Exhibit 99.454
CALIFORNIA POWER EXCHANGE CORPORATION
FERC ELECTRIC SERVICE TARIFF Original Sheet No. 191
POWER EXCHANGE BIDDING AND BID EVALUATION
PROTOCOL (PBEP)
Issued by: Scott D. Rasmussen, General Counsel
Issued on: June 1, 1998 Effective: March 31, 1998
CALIFORNIA POWER EXCHANGE CORPORATION
FERC ELECTRIC SERVICE TARIFF Original Sheet No. 192
POWER EXCHANGE BIDDING AND BID EVALUATION PROTOCOL (PBEP)
TABLE OF CONTENTS
1 OBJECTIVES, DEFINITIONS AND SCOPE
1.1 Objectives
1.1.1 Applicable Provisions of the PX Tariff
1.1.2 The Role of the PX
1.2 Definitions
1.2.1 Master Definitions Supplement
1.2.2 Special Definitions for this Protocol
1.2.3 Rules of Interpretation
1.2.4 Communications
1.3 Scope
1.3.1 Scope of Application to Parties
1.3.2 Liability of PX
2 PX DAY-AHEAD BIDDING PROCEDURES FOR ENERGY TRADES
2.1 Timeline for Day-Ahead Bidding
2.2 Bid Data
2.2.1 Submission of Bids
2.2.2 Supply Bids
2.2.3 Demand Bids
2.3 Standing Bids and Default Bids
2.3.1 Standing Bids
2.3.2 Default Bids
2.4 Format for Day-Ahead Supply Bids and Demand Bids
2.4.1 Table of Price/Quantity Pairs
2.4.2 Price Inelastic Bids
2.4.3 Separate Supply Bids and Demand Bids
2.4.4 Format
2.5 Activity Rules
3 PX HOUR-AHEAD BIDDING PROCEDURES FOR ENERGY TRADING
4 BID VALIDATION
4.1 PX Security Amount
4.1.1 PX Security Amount Validation Check:
4.1.2 Notification of Failure of Validation Check
4.2 Validation of Bids
4.2.1 Initial Validation
4.2.2 Second Stage Validation
Issued by: Scott D. Rasmussen, General Counsel
Issued on: June 1, 1998 Effective: March 31, 1998
CALIFORNIA POWER EXCHANGE CORPORATION
FERC ELECTRIC SERVICE TARIFF Original Sheet No. 193
4.3 Notification of Errors and Rejection of Bids
5 ENERGY BID EVALUATION METHODOLOGY
5.1 Basis of Energy Bid Evaluation
5.2 Determining the Market Clearing Price (MCP)
5.3 Tied Bids
5.4 MCP when Intersecting Demand and Supply Segments are Vertical
5.5 Effect of Congestion Management on MCP
5.5.1 No Usage Charges
5.5.2 Usage Charges
5.6 Mitigation of Overgeneration
5.7 Publication of MCP Day-Ahead Information
5.7.1 Day-Ahead PX Participant Information
5.7.2 Day-Ahead Market Information
5.8 Procedures for Dealing with Anomalous Evaluation Results
5.8.1 Announcement of an Anomalous Result
5.8.2 Second Evaluation
6 ANCILLARY SERVICES
6.1 Self-Provision
6.1.1 Self Provision by the PX
6.1.2 Self-Provision by PX Participants
6.2 The ISO's Ancillary Services Auction
6.2.1 Submission of Ancillary Services Bids
6.2.2 Format and Content of Ancillary Services Bids
6.2.3 Validation of Ancillary Services Bids
6.2.4 Forwarding of Ancillary Services Bids to the ISO
7 SUPPLEMENTAL ENERGY BIDS
7.1 Bid Information
7.2 Timing of Bids
7.3 Submission of Bids by PX to ISO
8 ADJUSTMENT BIDS
8.1 Bid Information
8.2 Imports/Exports
8.3 Timing of Bids
8.4 Submission of Bids by PX to ISO
Issued by: Scott D. Rasmussen, General Counsel
Issued on: June 1, 1998 Effective: March 31, 1998
CALIFORNIA POWER EXCHANGE CORPORATION
FERC ELECTRIC SERVICE TARIFF Original Sheet No. 194
9 RECORDS
10 AMENDMENTS TO THE PROTOCOL
10.1 PX Determines a Need for an Amendment
10.2 Further Comment on the Proposed Amendment
10.3 PX Technical Advisory Committee Review
10.4 PX Governing Board Determination
10.5 Necessity for Immediate PX Governing Board Action
APPENDIX A - PX AUCTION ACTIVITY RULES
Issued by: Scott D. Rasmussen, General Counsel
Issued on: June 1, 1998 Effective: March 31, 1998
CALIFORNIA POWER EXCHANGE CORPORATION
FERC ELECTRIC SERVICE TARIFF Original Sheet No. 195
1 OBJECTIVES, DEFINITIONS AND SCOPE
1.1 OBJECTIVES
The objective of this Protocol (PBEP) is to facilitate the submission
of Supply Bids and Demand Bids by PX Participants to the PX and the
evaluation of those bids by the PX in the Day-Ahead Market for Energy
as described in the PX Tariff. This PBEP also provides for the
submission to the PX of Ancillary Services bids, Adjustment Bids and
Supplemental Energy bids by PX Participants for onward submission by
the PX to the ISO. Procedures in respect of the Hour-Ahead Market for
Energy will be added at a future time.
1.1.1 APPLICABLE PROVISIONS OF THE PX TARIFF
This Protocol (PBEP) must be read and interpreted in accordance with
the provisions of Section 3 of the PX Tariff.
1.1.2 THE ROLE OF THE PX
The PX operates an Energy auction for the Day-Ahead Market on behalf
of PX Participants and, in the future, the PX will operate an Energy
auction for the Hour-Ahead Market. The PX also acts as a Scheduling
Coordinator for certain PX Participants, while other PX Participants
have alternative arrangements for submitting Schedules to the ISO. In
the case of the latter group, not all provisions of this Protocol
(PBEP) are applicable.
1.2 DEFINITIONS
1.2.1 MASTER DEFINITIONS SUPPLEMENT
Unless the context otherwise requires, any word or expression defined
in the Master Definitions Supplement to the PX Tariff shall have the
same meaning when used in this Protocol. A reference to a Section or
an Appendix is a reference to a Section or an Appendix of the PX
Tariff. References to PBEP are to this Protocol or to the stated
paragraph of this Protocol.
1.2.2 SPECIAL DEFINITIONS FOR THIS PROTOCOL
In this PBEP, the following words and expressions shall have the
meanings set opposite them:
"ACTIVITY RULES" means The set of rules relating to the submission of
Supply Bids and Demand Bids in the PX's Energy auction and the set of
rules relating to the submission of Adjustment Bids to the PX by PX
Participants, prepared by the PX and as amended from time to time.
"ECONOMIC GENERATION" means Generation other than Reliability Must-Run
Generation, Eligible Regulatory Must-Take Generation or Eligible
Regulatory Must-Run Generation.
Issued by: Scott D. Rasmussen, General Counsel
Issued on: June 1, 1998 Effective: March 31, 1998
CALIFORNIA POWER EXCHANGE CORPORATION
FERC ELECTRIC SERVICE TARIFF Original Sheet No. 196
"MAXIMUM PRICE" means the maximum price ($/MWh) which may be specified
in a Demand Bid or a Supply Bid as notified by the PX to PX
Participants from time to time.
"MAXIMUM SIZE" means the maximum size (MWh) of a Demand Bid or a
Supply Bid as notified by the PX to PX Participants from time to time.
"MINIMUM PRICE" means the minimum price ($/MWh) which may be specified
in a Demand Bid or a Supply Bid as notified by the PX to PX
Participants from time to time.
"MINIMUM SIZE" means the minimum size (MWh) of a Demand Bid or a
Supply Bid as notified by the PX to PX Participants from time to time.
"PX HOME PAGE" means the PX Internet home page at http://www.calpx.com
or such other Internet address as the PX shall publish from time to
time.
"TA SYSTEM" means the electronic communications system used by the PX
and PX Participants to conduct, across the WEnet, the Day-Ahead
Market.
1.2.3 RULES OF INTERPRETATION
a) Unless the context otherwise requires, if the provisions of
this Protocol and the PX Tariff conflict, the PX Tariff will
prevail to the extent of the inconsistency. The provisions
of the PX Tariff have been summarized or repeated in this
PBEP only to aid understanding.
b) A reference in this Protocol to a given agreement, PX
Protocol or instrument shall be a reference to that
agreement or instrument as modified, amended, supplemented
or restated through the date as of which such reference is
made.
c) Any reference to a day, week, month or year is to a calendar
day week, month or year. All references to time are to
Pacific Time.
d) The captions and headings in this PBEP are inserted solely
to facilitate reference and shall have no bearing upon the
interpretation of any of the terms and conditions of this
Protocol.
e) This Protocol shall be effective as of January 1, 1998.
1.2.4 COMMUNICATIONS
In this Protocol (PBEP), references are made to the normal means of
electronic communication between the PX and the ISO (i.e., WEnet) and
the normal means of electronic communication between the PX and the PX
Participants (i.e., in the case of the Day-Ahead Market, the TA
System). In the event of a total or partial failure of the WEnet, the
alternative communication arrangements specified in the ISO Tariff and
Protocols shall apply. In the event of a total or partial failure of
the TA System, the alternative communication arrangements specified in
the PX Communication Protocol (PCP) and the PX Emergency Recovery
Protocol (PERP) shall apply.
Issued by: Scott D. Rasmussen, General Counsel
Issued on: June 1, 1998 Effective: March 31, 1998
CALIFORNIA POWER EXCHANGE CORPORATION
FERC ELECTRIC SERVICE TARIFF Original Sheet No. 197
1.3 SCOPE
1.3.1 SCOPE OF APPLICATION TO PARTIES
This PBEP applies to the PX and PX Participants.
1.3.2 LIABILITY OF PX
Any liability of the PX arising out of or in relation to this Protocol
shall be subject to Section 9 of the PX Tariff as if references to the
PX Tariff were references to this Protocol.
2 PX DAY-AHEAD BIDDING PROCEDURES FOR ENERGY TRADES
2.1 TIMELINE FOR DAY-AHEAD BIDDING
The Day-Ahead Market starts at 6:00 pm two days ahead of the Trading
Day and closes at 1:15 pm on the day ahead of the Trading Day when the
PX notifies each PX Participant of the details of the Final Day-Ahead
Schedules which pertain to that PX Participant. The timeline for the
Day-Ahead Market, including the timing for submitting bids, is
described in the PX Scheduling and Control Protocol (PSCP).
2.2 BID DATA
2.2.1 SUBMISSION OF BIDS
PX Participants wishing to participate in the PX Energy auction, which
leads to the production of the PX's Preferred Schedule for the
Day-Ahead Market, must submit bids which comply with the requirements
of this PBEP 2.2 and Section 3 of the PX Tariff. PX Participants may
submit bids up to 14 days in advance of the Trading Day.
2.2.2 SUPPLY BIDS
A Supply Bid (Generation or import) shall specify the effective Energy
(i.e. the amount of Energy at the Load center which can be determined
by taking a Generating Unit's planned actual output or import quantity
and adjusting that output or quantity by the GMM applicable to the
relevant Generator location or Scheduling Point). A Supply Bid must
include the following information for each Settlement Period of the
Trading Day:
a) the PX Participant's name and ID code;
b) the amount of effective Energy in each portfolio, segregated into
the following categories:
i) import;
ii) Eligible Regulatory Must-Take Generation;
iii) Eligible Regulatory Must-Run Generation;
Issued by: Scott D. Rasmussen, General Counsel
Issued on: June 1, 1998 Effective: March 31, 1998
CALIFORNIA POWER EXCHANGE CORPORATION
FERC ELECTRIC SERVICE TARIFF Original Sheet No. 198
iv) Economic Generation; or
v) Inter-Scheduling Coordinator Trade (sale);
c) the Settlement Period for which the bid applies;
d) the Trading Day for which the Day-Ahead bid applies (month, day
and year); and
e) the $/MWh values referred to in PBEP 2.4, which must be in the
format specified in PBEP 2.4.
2.2.3 DEMAND BIDS
A Demand Bid (Demand or export) shall include the following
information for each Settlement Period of the Trading Day:
a) the PX Participant's name and ID code;
b) the effective Energy in each Demand portfolio;
c) the Settlement Period for which the bid applies;
d) the Trading Day for which the bid applies (month, day and year);
and
e) the $/MWh values referred to in PBEP 2.4, which must be in the
format specified in PBEP 2.4.
2.3 STANDING BIDS AND DEFAULT BIDS
2.3.1 STANDING BIDS
[NOTE: THERE WILL BE NO PROVISION FOR STANDING BIDS ON 1.1.98]
2.3.2 DEFAULT BIDS
A PX Participant may provide the PX with a default bid file, in a form
specified by the PX, to be used by the PX as the bid of that PX
Participant for a Trading Day when and if:
a) the PX Participant has notified the PX, pursuant to PX
Communication Protocol (PCP) 2.1.2(a), that it is unable to use
the TA System; and
b) the PX Participant has authored the PX to utilize the bid in its
default bid file for that Trading Day.
Issued by: Scott D. Rasmussen, General Counsel
Issued on: June 1, 1998 Effective: March 31, 1998
CALIFORNIA POWER EXCHANGE CORPORATION
FERC ELECTRIC SERVICE TARIFF Original Sheet No. 199
2.4 FORMAT FOR DAY-AHEAD SUPPLY BIDS AND DEMAND BIDS
2.4.1 TABLE OF PRICE/QUANTITY PAIRS
Supply Bids and/or Demand Bids shall be prepared as a table listing
not more than sixteen (16) quantity-price pairs which, when taken
together, define a 15 segment piece-wise price/quantity curve. In
preparing the tables, a PX Participant must ensure that the following
restrictions are observed:
a) prices and quantities must comply with the significant figures
restriction and decimal place requirements of the relevant screen
in the TA System; namely, MWh to one decimal place (e.g., 10.2)
and $/MWh to two decimal places (e.g., $3.23);
b) quantities cannot be less than the Minimum Size nor more than the
Maximum Size(1);
c) prices must not be less than and must include the Minimum Price
and must not be more than and must include the Maximum Price;
d) for Supply Bids the piece-wise linear curve must show prices
which increase with quantity (i.e., the curve must not include
horizontal line segments (parallel to the quantity axis) but must
have an upward slope);
e) for Demand Bids the piece-wise linear curve must show prices
which decrease with quantity (i.e., the curve must not include
horizontal line segments (parallel to the quantity axis) but must
have a downward slope);
f) each Supply Bid and each Demand Bid must contain a minimum of two
(2) price-quantity pairs.
2.4.2 PRICE INELASTIC BIDS
If a PX Participant wishes to submit a bid which represents no price
elasticity, then, for the purposes of PBEP 2.4.1, the price-quantity
pairs in the table shall be defined as follows:
a) for an inelastic Demand (that is a Demand (Demand MWh) which must
be met irrespective of price), two price-quantity pairs should be
submitted as:
i) Maximum Price-Demand MWh; and
ii) Minimum Price-Demand MWh; and
b) for an inelastic Supply (that is a Supply (Supply MWh) which must
be sold irrespective of price), two price-quantity pairs should
be submitted as:
i) Minimum Price-Supply MWh; and
ii) Maximum Price-Supply MWh.
- ----------
(1) If a PX Participant specifies a quantity figure greater than the Minimum
Size, the TA System will, in the absence of Overgeneration, not allow the
PX Participant to trade Energy at a quantity level less than that
specified.
Issued by: Scott D. Rasmussen, General Counsel
Issued on: June 1, 1998 Effective: March 31, 1998
CALIFORNIA POWER EXCHANGE CORPORATION
FERC ELECTRIC SERVICE TARIFF Original Sheet No. 200
2.4.3 SEPARATE SUPPLY BIDS AND DEMAND BIDS
PX Participants that may be able either to buy or sell Energy, and
that wish to move between buying and selling depending on the Market
Clearing Price (e.g. a pumped storage plant), must submit a separate
Supply Bid and Demand Bid.
2.4.4 FORMAT
Where a PX Participant submits Supply Bids or Demand Bids to the PX,
otherwise than by means of the TA System (in accordance with the PCP),
it shall submit its bid data in the import format utilized by the TA
System.
2.5 ACTIVITY RULES
PX Participants must comply with the requirements of the Activity
Rules in connection with their participation in the PX's Energy
auction.
[NOTE: THE SCOPE OF THE ACTIVITY RULES WILL NOT EXTEND TO THE
SUBMISSION OF SUPPLY BIDS OR DEMAND BIDS UNTIL ITERATIONS ARE
INTRODUCED INTO THE PX'S ENERGY AUCTION. THE ACTIVITY RULES WILL,
HOWEVER, APPLY TO THE SUBMISSION OF ADJUSTMENT BIDS WITH EFFECT FROM
1.1.98 - SEE PBEP 8]
3 PX HOUR-AHEAD BIDDING PROCEDURES FOR ENERGY TRADING
[NOTE: THIS SECTION WILL BE FOR FUTURE USE, IN THAT THERE WILL BE NO
HOUR-AHEAD MARKET AS AT 1-1-98]
4 BID VALIDATION
4.1 PX SECURITY AMOUNT
4.1.1 PX SECURITY AMOUNT VALIDATION CHECK:
The PX will check following the issue of Final Schedules on each
Trading Day:
a) that each PX Participant that relies on maintaining an Approved
Credit Rating to enable it to trade in the PX Energy auction
still holds a credit rating which qualifies as an Approved Credit
Rating; and
b) that each PX Participant that is required to provide guarantees
or other forms of credit support, pursuant to Section 2.4 of the
PX Tariff, to enable it to trade in the PX Energy auction, does
not have outstanding aggregate commitments for net purchases of
Energy (in kWh) which, when multiplied by the PX Indicative
Price, would exceed 100% of the PX Security Amount provided by
the PX Applicant.
4.1.2 NOTIFICATION OF FAILURE OF VALIDATION CHECK
The PX will notify, via the TA System, any PX Participant which fails
the validation check described in PBEP 4.1.1. All bids submitted by a
PX Participant prior to such notification
Issued by: Scott D. Rasmussen, General Counsel
Issued on: June 1, 1998 Effective: March 31, 1998
CALIFORNIA POWER EXCHANGE CORPORATION
FERC ELECTRIC SERVICE TARIFF Original Sheet No. 201
will be treated as validly submitted but, following notification, the
PX Participant in question will not be entitled to submit any further
bids under this PBEP and will be denied access to the TA System, until
such time as it is able to pass the validation check as a consequence
of the provision of additional guarantees or other credit support or
by reducing its outstanding commitments for net purchases of Energy.
4.2 VALIDATION OF BIDS
4.2.1 INITIAL VALIDATION
The PX shall, immediately following receipt of each Demand Bid and
each Supply Bid, undertake an initial validation to ensure that:
a) price and quantity data have been included for each
Settlement Period in the Trading Day; and
b) bid prices and quantities comply with the requirements of
PBEP 2.4.
4.2.2 SECOND STAGE VALIDATION
The PX shall, in accordance with the timing requirements of the PSCP,
undertake a second stage validation of each Supply Bid and each Demand
Bid to ensure that (otherwise than in respect of those matters checked
under PBEP 4.2.1) the bid is compliant with the requirements of this
PBEP.
4.3 NOTIFICATION OF ERRORS AND REJECTION OF BIDS
Non-conforming and / or late bids will be rejected by the PX. Bids
received that fail validation due to invalid bid format or violating
the limits specified in the Master File or violation of the Activity
Rules will also be rejected. If a corrected bid is received in time,
it will be included in the PX evaluation process.
5 ENERGY BID EVALUATION METHODOLOGY
5.1 BASIS OF ENERGY BID EVALUATION
Following the validation of all Supply Bids and Demand Bids, the PX
will begin the evaluation of bids on the basis of price and in
accordance with this PBEP 5.
5.2 DETERMINING THE MARKET CLEARING PRICE (MCP)
On each Trading Day, the PX shall, for each Settlement Period in that
Trading Day, create an aggregate Energy Supply curve by combining all
Supply Bids and an aggregate Energy Demand curve by combining all
Demand Bids. If at least one of the intersecting Demand and Supply
segments has a non-zero and non-infinite slope, or if one of the
intersecting segments is vertical and the other non-vertical, the
point of intersection will be determined by a direct calculation. The
initial Market Clearing Price will then be set at the intersection
price, so that all PX Sellers with a portion of their output priced at
or below the initial
Issued by: Scott D. Rasmussen, General Counsel
Issued on: June 1, 1998 Effective: March 31, 1998
CALIFORNIA POWER EXCHANGE CORPORATION
FERC ELECTRIC SERVICE TARIFF Original Sheet No. 202
Market Clearing Price will be selected to submit Disaggregated Bids
under the PSCP at their corresponding Generation levels, and all
Demand priced at or above the Market Clearing Price will be selected
to submit Disaggregated Bids under the PSCP for the corresponding
Demand. If there is no Inter-Zonal Congestion when all Preferred
Schedules are submitted to the ISO by the PX and other SCs, the
initial Market Clearing Price will become final. If there is more than
one point of intersection, the Market Clearing Price will be
determined in accordance with PBEP 5.4. If there is no point of
intersection because all Demand Bid prices are lower than the lowest
priced Supply Bid (after netting out all non-economic Generation and
an equal quantity of Demand), no Energy will be traded, other than
Energy associated with non-economic Generation.
5.3 TIED BIDS
All tied bids shall be resolved on a pro rata basis, except that, when
the MCP equals the Minimum Price, quantities associated with Eligible
Regulatory Must-Take Generation, Eligible Regulatory Must-Run
Generation and Reliability Must-Run Generation will not be prorated.
5.4 MCP WHEN INTERSECTING DEMAND AND SUPPLY SEGMENTS ARE VERTICAL
If both intersecting Demand and Supply segments are vertical (that is
are parallel with the price ($/MWh) axis of graph) and overlap, then
the Demand to be met and the Supply Bids accepted will be the common
quantity (MWh) coordinate, and the Market Clearing Price (MCP) will be
set at the higher of the lowest Demand Bid price and the lowest Supply
Bid price at this MWh level.
5.5 EFFECT OF CONGESTION MANAGEMENT ON MCP
5.5.1 NO USAGE CHARGES
If the ISO does not perform Congestion Management on a Trading
Day, or if Congestion Management is undertaken but the Final
Schedule for the PX is unchanged from the Preferred Schedule and
no Usage Charges are set by the ISO, then the MCP determined in
accordance with the foregoing provisions of this PBEP 5 will be
the MCP in each Zone for the relevant Trading Day.
5.5.2 USAGE CHARGES
If the ISO performs Congestion Management on a Trading Day and
the Final Schedule for the PX is changed from the Preferred
Schedule for any Settlement Period, the PX shall, in
circumstances where the ISO has set Usage Charges, recalculate
the MCP for each Zone, in accordance with Sections 3.9.2.7 and
3.9.2.8 of the PX Tariff.
5.6 MITIGATION OF OVERGENERATION
If the PX identifies PX Overgeneration in the course of the Energy bid
evaluation process, it shall manage the situation in accordance with
the following steps:
Issued by: Scott D. Rasmussen, General Counsel
Issued on: June 1, 1998 Effective: March 31, 1998
CALIFORNIA POWER EXCHANGE CORPORATION
FERC ELECTRIC SERVICE TARIFF Original Sheet No. 203
STEP 1: the PX shall reject all Supply Bids received from PX
Participants in the PX auction other than Supply Bids relating to
Eligible Regulatory Must-Take Generation and Eligible Regulatory
Must-Run Generation; and
STEP 2: if PX Overgeneration remains following the completion of Step
1 above, the PX shall determine the total quantity of Supply Bids
relating to Eligible Regulatory Must-Run Generation and Eligible
Regulatory Must-Take Generation which must be rejected. This quantity
will be allocated between PX Participants for the relevant Settlement
Period by multiplying their aggregate Supply Bids by a PX Participant
specific factor, calculated as follows:
[F(i) = max [(Gen(i) - Demand(i)30]/(sum) max[(Geni-Demandi),0]]
where:
Fi is the factor by reference to which PX Participant i's share
of the required reduction in Eligible Regulatory Must-Take
Generation and Eligible Regulatory Must-Run Generation is
calculated for the relevant Settlement Period;
Geni is the aggregate of Supply Bids relating to Eligible
Regulatory Must-Take Generation and Eligible Regulatory
Must-Run Generation offered in the PX auction by PX
Participant i for the relevant Settlement Period (in MWh);
Demandi is the aggregate of Demand Bids offered in the PX auction
from PX Participant i for the relevant Settlement Period (in
MWh);
(sum) is the summation for all PX Participants for the relevant
Settlement Period.]
5.7 PUBLICATION OF MCP DAY-AHEAD INFORMATION
5.7.1 DAY-AHEAD PX PARTICIPANT INFORMATION
The PX will, in accordance with the timing requirements of the
PSCP, notify, via the TA System, each PX Participant of the
following information relating to that PX Participant:
a) the PX Participant's name;
b) its portfolio identification code(s);
c) the Trading Day (month, day and year) for which the information
is being given;
d) the Demand Bids accepted from the PX Participant for each
Settlement Period (MWh);
e) the Supply Bids accepted from the PX Participant for each
Settlement Period (MWh); and
f) the Market Clearing Price for each Settlement Period ($/MWh).
Issued by: Scott D. Rasmussen, General Counsel
Issued on: June 1, 1998 Effective: March 31, 1998
CALIFORNIA POWER EXCHANGE CORPORATION
FERC ELECTRIC SERVICE TARIFF Original Sheet No. 204
5.7.2 DAY-AHEAD MARKET INFORMATION
The PX will, for each Trading Day, publish on the PX Home Page
the following information:
a) an identification of the Trading Day (month, day and year)
for which the information is being given;
b) the Market Clearing Price for each Settlement Period ($/MWh)
and, where applicable, for each Zone;
c) the aggregate Demand for which Demand Bids were accepted for
each Settlement Period (MWh); and
d) the aggregate Supply for which Supply Bids were accepted for
each Settlement Period (MWh).
5.8 PROCEDURES FOR DEALING WITH ANOMALOUS EVALUATION RESULTS
5.8.1 ANNOUNCEMENT OF AN ANOMALOUS RESULT
If the evaluation by the PX of all Supply Bids and Demand Bids for a
Trading Day yields a result that is, in the opinion of the PX,
significantly anomalous, the PX shall notify each PX Participant, via
the TA System, that the evaluation has produced an anomalous result
and that PX Participants have the option of submitting new bids. The
notice shall specify the timing requirements for the submission of new
bids and the PX may adjust the timing requirements in the PX
Scheduling and Control Protocol (PSCP) for this purpose. The results
of the initial evaluation shall not be disclosed by the PX to any PX
Participant.
5.8.2 SECOND EVALUATION
If a PX Participant submits a new bid, then that bid will be used for
the purpose of a second evaluation. If a PX Participant does not
submit a new bid in response to the notice in PBEP 5.8.1, then the
previously submitted bid of that PX Participant for that Trading Day
shall be used for the second evaluation. Following the timely
submission of any new bids, the PX will conduct and publish the
results of the second evaluation, in accordance with Sections 5.2
through 5.7 of this PBEP, again subject to any necessary modification
of the timing requirements in the PSCP.
6 ANCILLARY SERVICES
6.1 SELF-PROVISION
6.1.1 SELF PROVISION BY THE PX
Until such time as the PX Governing Board may otherwise decide, the PX
will not self-provide Ancillary Services. The PX shall purchase all
Ancillary Services required for the implementation of its Schedule
through the ISO's Ancillary Services auction.
Issued by: Scott D. Rasmussen, General Counsel
Issued on: June 1, 1998 Effective: March 31, 1998
CALIFORNIA POWER EXCHANGE CORPORATION
FERC ELECTRIC SERVICE TARIFF Original Sheet No. 205
6.1.2 SELF-PROVISION BY PX PARTICIPANTS
Until the PX engages in self-provision of Ancillary Services as
described in PBEP 6.1.1, PX Participants may not self-provide
Ancillary Services.
6.2 THE ISO'S ANCILLARY SERVICES AUCTION
6.2.1 SUBMISSION OF ANCILLARY SERVICES BIDS
PX Participants who wish to participate in the ISO's Ancillary
Services auction may do so by submitting Ancillary Services bids to
the PX through the TA System, in accordance with the timing
requirements of the PSCP. Any bid for Ancillary Services must be in
the format and contain the information specified in PBEP 6.2.2.
6.2.2 FORMAT AND CONTENT OF ANCILLARY SERVICES BIDS
An Ancillary Services bid shall include the following information as
appropriate for the type of Ancillary Service, for each Settlement
Period of the Trading Day:
a) PX Participant name and ID code;
b) Ancillary Service type:
i) Regulation;
ii) Spinning Reserve;
iii) Non-Spinning Reserve; or
iv) Replacement Reserve;
c) Resource ID;
d) Settlement Period for which the bid applies;
e) Trading Day for which the bid applies;
f) the $/MWh values for the Energy supplied (which shall be the same
for each of the four Ancillary Service types);
g) the lower and upper operating limits for each resource;
h) ramp rate;
i) capacity reservation prices (in $/MW), which may be different for
each type of Ancillary Service;
j) Regulation range both up and down;
k) Spinning Reserve, Non-Spinning Reserve or Replacement Reserve
quantity in MW;
l) the time period required to reach synchronization (this must be
the same value for all 24 Settlement Periods for a particular
resource).
Issued by: Scott D. Rasmussen, General Counsel
Issued on: June 1, 1998 Effective: March 31, 1998
CALIFORNIA POWER EXCHANGE CORPORATION
FERC ELECTRIC SERVICE TARIFF Original Sheet No. 206
6.2.3 VALIDATION OF ANCILLARY SERVICES BIDS
The following validation checks are performed by the PX when an
Ancillary Services bid is input into the TA System:
a) values, which may include zero, are given for all 24 Settlement
Periods;
b) price breakpoints increase monotonically;
c) quantities are given for all prices; and
d) required values have been entered into valid fields for each
Ancillary Service which the Ancillary Services bid covers.
6.2.4 FORWARDING OF ANCILLARY SERVICES BIDS TO THE ISO
The PX will forward the valid PX Participant's Ancillary Services bids
it has received to the ISO, in accordance with the timing requirements
of the PSCP and in the format and with the content specified in the
ISO's Schedules and Bids Protocol (SBP).
7 SUPPLEMENTAL ENERGY BIDS
7.1 BID INFORMATION
Supplemental Energy bids for use by the ISO in the Real Time Market
must be submitted in the format and include the information specified
in the SBP.
7.2 TIMING OF BIDS
PX Participants may, via the TA System, submit Supplemental Energy
bids to the PX for forward submission to the ISO not later than
fifteen (15) minutes before the deadline established by the ISO for
the submission of such bids by the PX. Withdrawal of any such
Supplemental Energy bids must be submitted to the PX at least fifteen
(15) minutes prior to the deadline for withdrawal of Supplemental
Energy bids established by the ISO. Withdrawal may be accomplished by
submitting a new Supplemental Energy bid that replaces the previous
Supplemental Energy bid, but has quantity equal to the Final Scheduled
quantity.
7.3 SUBMISSION OF BIDS BY PX TO ISO
The PX will forward to the ISO any Supplemental Energy Bids received
by it from PX Participants by any deadlines established by the ISO for
the submission of Supplemental Energy bids, in accordance with the
SBP.
Issued by: Scott D. Rasmussen, General Counsel
Issued on: June 1, 1998 Effective: March 31, 1998
CALIFORNIA POWER EXCHANGE CORPORATION
FERC ELECTRIC SERVICE TARIFF Original Sheet No. 207
8 ADJUSTMENT BIDS
8.1 BID INFORMATION
PX Participants must, via the TA System, submit, to the PX, Adjustment
Bids for non-Regulatory Must Take Generation and non-Regulatory
Must-Run Generation initial Preferred Schedules for use in Congestion
Management in the Day-Ahead Market, in the format and with the
information specified in the SBP. Adjustment Bids must specify for
Generators, the effective Energy the amount of Energy at the Load
center which can be determined by taking a Generating Unit's actual
output or import quantity and adjusting that output or quantity by the
GMM applicable to the relevant Generator location or Scheduling Point.
The Generator Adjustment Bids must include zero quantity and must be
compliant with the requirements of the Activity Rules.
If a Preferred Schedule is received that does not include an
Adjustment Bid, the PX will either:
(a) request an Adjustment Bid from the Participant submitting the
Schedule; or
(b) provide a default decremental Adjustment Bid at the uncongested
MCP; or
(c) if necessary due to PX operational considerations, forward the
Preferred Schedule to the ISO without an Adjustment Bid.
8.2 IMPORTS/EXPORTS
A PX Seller bidding into the PX's Energy auction in respect of Energy
to be imported into the ISO Controlled Grid must submit, or a PX Buyer
bidding into the PX's Energy auction in respect of Energy to be
exported from the ISO Controlled Grid, may submit an Adjustment Bid
via the TA System Import Adjustment Bids must meet the same
requirements as Generating Units in Section 8.1.Timing of Bids
PX Participants must submit any Adjustment Bids to the PX for onward
submission to the ISO in accordance with the timing requirements of
the PSCP.
8.3 SUBMISSION OF BIDS BY PX TO ISO
The PX will forward to the ISO any Adjustment Bids received by it from
PX Participants under PBEP 8.2, with the PX's Preferred Schedule, in
accordance with the timing requirements of the PSCP.
9 RECORDS
The PX shall maintain such records of PX Participants' bidding data
and for such periods as the PX considers to be reasonably necessary
for the purposes of:
a) the requirements of the PX market monitoring Compliance Unit,
pursuant to the PX Market Monitoring and Information Protocol
(PMMIP); and
b) complying with its obligations under Section 10 (Audits) of the
PX Tariff.
Issued by: Scott D. Rasmussen, General Counsel
Issued on: June 1, 1998 Effective: March 31, 1998
CALIFORNIA POWER EXCHANGE CORPORATION
FERC ELECTRIC SERVICE TARIFF Original Sheet No. 208
10 AMENDMENTS TO THE PROTOCOL
10.1 PX DETERMINES A NEED FOR AN AMENDMENT
The PX shall periodically review this Protocol, in consultation with
PX Participants. If the PX determines, as a result of this review, or
otherwise, that there is a need to amend this Protocol, the PX will
publish a notice giving details of the proposed amendment on the PX
Home Page. Any PX Participant shall be entitled to submit comments on
the proposed amendment to the PX, within 10 days of such publication.
Following receipt of such comments, the PX will submit its proposed
amendment to the PX Technical Advisory Committee ("PX TAC") and will
publish a notice of the proposed amendment on the PX Home Page.
10.2 FURTHER COMMENT ON THE PROPOSED AMENDMENT
The PX TAC will give all PX Participants a further opportunity (in
light of the extent of the proposed amendment, not exceeding 30 days)
to submit comments to the PX TAC.
10.3 PX TECHNICAL ADVISORY COMMITTEE REVIEW
The PX TAC will be given a reasonable opportunity to review the
proposed change to this Protocol and may submit its recommendations to
the PX Governing Board.
10.4 PX GOVERNING BOARD DETERMINATION
The PX Governing Board will review the proposed amendment along with
any PX TAC recommendation and may pass a resolution to amend the
Protocol. Any amended PX Protocol will be published on the PX Home
Page, along with an announcement acknowledging that the amendment has
been approved and the date on which it is to come into force (which
shall be at least 30 days after the date of the announcement).
10.5 NECESSITY FOR IMMEDIATE PX GOVERNING BOARD ACTION
The PX Governing Board may, if it considers that an amendment to this
Protocol is reasonably required to address an emergency or is required
to correct a drafting error, implement an amendment prior to or during
the procedure described in 10.1 to 10.4 of this Protocol, provided
that the PX completes such procedure fully, as soon as possible. In
light of the subsequent comments and recommendations that the PX
receives, the PX Governing Board may change its amendment.
Issued by: Scott D. Rasmussen, General Counsel
Issued on: June 1, 1998 Effective: March 31, 1998
CALIFORNIA POWER EXCHANGE CORPORATION
FERC ELECTRIC SERVICE TARIFF Original Sheet No. 209
APPENDIX A
PX AUCTION ACTIVITY RULES
[NOTE: THE SCOPE OF THESE AUCTION ACTIVITY RULES IS LIMITED TO ADJUSTMENT BIDS.
FURTHER AUCTION ACTIVITY RULES WILL BE DEVELOPED TO COVER THE SUBMISSION OF
DEMAND BIDS AND SUPPLY BIDS ONCE ITERATIONS ARE INTRODUCED INTO THE PX'S ENERGY
AUCTION.]
ADJUSTMENT BIDS
A PX Participant submitting Adjustment Bids to the PX for onward submission
to the ISO under PBEP 8 shall ensure that:
a) in the case of a Supply Market Participant, any increase in Generation
or import is offered at a price equal to or above the initial Market
Clearing Price and any decrease in output is offered at a price equal
to or below the initial Market Clearing Price; and
b) in the case of a Demand Market Participant, any increase in Demand or
export is offered at a price equal to or below the initial Market
Clearing Price and any decrease in Demand or export is offered at a
price equal to or above the initial Market Clearing Price.
Issued by: Scott D. Rasmussen, General Counsel
Issued on: June 1, 1998 Effective: March 31, 1998