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ERCOT Reports Potential Price Corrections
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ERCOT said in an August 20 market notice that, on August 10, 2024, ERCOT became aware of a Resource that was incorrectly identified as not being qualified for Security-Constrained Economic Dispatch (SCED).
ERCOT said that on August 9, 2024, ERCOT had erroneously updated this Resource's registration effective date, effectively removing it from SCED qualification. ERCOT fixed the Resource's effective date at approximately 1:00 PM local time on August 10, 2024, allowing this Resource to be considered for SCED dispatch.
ERCOT said that, as a result, prices in the Real-Time Market (RTM) for Operating Days (ODs) August 9, 2024 and August 10, 2024 may have been impacted.
The Day-Ahead Market (DAM) was not affected.
ERCOT is continuing to investigate the impact on real-time market prices. ERCOT in its August 20 market notice did not provide any value for the potential impact of any potential price correction
If ERCOT determines that RTM prices qualify for a correction and seeks review of such prices by the ERCOT Board of Directors (Board), ERCOT must notify Market Participants no later than 30 days following the OD [ERCOT Protocol Section 6.3(7)(a)]
As ERCOT continues to investigate the impact on RTM prices, ERCOT issued the August 20 market notice to preserve the eligibility of the Board to review the RTM prices for the relevant ODs.
ERCOT will issue a follow-up market notice with more information concerning pricing impacts and the specific ODs for which ERCOT will be seeking Board review, if any.
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August 20, 2024
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Copyright 2024 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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