MISO Multi-Period
Monthly Auction (MPMA)
Workshop
September 4th and 11th
2013
1
Workshop Agenda
• How we got here?
• What is Multi-Period Monthly Auction?
• Changes accompanying MPMA
• Credit FERC Order 741
• Same Bus FTR Submittal
• How does MPMA affect you?
• New display and functionality MUI
• Editor
• Upload
• API
• What is the mock bidding window about?
• Q and A Session
• References and Contacts
2
Workshop Agenda
• How we got here?
• What is Multi-Period Monthly Auction?
• Changes accompanying MPMA
• Credit FERC Order 741
• Same Bus FTR Submittal
• How does MPMA affect you?
• New display and functionality MUI
• Editor
• Upload
• API
• What is the mock bidding window about?
• Q and A Session
• References and Contacts
3
How we got here?
• Multi Period Monthly Auction (MPMA) is a
Market Participant initiated project since 2008
• MISO implemented a reduced scope project in
March 2011 which focused on improvement and
efficiencies and preparing for MPMA
• Software for the purposes of executing
MPMA was delivered
• Full implementation of MPMA was placed on
hold until FTR funding levels had stabilized
4
How we got here? (2)
• Spring 2012 MISO initiated the MPMA project by
finalizing the design, schedule and budget
• Project funding authorization for the project was
secured in May 30th, 2012
• Project would span over 2012 and 2013
• On August 16th, 2012 Stakeholders voted in support
of MPMA project (33 in favor, 17 against and 2
abstentions)
• On December 7th, 2012 MISO filed with FERC the
MPMA tariff revisions
• FERC Approved MPMA filing on August 1, 2013
• Project go live date is October 1, 2013
5
Workshop Agenda
• How we got here?
• What is Multi-Period Monthly Auction?
• Changes accompanying MPMA
• Credit FERC Order 741
• Same Bus FTR Submittal
• How does MPMA affect you?
• New display and functionality MUI
• Editor
• Upload
• API
• What is the mock bidding window about?
• Q and A Session
• References and Contacts
6
What is Multi-Period Monthly Auction?
• MPMA is an extension of the current Monthly FTR
Auction
• MPMA is a balance of period type product
• On the first month of each quarter FTRs will be
available for sale and purchase for the balance
of the remaining period
• MPMA allows hedging against transmission
congestion, by buying and selling FTRs, not just for
next month but for several months further into the
future of the current planning period
7
MPMA Nomenclature Changes
• Since multiple Periods are now available
the term Auction is being replaced by
Market
• Each Market will be named after the
prompt month
• The individual months or seasons that are
part of a single market are called Periods
– November Market will be the first MPMA
market available – offered in October
• Constituting Nov, Dec 13, Jan, Feb 14 Periods
8
Multi-Period Monthly Auction
9
How does MPMA impact MISO Southern
Integration?
• Integrating Members will be eligible to participate in
MPMA following the completion of the Partial Year
FTR Allocation
• Partial Year FTR Allocation results are available on
November 4th, 2013
• Starting with the December Market in November
2013 for December 2013, January 2014 and
February 2014 Integrating members will be able to
buy and sell FTRs only for January and February
10
MPMA important calendar Dates
11
Workshop Agenda
• How we got here?
• What is Multi-Period Monthly Auction?
• Changes accompanying MPMA
• Credit FERC Order 741
• Same Bus FTR Submittal
• How does MPMA affect you?
• New display and functionality MUI
• Editor
• Upload
• API
• What is the mock bidding window about?
• Q and A Session
• References and Contacts
12
Changes Accompanying MPMA
• To implement MPMA several changes are made to the
existing infrastructure
• Software changes not really visible to market
participants
• Internal processes and procedures including
tools to be enhance analysis of MPMA results
• FTR MOI enhancements
• Regulatory
• Credit
Covered later in the slides
• Same bus FTR Clearing
• FTR MUI enhancement
• New functionality
13
Workshop Agenda
• How we got here?
• What is Multi-Period Monthly Auction?
• Changes accompanying MPMA
• Credit FERC Order 741
• Same Bus FTR Submittal
• How does MPMA affect you?
• New display and functionality MUI
• Editor
• Upload
• API
• What is the mock bidding window about?
• Q and A Session
• References and Contacts
14
Credit Changes for MPMA
• FTR Monthly Auction Change to MPMA format
allows Market Participants to trade FTRs for not only
the next month, but also future months and seasons
within the planning year
• This conflicted with MISO’s 6/30/11 compliance filing
in response to FERC Order No. 741 in which MISO
established ‘Minimum Criteria for Market
Participation’
– MISO developed minimum and alternative
capitalization requirements
– Each Market Participant must satisfy the minimum or
alternative capitalization requirements
15
Credit Changes for MPMA (2)
• The capitalization requirements were specific to the
level of service each Market Participant was
authorized to participate in
• The MPMA format impacts the alternative
capitalization service levels
16
Alternative Capitalization Table
effective 10/1/11 – 10/1/13
Level of Service Desired
Minimum Financial
Security Required
Restricted (No Use)
Financial Security
$500,000
$250,000
$200,000
$100,000
$50,000
$25,000
For Applicants or Tariff Customers seeking authorization to
participate in any or all service categories.
This service level will allow an Applicant or Tariff
Customer to bid or offer in any FTR Auction.
For Applicants or Tariff Customers seeking authorization to
participate in any or all service categories except for annual
FTR markets.
This service level will allow an Applicant or Tariff
Customer to bid or offer in Monthly FTR Auctions only.
For Applicants or Tariff Customers seeking authorization to
participate in any or all service categories except for all FTR
markets (Monthly and Annual).
This service level will not allow an Applicant or Tariff
Customer to bid or offer in any FTR Auction.
17
Credit Changes for MPMA
• MISO Credit proposed two options to maintain
compliance with the alternative capitalization
requirements
– Remove the ‘Monthly FTR Auction’ service level
option that requires a minimum $200,000 Financial
Security Requirement with the first $100,000
restricted or;
– Allow those Market Participants in the ‘Monthly FTR
Auction’ service level to only bid or offer on the next
month in a MPMA
18
Credit Changes for MPMA (2)
• MISO vetted these options with Stakeholders
and proceeded with the second option; Tariff
revisions were included in the 12/7/12 filing to
FERC
– More information can be found as meeting materials
for the following meetings:
• 8/27/12 and 12/11/12 CPWG FTR Task Team
• 9/11/12, 10/9/12, 11/6/12, and 12/18/12 CPWG Meetings
• 10/2/12, 10/30/12 MSC Meetings
19
Revised Alternative
Capitalization Table
Level of Service Desired
Minimum Financial
Security Required
Restricted (No Use)
Financial Security
$500,000
$250,000
$200,000
$100,000
$50,000
$25,000
For Applicants or Tariff Customers seeking authorization to
participate in any or all service categories.
This service level will allow an Applicant or Tariff
Customer to bid or offer in any FTR Auction.
For Applicants or Tariff Customers seeking authorization to
participate in any or all service categories except for any
FTR(s) with a term beyond the next calendar month
This service level will allow an Applicant or Tariff
Customer to bid or offer on the next month only in a
non-annual FTR auction.
For Applicants or Tariff Customers seeking authorization to
participate in any or all service categories except for FTR
markets.
This service level will not allow an Applicant or Tariff
Customer to bid or offer in any FTR Auction.
20
Workshop Agenda
• How we got here?
• What is Multi-Period Monthly Auction?
• Changes accompanying MPMA
• Credit FERC Order 741
• Same Bus FTR Submittal
• How does MPMA affect you?
• New display and functionality MUI
• Editor
• Upload
• API
• What is the mock bidding window about?
• Q and A Session
• References and Contacts
21
Same Bus FTR bidding
• MISO reported that Same-Bus FTR clearing had
been occurring in the FTR Market during 2012
• FTRs clearing at the same station have an adverse
impact on FTR Funding
Cleared MW: Buy
FTRs cleared at
Zero Cost
Revenue MW:
Zero Cost FTRs
that have non zero
FTR Value due to
DA MCC
differences
22
Example of Same Bus FTR Issue
FTR Model
of Station A
G1
G2
DART Model
of Station A
G1
G2
G1 is a generator and CPNode, G2 is a generator
and CPNode:
CPNodes G1 and G2 are on the same station A
FTR path clearing is allowed from G1 and G2 or G2
to G1
FTR Cost in this example is $0, no system impact
and FTR Clearing MW could be large
CPNodes G1 and G2 are on the same bus but
separated by a circuit breaker
FTR CPNode path becomes valuable, when Day
Ahead (DA) binds on a transmission constraint that
has G2 or G1 as part of a contingency definition. (ie
the circuit breaker opens up)
The G1 and G2 DA MCC values will differ leading to
a non zero FTR value
23
Current Workaround
FTR Model
of Station A
G1
G2
ZBRs allow for flow
control
The FTR and DART modeling differences can not be
replicated because of Node versus bus branch model
To mimic DART, FTR Market creates zero branch
impedance (ZBR) line on each of the generators
FTR path clearing is allowed from G1 and G2 or G2 to G1
and enforced by the limit placed on the ZBRs (generator
maximum capacity)
FTR clearing with the ZBR in place, will have non-zero
price if ZBR limit is violated
Contingency binding simulation between DART and FTR
is preserved
24
Screening for same bus FTR clearing
Bids
Submitted
Auction
Cleared
Post
Results
Identify
same bus
FTRs
Remove
same bus
FTRs
Post Process
FTR Auction
• MISO has had a temporary screening to
accommodate the FERC’s approval of MISO’s
filing
25
MPMA Screening for same bus FTR
clearing
Bids
submitted via
MUI
FTR System
validates
same bus bids
No
Bids accepted
Auction
Cleared/Post
Results
Yes
Screening process
moved to be pre-auction
clearing
Same bus bids
= bids rejected
MPMA Auction
• MPMA establishes a bid submittal screening
process to ensure submitted bids are not on
the same bus
26
Workshop Agenda
• How we got here?
• What is Multi-Period Monthly Auction?
• Changes accompanying MPMA
• Credit FERC Order 741
• Same Bus FTR Submittal
• How does MPMA affect you?
• New display and functionality MUI
• Editor
• Upload
• API
• What is the mock bidding window about?
• Q and A Session
• References and Contacts
27
How Does MPMA Affect you?
• Depending on your role in your
organization you will be impacted not just
by more monthly auctions but the process
that your company utilizes mainly:
– Submitting portfolios template change
– Downloading of information related to models
and results posting
– API functionality
– Credit
– Settlements
28
Workshop Agenda
• How we got here?
• What is Multi-Period Monthly Auction?
• Changes accompanying MPMA
• Credit FERC Order 741
• Same Bus FTR Submittal
• How does MPMA affect you?
• New display and functionality MUI
• Editor
• Upload
• API
• What is the mock bidding window about?
• Q and A Session
• References and Contacts
29
MUI Download Changes
• Private FTR Results – Flowgate column
will be replaced with description from
submitted bid
– This description comes from the bid
submission
• Downloads will be by Period then zipped
– e.g. November Market Source Sink Shadow
Prices will produce 4 files zipped together
– CSV and/or XML options
• All other downloads will stay the same
30
MUI Editor
• Updated and Improved technology
– MISO recommends using Internet Explorer 9
and Java Runtime Environment 1.7
• The MUI Editors are designed for easier
usability
• Standardized across whole FTR System
– Similar in use and fell to PPA, RSP, and NU
31
Workshop Agenda
• How we got here?
• What is Multi-Period Monthly Auction?
• Changes accompanying MPMA
• Credit FERC Order 741
• Same Bus FTR Submittal
• How does MPMA affect you?
• New display and functionality MUI
• Editor
• Upload
• API
• What is the mock bidding window about?
• Q and A Session
• References and Contacts
32
Auction Portfolio List
33
Auction Portfolio List Cont…
34
Auction Portfolio List for Annual
35
Creating a Portfolio
36
Creating a Portfolio Cont…
37
Creating a Portfolio Cont…
38
Creating a Portfolio Cont…
39
Creating a Buy Bid or Sell Offer
• Click Add
• Set AO, Source, Sink
– Use either the search field or expanding the
folders to the right
• Set Peak/Off-peak from the dropdown
• Set Bid Curve
– Buy bids must be decreasing
– Sell offers must be increasing
• Optional Description field
40
Invalid Bid
41
Source/Sink on Same Bus Error
42
Creating Bids/Offers Cont…
• After all data entered hit save one last time
43
Submitting Portfolio
• You still must submit the Portfolio to the
Period
44
Insufficient Credit
45
Successful Portfolio Submission
46
Clone Portfolio
• New feature that allows you to take
existing portfolio and clone it to another
Period or Market
47
Clone Portfolio Cont…
48
Clone Portfolio Cont…
• Following the clone you still must
make sure you submit the portfolio
to the Period!
49
Retract Portfolio
50
Workshop Agenda
• How we got here?
• What is Multi-Period Monthly Auction?
• Changes accompanying MPMA
• Credit FERC Order 741
• Same Bus FTR Submittal
• How does MPMA affect you?
• New display and functionality MUI
• Editor
• Upload
• API
• What is the mock bidding window about?
• Q and A Session
• References and Contacts
51
CSV Upload
52
Successful CSV Upload
53
CSV Upload Cont…
54
Successful CSV Upload
55
XML Upload
• Using XML is the exact same as CSV except in
XML format
• If there is an error in the CSV/XML upload it will
not be saved.
– Error message will be available for download to fix
issues
• For CSV or XML if you ever need a template for
upload, manually create a bid using the editor
and download to your desired format
• Both format will be posted to the MISO FTR
Website for reference
56
Workshop Agenda
• How we got here?
• What is Multi-Period Monthly Auction?
• Changes accompanying MPMA
• Credit FERC Order 741
• Same Bus FTR Submittal
• How does MPMA affect you?
• New display and functionality MUI
• Editor
• Upload
• API
• What is the mock bidding window about?
• Q and A Session
• References and Contacts
57
API Testing
• Documentation for creating test APIs is
available at:
– https://www.misoenergy.org/Pages/Home.aspx
• Navigate to:
– Markets and Operations
• Technical Infrastructure
– Technical Infrastructure Documents
» Market Portal Meter Data and Settlement Statements API
58
Test Environment
• Suggestions by MISO for testing in CCE
• Access CCE environment at:
– https://cce.midwestiso.org/MISO
• Need a certificate with proper RSA role
– Submit role or view role
• SOAP UI can be used for testing
• Free version of SOAP UI is available at:
– http://sourceforge.net/projects/soapui/files/
59
WSDLs
• The Web Services Description Language
(WSDL) is an XML-based interface description
language that is used for describing the
functionality offered by a web service 1
• Four WSDLs will be available soon
– Market
– Download
– FTR Auction
– Secondary Market
1
Wikipedia
60
SOAP UI test example
• Ping request:
<soapenv:Envelope
xmlns:soapenv="http://schemas.xmlsoap.org/soap/envelope/"
xmlns:v1="http://api.miso.org/schema/ftr/Market/v1">
<soapenv:Header/>
<soapenv:Body>
<v1:ping/>
</soapenv:Body>
</soapenv:Envelope>
61
SOAP UI test example – cont.
• Ping response:
<soap:Envelope
xmlns:soap="http://schemas.xmlsoap.org/soap/envelope/">
<soap:Body>
<pingResponse
xmlns:ns2="http://api.miso.org/schema/ftr/Common/v1"
xmlns="http://api.miso.org/schema/ftr/Market/v1">
<ns2:return>true</ns2:return>
</pingResponse>
</soap:Body>
</soap:Envelope>
62
SOAP UI test example – cont.
Soup UI request:
63
Workshop Agenda
• How we got here?
• What is Multi-Period Monthly Auction?
• Changes accompanying MPMA
• Credit FERC Order 741
• Same Bus FTR Submittal
• How does MPMA affect you?
• New display and functionality MUI
• Editor
• Upload
• API
• What is the mock bidding window about?
• Q and A Session
• References and Contacts
64
What is the mock bidding
window about?
• Participants that will be involved in MISO’s
monthly FTR Auctions should participate
• Benefit from participating in a mock bidding
window include
– Familiarity of the MISOs FTR MUI system
– Identify the various options to submit a bid
– How does MPMA change the way to submit
bids
– Experience submitting bids
65
What is the mock bidding
window about cont…?
• September 16-20th, 2013 participants will
be able to submit portfolios
– MISO’s CCE environment will be utilized for
this mock bidding window
– Access to the CCE environment should be
obtained prior to the start of the mock auction
– More Information Available at:
• https://www.misoenergy.org/MarketsOperations/Pages/NonEventDe
tail.aspx?List=8184e743%2D5b5d%2D4b41%2D8a7e%2D4b6df1d
67d9b&ID=234
66
What is the mock bidding
window about cont…?
• The following assumptions are made
– The MISO Midwest region Model and
September 2013 CPNodes will be utilities
– There will be no results posting associated
following the bidding window close
– For the bidding window the MPMA products
will be October 2013, November 2013, Winter
2014 and Spring 2014
• Number of Bids allowed per auction is 6,000/period
• Maximum of 10 bid points per bid curve
67
Workshop Agenda
• How we got here?
• What is Multi-Period Monthly Auction?
• Changes accompanying MPMA
• Credit FERC Order 741
• Same Bus FTR Submittal
• How does MPMA affect you?
• New display and functionality MUI
• Editor
• Upload
• API
• What is the mock bidding window about?
• Q and A Session
• References and Contacts
68
Question and Answer
• The purpose of this slide is to allow
participants to ask any questions
regarding todays workshop
• Also note that MISO will be posting a Q
and A from todays MPMA workshop
meeting
69
Workshop Agenda
• How we got here?
• What is Multi-Period Monthly Auction?
• Changes accompanying MPMA
• Credit FERC Order 741
• Same Bus FTR Submittal
• How does MPMA affect you?
• New display and functionality MUI
• Editor
• Upload
• API
• What is the mock bidding window about?
• Q and A Session
• References and Contacts
70
References and Contacts
• MISO Tariff Section 44 and 45
• MISO BPM 004 ARR and FTR
• MISO XML Specification document
– CSV templates , XML, and API links will be posted within
the next day
• For issues experiencing during the FTR Mock Bidding
window please contact
– IT Related issues Renuka Fernando at 317-249-5185 or
[email protected]
– For FTR bids: David Schoon at 317-249-5955 or
[email protected]
71