ERCOT Nodal 101 Flashcards
(67 cards)
What percentage of the Texas load does ERCOT represent?
ERCOT Represents 90% of Texas Load
What is ERCOT’s generation capacity?
77,000 MW
How many miles of transmission lines does ERCOT govern?
46,500
What are the 3 types of ancillary services?
- Regulation Reserve
- Responsive Reserve
- Non-Spin Reserve
What is a QSE?
Qualified Scheduling Entity
What is an LSE?
Load Serving Entity
What is a TDSP?
Transmission and/or Distribution Service Providers
What is a Resource Entity?
owns or controls a generation resource or behaves as a load acting as a resource
What are the 3 ERCOT Facilitated Markets
- Day-Ahead Ancillary Services Market
- Day-Ahead Energy Market
- Real-Time Energy Market
What is the non-ERCOT Facilitated market known as?
Bilateral Market
ERCOT is an energy-only market. What does that mean?
All costs to build generation must be recovered with revenues from energy production and operating reserves.
What is an IMRE?
Independent Market Information System Registered Entity
What are CRR?
Congestion Revenue Rights
What is LMP?
Locational Marginal Pricing
Define Locational Marginal Pricing
Pricing: Cost
Marginal : to serve the next increment of Load
Locational: at an Electrical Bus
True or False:
The Nodal Market includes losses in LMPs
False.
What is Congestion Rent?
The difference between Payment to Resources and Charges to Load
What are the 3 types of Settlement Points?
- Resource Nodes
- Load Zones
- Hubs
True or False:
In the Day-Ahead Market, LMPs are settled every hour.
True.
True or False:
In the Day-Ahead Market, Settlement Point Prices are settled every 15 minutes.
False. In the Day-Ahead Market, Settlement Point prices are settled every hour.
What is a Reserve Price Adder?
The economic value of reserves that are available for energy dispatch in Real-Time.
True or False:
LMPs and Reserve Price Adders are used
together to form SPPs in Real-Time
True.
True or False: LMPs represent the value of reserves ERCOT-wide
False. LMPs are location-specific.
True or False:
Reserve Price Adders represent the value of reserves ERCOT-wide
True.