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2009 State of the Market Report

Market Performance

Figure 39: Changes in Supply, Day-Ahead to Real-Time 2009

4,000

3,000

Self-Committed in RT

Increased RT Dispatch Max

Change in Capacity (MW)

2,000

1,000

0

  • -

    1,000

Committed Capacity for Congestion Management

Derated in RT (Capacity not Cleared in DA)

Derated in RT (Capacity Cleared in DA)

Not Online in RT (Scheduled DA)

  • -

    2,000

Net Change in Capacity (DA minus RT)

  • -

    3,000

Jan

Feb

Mar Apr May

Jun

Jul

Aug

Sep

Oct

Nov Dec

The capability lost in real-time was partially offset by almost 1 GW of average increases in capacity from units scheduled in the day-ahead increasing their dispatch maximum in real-time and from self-scheduling of resources. For most months in 2009, the average capability lost from day-ahead to real-time was more than fully replaced. Most of this was in the form of self- scheduled resources that were not price sensitive.

C.

Revenue Sufficiency Guarantee Payments

This subsection reviews RSG payments that are made to generators committed by the Midwest ISO when the market revenues in the applicable Midwest ISO market are not sufficient to cover generators’ as-offered production costs. Resources that are not committed in the day-ahead market but must be started to maintain reliability are the most likely recipients of RSG payments. These are called “real-time” RSG payments because such units receive their LMP (and ASM) revenues from the real-time market. Because the day-ahead market is financial, it generates minimal RSG costs—a unit that is uneconomic will generally not be selected. Peaking resources are typically the most likely to warrant an RSG payment because they are generally the highest-

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