Auction were initially posted at 10 AM on Thursday, January 14, 2016 During this time, we detected the error in the transfer of transaction data to ERCOT Settlements, as part of our procedural validations, and began investigating the issue Market Participants were notified at ~4:30 PM on Thursday, January 14, 2016, that the results for the CRR Auction that had been posted were invalid Updated results were posted on the ERCOT website at ~3:30 PM on Sunday, January 17, 2016 Technical Advisory Committee 1/28/2016 3
Immediate Mitigation Measures This issue can be resolved with process changes and should not require changes to the software We have changed the order in which we create a CRR Auction, execute an allocation, and attach data files for the CRR Auction Additional validation steps have been added to specifically look at outstanding CRRs being transferred to the optimization engine Future regression testing will include the opening, execution, and posting of a Monthly CRR Auction with true-up allocation MW awards Technical Advisory Committee 1/28/2016 4
Market Participant Credit Impacts Credit associated with the auction was not released until Monday, January 18, 2016 There was one collateral call associated with the delayed CRR Auction No instances of constrained DAM activity were noted Technical Advisory Committee 1/28/2016 5
