1. Interval ‘Meter’ Data in MISO Market Settlements
Presented to: 2005 AEIC Load Research Annual Meeting
By: Michael J. Amiss
Sr. Market Settlements Analyst

2. Interval ‘Meter’ Data in MISO Market Settlements
Midwest ISO
MISO Competitive Energy Markets
‘Meter’ Data
Market Settlement Activities

3. Acronyms Ahead! LDC- Local Distribution Company
LMP – Locational Marginal Price
LSA – Local Security Administrator
MCC – Marginal Congestion Component
MDMA – Meter Data Management Agent
MEC – Marginal Energy Component
MLC – Marginal Loss Component
MMI – Midwest Market Initiative
MP – Market Participant
NAI – Net Actual Interchange
NSI – Net Scheduled Interchange
PSS – Physical Scheduling System
RT – Real-Time
RTO – Regional Transmission Organization
SAS(70) – Statement on Auditing Standards #70
SCED – Security Constrained Economic Dispatch
SE – State Estimator
TO – Transmission Owner
UFE – Unaccounted for Energy (residual load)
XML – Extensible Markup Language
AO – Asset Owner
API – Application Programmatic Interface
BA – Balancing Authority
BPM – Business Practices Manual
CA – Control Area
CPNode – Commercial Pricing Node
DA – Day-Ahead
DART – Day-Ahead Real-Time
DRR – Demand Response Resource
EMT – Energy Market Tariff
EPNode – Elemental Pricing Node
FTR – Financial Transmission Right
GFA – Grandfather Agreement
ICCP – Inter Control Center Protocol
IMM – Independent Market Monitor
ISO – Independent System Operator
JOU – Jointly Owned Unit

4. ISO/RTO Map

6. Control Areas within the MISO Reliability Monitoring Area
Control Areas within the MISO Reliability Monitoring Area
Alliant Energy – East
MidAmerican Energy Company
Alliant Energy – West
Michigan Electric Coordinated System
Ameren Transmission
Madison Gas and Electric Company
Aquila Networks – Missouri Public Service
Manitoba Hydro, Transmission Services
Aquila Networks – West Plains Kansas
Minnesota Power, Inc.
Central Illinois Light Co
Muscatine Power and Water
Cinergy Corporation
Northern Indiana Public Service Company
Columbia Water & Light
Nebraska Public Power District
City Water Light & Power
Northern States Power Company
Duke Energy – Vermillion
Omaha Public Power District
Dairyland Power Cooperative
Otter Tail Power Company
First Energy Corp
Southern Indiana Gas & Electric Co
Great River Energy
Southern Illinois Power Cooperative
Hoosier Energy
Southern Minnesota Municipal Power Agency
Illinois Power Co
Upper Peninsula Power Co
Indianapolis Power & Light
Western Area Power Administration UGPR
Lincoln Electric System
Wisconsin Energy Corporation
LG&E Energy Transmission Services
Wisconsin Public Service Corporation

7. Carmel Control Center

11. Midwest Market Initiative
Midwest Market Launch
April 1, 2005
00:00:01 EST

13. Why a Midwest administered Market?
Create a framework for robust, transparent and competitive electric markets.
Markets work better when there are many buyers and sellers
Competition yields lower prices
Sellers will build if there’s an opportunity to earn a return commensurate with the risks.
Competitive markets are efficient!
Maximizing consumer welfare
‘Correct’ allocation of scarce resources
Production at lowest cost
Enhance system reliability

14. Day-Ahead & Real-Time Markets
Day Ahead (DA) Market
Forward Market that provides risk management to Real Time Market
Opportunity to schedule transactions
Opportunity to set up Generation Offers – Demand Bids
Real Time (RT) Market
Continuous process of balancing supply and demand at the least cost using security constrained economic dispatch (SCED) to manage congestion and produce LMPs.
Balancing market from DA
Operations that are going on right now
Schedules that are flowing right now

15. Market Activities

16. Key Market Participants
May or may not have assets
Marketer
Load Serving
Entity
Generation
Owner
Transmission
Owner

17. Market Participants Supply Market Demand
Offers
Generation Supplier bids (sets price they are willing to take for) generation into the market
Demand
Bids
Demand
MISO assesses the appropriateness of the bids and offers and contacts as needed
To understand fully the Real-time processes for a Balancing Authority under the Midwest Market, we must begin with the day ahead.
The Day Ahead Market provides the Market Participant greater price certainty. Market Participants will be able to take a Day-Ahead position on their generation or consumption. This position will allow them to achieve price certainty for their Real-Time activities since DA Pricing is published prior to the real-Time market. Generators and loads that are selected Day-Ahead will have a financial commitment and incentive to consume or generate a quantity in Real-Time equal to the amount selected in Day-Ahead.
By providing price certainty, the Day-Ahead Market will reduce the impact of price volatility that may arise in the Real-Time Market.
The day ahead process includes generation and load bids that are submitted to and accepted by the MISO market. This is a purely market process that once completed and the market is closed the reliability processes starts.
The load bids also called Demand Bids are the key component of the “demand” side of the market. Demand Bids provide the ability for Load Serving entities to buy to supply load at a day-ahead price.
The key to the day ahead market is matching the supply output and pricing to the demand intake and pricing.
(press the enter or page up key)
Load Serving entity bids (sets price they are willing to pay to supply) load into the market

18. Commercial Model
The Commercial Model is a Financial representation of the Physical Network Model used to facilitate operations and settlement
MISO MP
Market Participant
Generator Owner
Load Resource Owner
Marketer
Asset Owner
Can be Generation or Load Resource
CPNode
Commercial Pricing Node
The published LMP represents the price at the CPNode
The Commercial Model represents the Commercial Nodes and the Market Participants for which the energy markets function. The Commercial Model is a representation of the relationships between Market Participants and their Resources, Commercial Nodes and their transactions in the Energy Markets. The Commercial Model is a financial representation of the Physical Network Model used to facilitate operations and settlement
The Commercial Model contains information used to identify assets, owners of assets, and the asset owner’s representative Market Participant. The Commercial model is made up of EPNodes, CP Nodes, Assets, Asset Owners, and Market participants
The Elemental Pricing Node is the lowest level of the hierarchy of data in the Commercial Model. EP Nodes are directly related to the Network model and can be either Generation EPNodes, Load Zone EPNodes or Non inject/ Non withdrawal Nodes EPNodes. Generation EPNodes have a 1 to 1 relationship with Generation units, Load EP Nodes have a 1 to 1 relationship with Loads and Non Injection Non Withdrawal EPNodes have a 1 to 1 relationship to a transmission bus node that does not have generation or load directly associated to it (for example the representation of a hub).
CP Nodes is the next level in the model, with CP nodes representing one or more CPNodes. CPNodes can be either Generation, Combined Cycle Collection, Dynamically Scheduled JOUs , Load Zone, External Interface, Dynamically scheduled External Interface, Hubs, External Pseudo Tie Generators or Loads, and demand Response Resource. CP Nodes must be assigned to an asset and these assets must be assigned to an asset owner.
In general, a single generation asset will have one asset owner and will be represented by one CPNode. In General, Load EP nodes will have a many to 1 relationship with CPNodes, except in the case of isolated municipal or industrial load asset that has only one elemental load point in the Network model. EP Loads must be aggregated into Load Zone Assets and must be associated with an asset owner
Each asset in the model must be represented by an Asset Owners. This is the operating entity level where all bid and offer data submittals, portal security, settlement statement aggregation, and internal and external transactions are conducted. Asset Owners can own any combination of generation or load. Asset Owners must be represented by a Market Participant.
The Market Participant represents the highest-level of the Commercial model. The MP is the entity that is financially obligated to the MISO for market settlements. A MP can have associations with one or more asset owners.
Elemental Nodes or ENodes shown on the bottom of the diagram are a component of the Network Model (not the Commercial model) but provide a tie to the relationship between the Network Model and the Commercial Model. The Elemental node is the physical point of injection or withdrawal from the system.
EPNode
Elemental Pricing Node
Lowest Hierarchy in the Commercial Model
ENode
Elemental Node
Component of the Network Model not Commercial Model
Physical point of injection or withdrawal to the system

19. Commercial Model Entity RelationshipMP MP
Asset Owner
Asset Owner
CPNode
CPNode
CPNode
CPNode
EPNode
EPNode
EPNode
EPNode
This diagram shows the various relationships between EPNodes and CP Nodes. The first column highlights a generation asset. This is a typical Generation asset since most generators have a one to one relationship with one EPNode to One CPNode.
With the next 2 arrows, each load is represented by the EP Node but the 2 EPNodes are represented by a single CPNode or Load Zone.
The last arrow on the bottom right of the page could represent a Dynamically Scheduled Joint Owned Unit. A different CPNode will represent each portion of the JOU that is owned by different asset owners. In the Network model, a single generation unit is modeled and represented in the Commercial model by the EPNode. The Commercial model will have multiple CPNodes related to the single EPNode or generation unit. Each asset owner will represent their interest in the unit by a CPNode.
One EP Node to One CPNode
Many EP Nodes to One CPNode
One EP Node to Many CPNodes

20. Market Activities

21. Meter Data Management Agents (MDMA’s)
All Market Participants that own assets within MISO report, through their designated MDMA, hourly real- time meter injection and withdrawal volumes for each of their asset Commercial Nodes (e.g. ‘Meter Data’)
‘Meter Data’ may be:
Actual Meter Data
Estimated Meter Data (Day-Ahead Forecasts or Schedules, SCADA aggregated data, or profiled)
Initially Estimated Meter Data that has been submitted to MISO that has been subsequently updated using Actual Meter Data when available.

22. Market Participant – Meter Data Management Agent (MDMA) Relationship

23. Market Activities

24. Market Activities MP – MDMA Relationship

25. Meter Data Management Agents (MDMA’s) in June ’05 Commercial Model:

26. The MDMA is responsible for submitting ‘Settlement Quality Meter Data’ to MISO
Accurate and complete measurement or estimation of actual hourly MWh injection and withdrawals volumes for each designated Market Participant’s asset Commercial Nodes.
Aggregated (from Elemental Nodes) to the Asset Resource level (CP Node) consistent with the MISO Commercial Model including sub-transmission distribution losses and station auxiliary load where applicable.
Where Validation, Estimation, and Editing (VEE) has been performed by the MDMA to ensure accuracy and completeness prior to submittal to MISO.
Passes Market Settlement’s automatic validation controls – Initial (Portal) and Internal (preliminary data acquisition) validation process controls.
Meets the above listed requirements with timely electronic submittal to Market Settlements in advance of S7, S14, S55 and S105 allowing for settlement of the market.

27. MISO Meter Data Process

28. Market Activities MDMA

29. Market Settlements

30. Meter Data File Format Standards
XML format only
MWh is the standard unit of measure
Truncated past 3 decimal (kWh) places
24 intervals for each consecutive operating day
Eastern Standard Time (EST)
Submitted values represent ‘net’ injection or withdrawal
Negative (-) values represent injection
Positive (+) values represent withdrawal
Meter Data may represent:
Actual Meter Data
Estimated Meter Data
Profiled Meter Data
Should be submitted by noon before scheduled settlement execution

31. Market Activities MDMA Meter Data Submission

32. Meter Data Files Process Flow

33. ‘Meter Data’ Validation Measures

34. Market Activities Metering/Settlement Relationship

35. Market Settlements

36. Market Settlement

37. Settlement System Interfaces

38. Market Activities

39. Market Activities Charge Types

40. Settlement Charge Type Categories

41. Day-Ahead Charge Types

42. Real-Time Charge Types
Characteristic of Real-Time Charge Types:
Results from real time market activities
Appear on real time settlement statement
Calculated on a hourly and daily basis by trade date

43. FTR Charge Types

44. Market Activities Settlement Statements

45. Real-Time Settlement Asset Energy Amount

46. Settlements

47. Settlement Example

48. Real-Time Market Settlement Activity with Financial Bilateral Transactions

49. Real-Time Asset Energy Amount

50. MISO ‘Meter Data’ Analyst vs. Load Research Analyst - Comparison -
Similarities:
Time-Series Data
Systems Intensive
Energy Data Analytics
Applications
Not a ‘High Profile’ Function
Differences:
Data Not Sample Based
‘Asset’ or Population Data vs. Sample Point
Collection Methodology
Data Highly Aggregated
MWh vs. kWh
60 vs. 15 Minute basis

51. For more information on the settlement of the MISO Day-Ahead, Real-Time, and FTR Competitive Markets refer to the Business Practices Manual for Market Settlements located at: Market Procedures Documents and Technical Manuals / Business Practices Manuals / Manual 005 BPM for Market Settlements