It is an action by the ISO to schedule a resource for which the Participant submitted supply offers to sell energy. The ISO can schedule these resources in the Day-Ahead Market as well as commit them to provide energy in the Real-Time dispatch.
Real-Time Market Frequently Asked Questions
It is an action taken by a Lead Market Participant to commit or schedule a resource, to provide energy in an hour, whether or not the resource would have been scheduled or dispatched by the ISO to provide the service.
The commitment of resources in the Day-Ahead Market is one of the factors used by the ISO to dispatched resources in Real-Time. The ISO will consider start-up and shut down profiles along with the cleared Day-Ahead Market schedules and commit additional resources as required to meet capacity needs as part of the Resource Adequacy Analysis (RAA) process.
Reference:
ISO New England manual - M-11 Market Operations.
System Operating Procedures - Perform Reserve Adequacy Assessment.
To arrive at your "Energy Real-Time " value found on your bill, for the duration period referenced on this bill, you have to sum your "Real-Time Net Energy Settlement" [found on your SR_RTCUSTSUM Real-Time Energy Market Summary Report]. The data is hourly and has to be summed for the day and then for all of the days.
Reference:
WEM101 Training.
External Inadvertent is calculated by the ISO on an hourly basis at each External node and is equal to the sum of the scheduled amounts at each External Node, including any scheduled Emergency transactions, subtracted from actual amounts delivered to each Node. The calculated values across all nodes are summed and then distributed to participants based on pro rata share of the sum of all Participants Real-Time Load Obligations and Real-Time Generation Obligations over all locations, measured as absolute values per Market Rule 1, Section 3.2.1.
The Real-Time Marginal Loss Revenue is allocated on Real-Time Adjusted Load Obligation (RTALO).
Real-Time Adjusted Load Obligation (RTALO) = RTLO + DA and RT IMB Purchases + DA RT IBM Sales
The Marginal Loss credit is allocated to Market Participants pro-rata on hourly Real-Time Adjusted Load Obligation.
Real-Time Marginal Loss Revenue Allocation is the product of a Participant's pro-rata share of the pools Real-Time loss charges [Participant value divided by the Pool value] and the Real-Time Marginal Loss Revenue Value
Day - Ahead Marginal Loss Revenue = Pool Day Ahead Energy Settlement plus Pool Day Ahead Loss Revenue
Real-Time Marginal Loss Revenue Allocation = the Participant's pro-rata share of the Real-Time Adjusted Load Obligation multiplied by Pool Day Ahead Marginal Loss Revenue plus Pool Real-Time Marginal Loss Revenue
The deadlines are as follows:
- The Day-Ahead Internal Bilateral Transaction Trading Deadline is 1700 on the first (1st) Business Day after the applicable Operating Day
- Internal Bilateral Transaction for Forward Reserve, is 2400 on the day before the applicable Operating Day, they will not be accepted in the Data Reconciliation Process.
- The Real-Time Internal Bilateral Transaction trading Deadline is 1700 hours (prevailing Eastern Time) on the second (2nd) Business Day after the applicable Operating Day.
- Data submission for the data reconciliation process for Internal Bilateral Transactions (excluding Internal Bilateral Transaction for Forward Reserves) closes at Day 101 @17:00.
Reference:Settlement deadlines.
For additional information visit the FAQ's for OATT and ISO Tariff for additional information.
ISO Tariff Charges that a generator may be subject to:
ISO Tariff Schedule 2
- (TUs)Transaction Units, as applicable.
- A transaction unit is accrued for each hour that a transaction is in place.
- Possible transaction units:
- Transaction Units for Schedule Block Hours
- Transaction Units for Non-Zero ANI
- Transaction Units for Bilateral Transactions
- (VMs) Volumetric Measure Charges for Real-Time Generation Obligation
ISO Tariff Schedule 3
- Charges for Non-coincident peak load obligation for Station Service Load (If generator owns the Station Service Load Asset).
