CAISO WEIM Best Practices & Potential Impacts of EDAM

January 18-19, 2024 | Tempe, AZ :: Mountain

0124-caiso-weim-settlements

“Fantastic training program. This course helped solidify my basic knowledge of the industry to which I am new and I feel very confident to perform my job.” Public Utilities Specialist (Settlement Analyst), BPA

“This is great for those who are new to EIM and for those with a few years of experience.” Patrick Hickey, EIM Market Performance Analyst, PNM

The California ISO (CAISO) western energy imbalance market (WEIM) is pursuing an expansion over the next couple of years to incorporate an enhanced day-ahead market (EDAM). Many WEIM market participants, would like to understand the potential impacts of EDAM on the CAISO WEIM in three critical respects:

• Potential impacts of EDAM on merchant operations, BA operations, and settlement charge codes for WEIM
• Best practices for the front-office group in terms of submitting EDAM bids for resources, loads, and interties
• Best practices for the back-office group in the areas of meter validation, shadow settlements, dispute management, transmission billing, and month-end closing

Attendees will come away from this intensive course with a wealth of valuable knowledge:

• How the new EDAM will impact the front-office workflow for their merchant group, balancing area (BA) group and back-office group
• How settlement results can be used as a strategic tool to:
  • validate settlement statements and invoices
  • identify settlement errors
  • submit settlement disputes
  • compute profits and losses (P&L)
  • provide feedback on the effectiveness of bidding strategies
  • maximize the bottom-line profits for assets in WEIM

Front office, back office and settlement staff at WEIM and interested EDAM market participants will want to register early for this EUCI training in the Phoenix area, as in-person space is limited.  Online attendance is also available.

Learning Outcomes 

Attendees at this course will learn how to:  

• Identify how EDAM will influence the front-office workflow
• Operate resources to maximize their value in WEIM
• Explore how to validate day-ahead market awards and compute DA settlement charges for resources and loads
• Assess whether will CAISO provide DA bid-cost recovery payments for resources
• Evaluate the potential impacts of EDAM on market operations and settlement charge codes
• Examine how to compute DA and DART P&L for resources
• Review how CAISO handles overcollected DA congestion revenues and losses
• Demonstrate the main charge codes for a BA group (Loads, Interties, and Nonparticipating Resources)
• Guide BAs to compute annual transmission revenue requirements
• Compute profit and loss (P&L) metrics
• Specify how BAs bill transmission customers for network and point-to-point services
• Allocate settlement charges for BAs to transmission customers
• Discuss the potential impacts of market power mitigation on settlement results

Thursday, January 18, 2024 : Mountain Time

 

8:30 – 8:45 am :: Overview and Introductions

8:45 – 10:30 a.m. :: Potential Impacts of EDAM on WEIM Market Operations and Settlements

• Overview of western imbalance energy market (WEIM)
• Lessons learned from 10 Years of WEIM market operations
• Understanding CAISO full-network model and commercial model
• Key objectives for adding EDAM
• Potential impacts of EDAM on:
  • Merchant group
  • BA group
  • Settlement group
• Reviewing DA bidding workflow for WEIM
  • Merchant market participants
  • BA participants
• How does security-constrained economic unit commitment (SCUC) work?
• Bid-to-bill timeline and challenges
• Quantifying EDAM benefits
• New WEIM initiatives
• Frequently-asked questions about EDAM

10:30 – 10:45 a.m. :: Morning Break

10:45 a.m. – 12:15 p.m. :: Reviewing EDAM Bid-to-Bill Workflow for WEIM Participants

• Reviewing EDAM bidding workflow
• Submitting 4-part energy bids and imbalance-energy bids for resources
• Submitting self-scheduled bids for interties
• Downloading CAISO DA awards for:
  • Resources
  • Interties
  • Loads
• Reviewing EDAM & RT front-office workflow for merchant group
• Timeline for settlement statements and invoices
• Downloading settlement statements and invoices
• Understanding new EDAM charge codes
• Validating WEIM charge codes and managing settlement disputes
• Best practices for WEIM market operations

12:15 – 1:15 p.m. :: Lunch Break

1:15 – 3:00 p.m. :: Validating Charge Codes for Merchant Groups

• Understanding key DA & RT settlement charge codes for participating resources
• Reviewing WEIM back-office workflow for merchant group
• Computing DA energy payments for participating resources
• Computing DA imbalanced-energy payments for participating resources
• Computing DA GHG payments for participating resources
• Understanding CARB compliance
• Validating DA bid-cost recovery (BCR) payments
• Computing RT energy-imbalance payments and charges for participating resources
• Computing RT flexible-reserve payments for participating resources
• Validating RT GHG payments for participating resources
• Understanding WEIM administrative charges
• Best practices for WEIM back-office

3:00 – 3:15 p.m. :: Afternoon Break

3:15 – 5:00 p.m. :: Using WEIM and EDAM Settlement & P&L Metrics to Provide Feedback to Traders

• Using settlement and production-costing results to compute DA & DART Profits & Losses (P&L) for your resources
• Key factors influencing P&L
• Using P&L metrics to provide feedback to:
  • Traders on effectiveness of WEIM bidding strategies
  • Plant managers on plant performance
  • Build key performance indices
• Settlement forensics – where front and back offices meet
• Lessons learned for using business-intelligence tools to analyze settlement results and validate market operations
• Best practices for WEIM P&L feedback

5:00 p.m. :: Program Adjourns for Day

 

Friday, January 19, 2024 : Mountain Time

8:30 – 10:45 a.m. :: Validating WEIM and EDAM Charge Codes for BA Group

• Reviewing BA workflow in WEIM market in EDAM
• Understanding key DA & RT settlement charge codes for BA group
• Computing DA energy charges for loads
• Validating meter data for resources, tie lines, and loads
• Deadlines for submitting settlement quality meter data (SDMQ) to CAISO
• Computing energy-imbalance payments and charges for nonparticipating resources, interties, and loads
• Computing actual system loads
• Validating over/under scheduling penalties and credits
• Understanding WEIM offset charges for loads
• How does CAISO compute WEIM settlement charges for unaccounted-for-energy?
• How does CAISO handle DA overcollections for congestion and losses?
• Best practices for BA operations and settlements

10:45 – 11:00 a.m. :: Morning Break

11:00 a.m. – 12:15 p.m. :: Goals for Transmission Billing

• Understanding open access transmission tariff (OATT)
• Computing annual transmission revenue requirements
• Computing transmission charges for:
  • NITS customers
  • Point-to-point customers
  • Grandfathered agreements
• Revising OATT to reflect WEIM participation and settlement impacts
• Allocating WEIM settlement charges to transmission customers
• Using transmission billing to compute monthly invoices for transmission customers
• Best practices for transmission billing

12:15 – 1:15 p.m. :: Lunch Break

1:15 – 2:15 p.m. :: Goals for Transmission Billing (continued)

• Understanding open access transmission tariff (OATT)
• Computing annual transmission revenue requirements
• Computing transmission charges for:
  • NITS customers
  • Point-to-point customers
  • Grandfathered agreements
• Revising OATT to reflect WEIM participation and settlement impacts
• Allocating WEIM settlement charges to transmission customers
• Using transmission billing to compute monthly invoices for transmission customers
• Best practices for transmission billing

2:15 – 2:30 p.m. :: Afternoon Break

2:30 – 3:30 p.m. :: Preparing for EDAM

• What software tools and IT infrastructure are needed to support the front-office and back-office workflow in EDAM?
• Preparing key personnel (traders, power-plant managers, fuel procurement, risk managers, load forecasters, etc.) for EDAM
• Reviewing lessons learned from other markets

3:30 – 4:00 p.m. :: Course Review & Roundtable Discussion

4:00 p.m. :: Course Adjournment

Khai Le, Senior Vice President, PCI Energy Solutions

Over the past 45 years, Khai Le has conducted more than 750 seminars on market-based operations, trading and bidding strategies, portfolio optimization, and shadow settlement for utilities and ISOs worldwide. He is currently working with market participants in RTO and bilateral markets to deploy the PCI Suite to automate their bid-to-bill, portfolio-optimization, ETRM, and BA-operations workflows.    He has authored some 100 technical papers on unit commitment, hydro-thermal coordination, emission dispatch, optimization of ancillary services, post analysis, and short-term planning.  Five of his papers received prize awards.  Mr. Le received his BS from Harvey Mudd College and his MS from Carnegie Mellon University.  He is a Fellow of the IEEE and a Registered Professional Engineer in Pennsylvania.

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Justin Shearer, Vice President, PCI Energy Solutions

Justin Shearer is Vice President of Energy Solutions for PCI Energy Solutions, joining the firm in 2013.   He is involved in all phases of solution development, deployment, and consulting for market participants in the CAISO MRTU and WEIM markets.  He has been closely involved with the deployment of the firm’s products at more than 15 WEIM market participants   Before joining PCI, Mr. Shearer was a quality assurance team lead for a multi-billion dollar hedge fund and a security class actions analyst for a leading financial services firm. He earned both his bachelor’s degree  and MBA from the Price School of Business at the University of Oklahoma.

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Suiyi Su, Senior Director, PCI Energy Solutions

Suiyi Su is a Senior Director at PCI.  He has nearly a decade of working experience with settlements allocation, transmission billing, and energy accounting.  He has extensive experience working with WEIM participants on energy accounting, ETag, transmission scheduling, and transmission billing.    Mr. Su received his master’s degree in Industrial Engineering from the University of Florida.

This course is open to utilities, power and energy industry operating companies (see above), consumer groups, project developers and regulators only.  Registrations from software vendors and others that do not meet these criteria – or that may be construed as a competitive conflict – will be evaluated on a case-by-case basis and may not qualify for attendance.  Any determination as to the fulfillment of a registration to attend this program shall reside solely with EUCI.  Questions regarding the application of this restriction can be addressed to [email protected].

 

Note: In-person registration is Sold Out. You can still register for online.

Please Note: This event is being conducted entirely online. All attendees will connect and attend from their computer, one connection per purchase. For details please see our FAQ

If you are unable to attend at the scheduled date and time, we make recordings available to all attendees for 7 days after the event

REGISTER NOW FOR THIS EVENT:

CAISO WEIM Best Practices & Potential Impacts of EDAM

January 18-19, 2024 | Tempe, AZ

Your registration may be transferred to a member of your organization up to 24 hours in advance of the event. Cancellations must be received on or before December 15, 2023 in order to be refunded and will be subject to a US $195.00 processing fee per registrant. No refunds will be made after this date. Cancellations received after this date will create a credit of the tuition (less processing fee) good toward any other EUCI event. This credit will be good for six months from the cancellation date. In the event of non-attendance, all registration fees will be forfeited. In case of conference cancellation, EUCIs liability is limited to refund of the event registration fee only. For more information regarding administrative policies, such as complaints and refunds, please contact our offices at 303-770-8800

Credits

EUCI is accredited by the International Accreditors for Continuing Education and Training (IACET) and offers IACET CEUs for its learning events that comply with the ANSI/IACET Continuing Education and Training Standard. IACET is recognized internationally as a standard development organization and accrediting body that promotes quality of continuing education and training.

EUCI is authorized by IACET to offer 1.3 CEUs for this event

 

Instructional Methods  

This program will use PowerPoint presentations, case studies and group discussions. 

Requirements for a Successful Completion of Program  

Participants must log in each day and be in attendance for the entirety of the course to be eligible for continuing education credit. 

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Upon successful completion of this event, program participants interested in receiving CPE credits will receive a certificate of completion.

Course CPE Credits: 15.5
There is no prerequisite for this Course.
Program field of study: Specialized Knowledge
Program Level: Basic
Delivery Method: Group Live
Advanced Preparation: None

EUCI is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org