FTR Auction Walkthrough
Annual Auction Workshop
4/15/2015
Disclaimer
The following materials are intended for use as training
materials only and are not intended to convey, support,
prescribe or limit any market participant activities.
These materials do not act as a governing document
over any market rules or business practices manual.
The data used in the scenarios is test data in a test
environment, and should not be used to support
market analyses.
This material is based on current system and process
designs, and Business Practices Manuals in effect as
of the date of the training and are subject to change
based on stakeholder input.
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Outline
• Timeline
Timeline and What is New
• FTR Auction
– Overview
– FTR Auction Explanation
• FTR System Walkthrough
–
–
–
–
View Auction Model Data
Access the FTR Auction Market User Interface (MUI)
Create/Submit Portfolio
View Auction Results
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Timeline for the Annual Auction
S M
5 6
12 13
19 20
26 27
April
T W
1
7 8
14 15
21 22
28 29
T
F
S
2 3 4
9 10 11
16 17 18
23 24 25
30
May
S M T W T
3 4 5 6 7
10 11 12 13 14
17 18 19 20 21
24 25 26 27 28
31
F
S
1 2
8 9
15 16
22 23
29 30
Annual FTR Auction
4/10/15 MISO to POST the Network and Commercial Data associated with the 4-seasonal allocation Models.
4/13/15 Credit submission deadline for the Annual Auction
4/15/15 Multi-Round FTR Auction Workshop
Market Participants to SUBMIT Bids and Self-Schedule ARRs into the Round 1 of Annual Auction (2 business
days)
4/28/15 MISO to POST the results of the Round 1 Annual Auction
4/20/15 4/21/15
4/30/15
5/1/15 Market Participants to SUBMIT bids into the Round 2 of Annual Auction (2 business days)
5/7/15 MISO to POST the results of the Round 2 Annual Auction
5/12/15 5/13/15 Market Participants to SUBMIT bids into the Round 3 of Annual Auction (2 business days)
5/19/15 MISO to POST the results of the Round 3 Annual Auction
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4
Outline
• Timeline
• FTR
FTR Auction
Auction
– Overview
– FTR Auction Explanation
• FTR System Walkthrough
–
–
–
–
View Auction Model Data
Access the FTR Auction Market User Interface (MUI)
Create/Submit Portfolio
View Auction Results
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FTR Auction Overview
• Participants buy from and sell to the available “pool”
of FTR system capacity
– No direct FTR trades between sellers and buyers in the FTR
Auction
• All types of FTRs can be bid for and offered
– Obligations
• Each FTR entered into an auction must be valid over
the whole period of the auction
– Entire season for annual auction
– Entire month for monthly auction
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FTR Auction Overview (2)
• In the Annual FTR Auction, feasible Stage 1 ARRs
may be “self-scheduled” to FTRs for a specified MW
amount
– Feasible Stage 1 ARRs,
• Stage 1A ARRs or LTTRs, including Restoration.
• Stage 1B ARRs
– ARR can be self-scheduled partially in MW amount.
– NOTE: Self-scheduled ARRs must be submitted in Round 1!
• ARRs from the ARR annual allocation entitle the
holder to a stream of auction revenues or charges
based on the FTR annual auction nodal prices over
the ARR paths
– The values of Infeasible ARRs are calculated based on FTR
annual auction nodal prices as well.
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FTR Auction Overview (3)
• The objective is to determine winning bids (to
buy FTRs) and offers (to sell FTRs) to maximize
“Social Welfare”, not the auction revenue.
Max(
∑ Bid Price • MW
Bid
Buybids
−
∑ OfferPrice • MW
Offer
)
Selloffers
• Subject to simultaneous feasibility with “n-1”
security
– MW limits on all monitored elements
• Account for already-taken transmission capacity
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FTR Auction Overview (4)
• A bid/offer or self-schedule is specified by:
–
–
–
–
–
–
FTR/ARR ID, if it is a sell offer or a self-schedule
Asset Owner
Hedge Type (Obligation only)
Source & Sink
Peak or Off-peak
Bids/Offer Curve*
• MW amount and price pairs
• Bid/offer and clearing prices are in MW-Season or MWMonth (depending on the auction period) for all the peak or
off-peak hours of the period
* for a self-scheduled ARR, only the MW quantity to be self-scheduled is needed
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FTR Auction Explained
(100 MW Max)
40 MW
A
FTR #1
100 MW
B
40 MW
(125 MW Max)
60 MW
(90 MW Max)
C
Initial Line Flows
FTR #1
100 MW
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FTR Auction Explained
• The auction process begins by extending the
base case network to include FTR Offers and
Bids.
– The following offers and bids were submitted:
• FTR Holder #1 offered 50 MW of its 100 MW FTR at 3.5$/MW from B C.
• Bidder # 1 Bid 75 MW at 8.5 $/MW from B C. The bid price is the max entity # 1
is willing to pay.
• Bidder # 2 Bid 125 MW at 8.0 $/MW from A C. The Bid price is the max entity #
2 is willing to pay.
• Auction model is constructed as combination of
three types of element:
• Initial FTRs are modeled as injection and withdrawals from Receipt Point to
Delivery Point
• Offers are modelled as withdrawals and injections from the FTR Receipt Point to
Delivery point, respectively
• Bids are modelled as injections and withdrawals from Receipt Point to Delivery
point, respectively
FTR Auction Explained
125 MW
@ 8.00 $/MW
Bid
#2
(100 MW Max)
40 MW
A
125 MW
@ 8.00 $/MW
Offer
#1
Bid
#2
C
FTR #1
100 MW
75 MW
@ 8.5 $/MW
B
FTR #1
100 MW
Offer # 1
50 MW@ 3.5 $/MW
50 MW
@ 3.5 $/MW
40 MW
(125 MW Max)
Bid
#1
60 MW
(90 MW Max)
Bid
#1
75 MW
@ 8.5 $/MW
FTR Auction Explained
• Objective Function
– Sum (Bid Price * LP Bid MW) - Sum (Offer
Price * LP Offer MW)
• Line Flow Sensitivity table
Line Flow
A
B
Line Flow
A
C
Line Flow
B
C
Offer # 1
C B
+ 0.40
- 0.40
- 0.60
Bid # 1
B C
- 0.40
+ 0.40
+ 0.60
Bid # 2
A C
+ 0.20
+ 0.80
+ 0.20
FTR Auction Explained
•
Suppose the marginal/limit agent is line AC with 4 MW limit
– The marginal Cost of limiting element Bus A to Line Bus C is
• ∗ 8.5 = 0.4 * ,therefore
!.#
$.%
21.24
– The clearing price at each buses are respectively
•Clearing Price AC )* ∗ +
0.8 $17
•Clearing Price BC )* ∗ +0
0.4 $8.5
21.24 ∗
21.24 ∗
– Bid # 2 got cleared as the bid price is equal to clearing price of the path
– The total MW cleared is equal to 12.5 MW for path B to C
•For every 1 MW injected at node B, 0.4
MW will travel via path AC
Available Capacity
• Available transmission capacity
– Three rounds with separate bidding windows will be
used. Rounds will be cleared at:
• Round 1 system capacity usage 33% of remaining capacity
• Round 2 system capacity usage 50% of remaining capacity
• Round 3 system capacity usage 100% of remaining capacity
– Awarded FTRs in earlier rounds will be seen as base
(initial) loading in subsequent rounds
– Awarded MW in earlier rounds can be offered in
subsequent rounds
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ARR Self-Scheduling
• Self-scheduled ARR MW will be equally split
into all remaining rounds.
– Round 1: One third of self-schedule ARR MW
– Round 2: Half of remaining self-schedule unconverted
ARR
– Round 3: All remaining unconverted self-schedule
ARR.
• FTRs from self-scheduled ARR can be sold in
subsequent rounds
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ARR Pricing
• Weighted Average Method
– An ARR is not priced simply based on unweighted
average of auction round prices no matter how the
ARR is self-scheduled
– An ARR shall be calculated based on the following
four components
•
•
•
•
Clearing price (P1) for MW (X1) converted in round 1
Clearing price (P2) for MW (X2) converted in round 2
Clearing price (P3) for MW (X3) converted in round 3
Unweighted average of all three round clearing prices for
ARR MW not converted (X -X1 – X2 – X3) after annual
auction, where X is the ARR MW amount.
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Outline
• Timeline
• FTR Auction
– Overview
– FTR Auction Explanation
FTR System Walkthrough
• FTR System Walkthrough
–
–
–
–
View Auction Model Data
Access the FTR Auction Market User Interface (MUI)
Create/Submit Portfolio
View Auction Results
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Market Portal
• The MISO Market Portal can be found at:
– https://markets.midwestiso.org/MISO
• Access to the MISO Portal is controlled through the
use by digital security certificates that can be
imported into a user’s web browser.
• Each certificate is assigned roles corresponding to
different areas of the portal (DART, FTR, Settlements,
etc.).
• Only users with assigned FTR roles will be able to
participate in the FTR Auction process.
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Market Portal Continued…
• MISO FTR portal is supported for IE 9, other
browsers may not have 100% functionality
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Market Portal Continued…
• If MPs do have IE 11 they can use the following steps
to use IE 11 in compatibility mode:
– Close all browsers and start a new browser session and log into MISO
Portal (sometimes if SSL authentication failed once it keeps failing until
the SSL state is cleared)
– Keep focus on MISO Portal page , Press F12 function key to access the
Developer Tools.
– From the left panel, towards the bottom, select Emulation – or press
CTRL + 8 to open it.
– Under the ‘Document mode’ drop-down box select 9
– Under the ‘User agent string’ drop-down box select Internet Explorer 9
– Select FTR page (as needed) from MISO Portal drop down menu
– Select the other function keys, buttons as needed
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Market Portal Continued…
• If MPs do have IE 11 they can use the following steps
to use IE 11 in compatibility mode:
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Market Portal
• The MISO Market Portal can be found at:
– https://markets.midwestiso.org/MISO
• Access to the MISO Portal is controlled through the
use by digital security certificates that can be
imported into a user’s web browser.
• Each certificate is assigned roles corresponding to
different areas of the portal (DART, FTR, Settlements,
etc.).
• Only users with assigned FTR roles will be able to
participate in the FTR Auction process.
• MISO FTR portal is supported for IE 9, other
browsers can not have 100%functionality
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Access MISO Market Portal
• The MISO Market Portal main page
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Access Auction Model Data
Select “Downloads”
• Navigate to FTR/Public FTR/Downloads
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Access Auction Model Data (2)
Select “Network” Tab
• Access FTR Auction Network Data
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Access Auction Model Data (3)
Select Market Term and then Market
• Network Model Downloads
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Access Auction Model Data (4)
• FTR Auction Market Data
1. Select Auction Term
2. Select Market &
Round
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Network Model Data
• Network model data can be found on the
Network Tab of the download section.
• Network data includes:
•
•
•
•
•
•
•
•
•
RAW Cases
Contingency Data
Scheduled Outages
Loop Flows
Monitored Lines and Transformers
Flowgates
Contingency Specific Constraints
Nomograms
PAR Controls
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Network Model
• ARR/FTR analysis utilizes a bus-branch network
model that is derived from a node-breaker
model maintained in the EMS environment.
• The ARR/FTR model is created through the
following steps:
Current snapshot
of EMS
Environment
Future Equipment
are added and
Retiring Facilities
are removed.
Circuit Breaker are
positioned at their
nominal status
Power Flow is
executed to get a
solved system
state
Bus #, Bus names
and Area # are
mapped to the IDC
case
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RAW File
PSSE
Version
EMS Bus
Name
EMS Load
Name
EMS Unit
Name
EMS Branch
Name
EMS Tx.
Name
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Contingency Data
EMS Branch Name
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Contingency Data
• The following criteria are applied to define contingencies for
ARR/FTR :
– OTDF Flowgates in the AFC models are selected if
• Flowgates is internal to MISO footprint
• Flowgate is included in the list of Reciprocal Coordinated
Flowgated(RCF)
– Non-flowgate contingencies are added only if
• Existing flowgate contingencies do not adequately represent
N-1 operating conditions.
• If non-flowgate contingencies is to cause overload in RT or DA
or being active in RTCA.
– External lines and transformer that are not associated with RCF
are not included
– Contingencies that have operating guides are modeled assuming
operating guides are implemented.
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Scheduled Outages
EMS Branch Name
34
Scheduled Outages
• Scheduled outages are composed of outages from MISO
CROW system regardless of the outage status.
• In annual ARR Allocation and annual FTR Auctions,
scheduled outages may also include outages submitted by
MISO Transmission Owners as supplemental outages.
• Scheduled outages inclusion criteria are determined:
– 7 days (or 5 business day) or longer in the season
– Any 5-day longer but less than 7 days outage of 345 Kv
– Any 5 days or longer, but less than 7 days, 100 Kv and
above, critical area.
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Loop Flows
36
Loop Flows
• LF ARRs/FTRs are split into three groups:
– Generation Loopflows: These represent the intra-BA
network generation of the tier 1 balancing areas.
– Load Loopflows : These represents the intra-BA network
load of the tier 1 balancing areas.
– Interface Loopflows : These reperesents the net
interchange of the tier 1 balancing areas.
• All gen, load and interface loopflows will source or sink from
the same arbitrary HUB node.
• Loopflow MWs are normalized in a fashion to ensure that
the net injection/withdrawal MW is equal to zero.
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Monitored Lines and Transformers
38
Monitored Lines and Transformers
• Transmission Lines
– All LBA transmission lines at 100Kv and above are
constrained to their limit.
– Tie between a LBA and tier 1 control area and voltage level
is 100 Kv and above
• Transformer
– All LBA transformers with both ends at 100 Kv and above
are constrained to their limit.
– Ratings are enforced for transformers jointly owned by
internal and external transmission providers and both ends
at 100Kv and above.
– 3-winding transformer are monitored if at least two ends
are more than 100Kv.
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Flowgates
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Flowgates
• All internal PTDF and OTDF flowgates owned by
MISO and monitored in the MISO security
coordination process.
• The flowgate ratings are enforced at or above
90% of their Total Transfer Capability (TTC).
• All external PTDF and OTDF flowgates that are
part of RCF are enforced in ARR/FTR process.
• The external Flowgates and M2M are modeled
as Nomograms.
41
Contingency Specific Constraints
42
Nomograms
43
Nomograms
• Nomograms monitor and enforce commercial
flows, estimated from historical data.
• DA and RT constraints are included as
nomograms
– The criteria to include RT/DA constraint
include, but not limited to, total shadow
price, total binding hours, total days of
binding life span etc.
• All the external RCFs will be modeled as
nomograms.
44
PAR Controls
45
Sources and Sinks
46
Base Loading
47
Access the FTR Auction MUI
Select “FTR Bids”
• Navigate to FTR/Private FTR/FTR Bids
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Create Bid Portfolio via Editor
• Select the market
Select Market,
Period, and Round
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Create Bid Portfolio via Editor (2)
• Select Add New
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Create Bid Portfolio via Editor (3)
• Enter a portfolio name and click Create Portfolio
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Create Bid Portfolio via Editor (4)
• Click “Add” and then fill in asset owner, source, and sink by
clicking the values on the right and then clicking the set
buttons
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Create Bid Portfolio via Editor (5)
•
Click on the tool symbol under the bid curve field and fill in the bid
curve information. Then click on save at the bottom of the bid curve
editor.
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Create Bid Portfolio via Editor (6)
•
Fill in the drop down box for class if it needs to be changed and then
click save.
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Create Bid Portfolio via Editor (7)
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Create Bid Portfolio via Editor (8)
•
To Self Schedule ARRs, simply click on the Self-Scheduling ARRs tab
and repeat the process described earlier
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Create Bid Portfolio via Editor (9)
• Saved Portfolio: Here is where you also submit your
portfolio to the auction
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Create Portfolio via Upload
• Portfolio Template in CSV format*
Enter FTR IDs for SELL FTRs and ARR IDs for
SELF_SCHEDULE
* Upload via XML format is also available
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Create Portfolio via Upload (2)
• Select Add New
Click “Upload”
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Create Portfolio via Upload (3)
• Select portfolio file
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Create Portfolio via Upload (4)
• A Successful Upload
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Retract Portfolio
• Retract Portfolio from Auction for further
editing
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Access Auction Market Results
• FTR Annual Auction Market Results
– Private
Downloads
Private Downloads
– Public Downloads
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Auction Results Private Downloads
• Navigate to FTR>Private FTR>Downloads
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Auction Results Private Downloads (2)
• Select the Market Result tab and then pick
the term, market and round for all available
results
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Access Auction Market Results
• FTR Annual Auction Market Results
– Private Downloads
– Public Downloads
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Auction Results Public Downloads
• Navigate to FTR>Public FTR>Downloads
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Auction Results Public Downloads (2)
• General tab: All valid FTRs from all market participants
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Auction Results Public Downloads (3)
• Select Market Results tab and then the
market term, market and round
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References
• FTR MUI User Manual and FTR Business
Practice Manual can be found at the link
below:
– https://www.misoenergy.org/MarketsOperations/Mark
etInformation/Pages/FTRMarket.aspx
• Private and Public Auction Results
Downloads XML Interface Reference
– https://www.misoenergy.org/Library/Repository/Comm
unication%20Material/Technical%20Infrastructure/FT
R%20MUI%20XML%20Reference.pdf
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