ERCOT To Seek Correction Of Prices For Operating Day

ERCOT stated in a July 20 market notice that, "An issue was discovered in ERCOT’s Energy and Market Management Systems (EMS and MMS) with respect to the definitions of two double-circuit contingencies, DCNLHS8 and DLHSCNR8," relating to operating days July 18 and 20, 2018

ERCOT stated in the July 20 market notice that, "The incorrect definitions were caused by an ERCOT software issue, which resulted in the contingencies having excess transmission equipment that should not have been included in the definitions. The definitions of these contingencies has since been resolved."

A description of the contingencies follows:

Contingency        Description
Short Name 
DCNLHS8             Loss of the 138 kV Double-
                    Circuit from Centerville
                    Road Switch to Lake Hubbard
                    SES

DLHSCNR8            Loss of the 138 kV Double-
                    Circuit from Lake Hubbard 
                    SES to Centerville Road

ERCOT stated in the July 20 market notice that following the discovery of this issue, ERCOT staff began an investigation of market prices.

ERCOT stated in the July 20 market notice that, "For the Real-Time Market, the impacted Operating Day is July 18, 2018. The timeline described in paragraph (6) of ERCOT Protocol Section 6.3, Adjustment Period and Real-Time Operations Timeline, has lapsed and therefore the prices are deemed final. However, in accordance with paragraph (6)(a) of the same section, ERCOT has determined that the prices are in need of correction, and will seek ERCOT Board of Directors approval of such prices at the August 7, 2018 meeting. Detailed materials will be provided one week in advance of the Board meeting."

ERCOT stated in the July 20 market notice that, "For the Day-Ahead Market, the impacted Operating Day is July 20, 2018. ERCOT is still investigating the issue, and expects to post any corrected prices by 10:00 AM CPT on July 24, 2018."