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Finally, on governence issues we should argue for a narrowe role for the ISO as a way of diffusing the emotional governence debate. | dev37 |
Analogy: if the ISO is simply the air traffic controller all parties will simply be interested in retaining the most technically competent people (not hiring or appointing their lackies or friends). | dev37 |
So long as the ISO has a role in setting prices, acquiring supplies or running the market, it is destined to be controversial and highly politicized. | dev37 |
Those functions should be left to the market. | dev37 |
per voicemail | dev37 |
per our discussion. | dev37 |
Want to schedule a tour and want to make sure that Marchris is avail (let Rick and Montovano know) | dev37 |
What does this proposal imply about transmission pricing. | dev37 |
We have debated from time-to-time whether we would be better off with a pure "loads pay" transmission pricing scheme because it would leave fewer places for utilities to hide the ball (when they pay for transmission they are just transferring money from one pocket to the other) and it would allow us to reach the maximum number of counterparties for each MW (thereby increasing liquidity). | dev37 |
Where do we stand? | dev37 |
congratulations! | dev37 |
One thing to add to the arguments: we have to make the adverse effect on consumers the centerpiece of our arguments. | dev37 |
We need the legal arguments too, but this is fundamentally a political and consumer protection driven discussion. | dev37 |
We have to be prepared to demonstrate that the key to Alberta reducing prices is allowing new generation to enter and to do that you have to allow a true market price to be posted. | dev37 |
California has seen the cancellation of numerous projects while they remain desparate for new supply because they have tried to artificially constrain prices. | dev37 |
That's not good for consumers. | dev37 |
If they need a lower cost solution for consumers (or protection from price volatility in the meantime) they need to "outsource" the residential supply business in blocks for fixed price bids. | dev37 |
Regardless of how we frame the arguments, or the solutions, however, we have to make the public policy/ consumer protection arguments the center of our written and oral presentations. | dev37 |
Do you agree? | dev37 |
Thanks for the message. | dev37 |
I agree that once we have a good outline of what we are going to do we are going to need someone who can get it done. | dev37 |
I think you would be an outstanding candidate for that role (seems to me we went after you once before). | dev37 |
Is your inquiry confidential or can I discuss it with others? | dev37 |
Thanks, I enjoyed it too and would be happy to do it again. | dev37 |
If we are interested in doing this, the interviewee should probably be from EEL | dev37 |
Has anyone talked with Tim B about what Larcamp said -- ie the soft cap only applies to PX and ISO bids and not to any bilateral contracts including bilateral fwd contracts? | dev37 |
You might try Scott Tholan, Mike Hicks, or Rick Buy. | dev37 |
As I mentioned at the executive committee meeting, we have a number of people who either have expressed interest in serving on the transition team or who I would like to approach to serve on the transition team for Bush. | dev37 |
We believe that a call from you to Cheney may be required. | dev37 |
David Haug. | dev37 |
David will be returning from his honeymoon on Dec 4 and has expressed a strong interest in serving on the Bush team. | dev37 |
Woody Wodraska. | dev37 |
Woody would like to work on environmental and water issues and has been in touch with Bush campaign folks in both California and Florida. | dev37 |
He would appreciate a call on his behalf to Cheney. | dev37 |
Amanda is aware of his interest and is amenable to his service. | dev37 |
James Steffes. | dev37 |
You know Jim. | dev37 |
He is one of the most creative and talented people in my organization. | dev37 |
He is familiar with state and federal energy regulation as well as the state and federal policy makers who have played an active role in deregulation efforts. | dev37 |
He would be great to have on a vetting team for commission nominees. | dev37 |
I have talked to Jim and he is interested. | dev37 |
Others. | dev37 |
We can make another 4 people available from the government affairs organization with qualifications in energy, communications and market regulation. | dev37 |
The question is more a matter of how many Enron people they would like to have. | dev37 |
Among them: Dan Allegretti (who will be chair of NEPOOL next year) who campaigned for Bush in New Hampshire; and Sue Landwehr, a republican who works for us in the upper midwest. | dev37 |
Linda Robertson has suggested that we try to put as many people on the "vetting" team as possible. | dev37 |
Let me know how I need to proceed. | dev37 |
can you find the contact and see if they are still interested in the money? | dev37 |
That flight time is fine. | dev37 |
A couple of other things: I need to meet with McKinsey while I'm in town on Monday. | dev37 |
Please set up with Suzanne Nimocks' office. | dev37 |
Also, my return should be first thing Tuesday morning (I think we had discussed Monday night originally). | dev37 |
Just get me on the first available flight to Roswell. | dev37 |
Also, I didn't mean to put you in a difficult spot with Melissa. | dev37 |
I had tried getting hold of her last night but only got the answering machine. | dev37 |
Don't worry about tellling her my travel schedule. | dev37 |
If I haven't told her first, I'll deal with the consequences (I've logged "couch time" before plus I'm usually pretty good about keeping her up to date). | dev37 |
Thanks | dev37 |
I think this is something we should consider. | dev37 |
I'm asking Rob to look into it. | dev37 |
Thanks | dev37 |
I sent an electronic copy to John Baker. | dev37 |
Maureen could you send one directly to Jason and schedule lunch? | dev37 |
thanks | dev37 |
Contact Steve Walton To: Skean@enron.com (Steve Kean) cc: Subject: Outline for Project on Real-Time Markets Dear Steve, Once again, I call on you for advice. | dev37 |
Who, within Enron, should I talk withabout a new project I am working on, related to real-time balancing operations and markets (all the messy stuff that causes so many problems within all the existing ISOs)? | dev37 |
Here is the outline for the project. | dev37 |
Can you send me your suggestions on revising the outline, other people at Enron (and elsewhere) to contact related to these markets, and written materials on how the various ISO markets operate. | dev37 |
Thanks. | dev37 |
Eric ISSUES TO DISCUSS FOR PROJECT ON: REAL-TIME BALANCING OPERATIONS AND MARKETS 1. | dev37 |
Introduction: Importance of real-time operations and markets Essential for reliability, especially security Basis for all forward contracts (hour- and day-ahead, block monthlies, Real-time prices motivate generation-capacity decisions: new construction,repowering, retirements Ensure equitable treatment for &new8 intermittent and distributed res2. Physical Requirements and Operations Balance generation to load in near-real time (intrahour) Normal conditions (frequency response, CPS1, CPS2) Contingency conditions (DCS) In neither case is it necessary for generation to exactly balance load overshort time periods (e.g., 10 minutes), but must balance energy over longerintervals Benefits of aggregation Performance and characteristics of individual generation and load resourcesrandom fluctuations, energy level, ramp rate, acceleration rate, startup time, minimum run time, block loading, energy-limited characteristics of hydro units, etc Control-area balance vs individual-schedule balance, good vs bad inadverteninterchange NERC and FERC requirements 3. Operations with Vertically Integrated Utilities Unit commitment Economic dispatch Regulation Contingency reserves Control area forecasts of loads and resources, effects of forecasts on unitcommitment and dispatch Treatment of (payments and penalties for) energy imbalance and inadvertentinterchange 4. RTO Operations and Markets Generation not owned by RTO, RTO must purchase outputs from generation andload resources Relationship between real-time operations and markets, how are resources dispatched (and by whom) and how are they compensated Time interval (1, 5, 10, or 15 minutes) for dispatch and price setting; whaare the tradeoffs in choosing among these intervals Single market-clearing price in each interval vs pay-as-bid for each resourPay for energy only or pay also for maneuverability (e.g., ramp and acceleration rates); how do resource constraints determine which resourcesare permitted to set the market-clearing price and which aren't, and why?Set prices ex ante or ex post? If prices set ex ante, what is the basis forthe value? Should unit commitment (resource scheduling) be done by individual supplierby RTO, or both? Relationship between real-time markets and ICAP and RMR requirements, and RTO requirements to ICAP and RMR units to bid resources into real-time marketTreatment of exports and imports, rules governing interchange scheduling (number of schedule changes per hour permitted, ramp rates for schedule changes) To what extent does the RTO make short-term forecasts of load and generatiohow far into the future (10 minutes to 24 hours), how does the RTO use thesforecasts? Should the RTO commit and dispatch resources on the basis of expected future conditions (i.e., beyond the current and next interval)? Whpays for these RTO decisions? Should RTO publish prices and let demand and supply respond to the price signal, or should RTO dispatch resources up and down based on supplier bidsIf the RTO explicitly dispatches resources, should uninstructed deviations be treated differently, in terms of payment or penalties, from instructed deviations? What about a resource,s failure to follow instructions? Under what circumstances should RTO go &out-of-market8 for resources? What should set the price of (payment to) these resources? Under what conditions, if any, are penalties appropriate, for what kinds ofbehavior, what determines the magnitude of the penalty? Should penalties apply to generation only or to loads also? How, if at all, should capacity assigned to ancillary services (especiallythe reserve services) be incorporated into real-time operations and marketsFor example, should the capacity assigned to contingency reserves be set aside and used only when a major outage occurs? Or should such reserves beused routinely whenever it is economic to do so, as long as sufficient capacity is available to meet the NERC reserve requirements? How should intermittent resources (e.g., wind) be treated in real-time operations and markets? Should they be treated any differently from a largevolatile load? Can retail loads participate in real-time markets? How? 5. Case Studies of U.S. ISOs California PJM, New York, and New England 6. Conclusions and Recommendations Key features of operations and markets What works What are the options What problems still remain Eric Hirst Consulting in Electric-Industry Restructuring 106 Capital Circle Oak Ridge, TN 37830 | dev37 |
Another key point: to avoid the mistakes of California, policy makers must make it easy to site and interconnect new generation. | dev37 |
In California peak demand rose by about 5500 MW from 1996 - 2000. | dev37 |
The market responded with porposed capacity additions of about 11000 MW. | dev37 |
Most of these facilities are working thier way through the tangle of state and local approvals. | dev37 |
The problems we saw in California did not need to occur if policy makers simply enabled the market to work. | dev37 |
Also, it's worth noting that the deregulated market did work. | dev37 |
Customers who signed with Enron saw a lower bill than prederegulation, Enron hedged its commitments and so our customers (and Enron) did just fine during the summer. | dev37 |
Deregulation worked; the problems in California can be directly traced to continued regulatory interference in the market. | dev37 |
It looks like a good letter.... | dev37 |
heavy on explanation of our position. | dev37 |
At some point I'd like to hear more of the background that's leading us to this position. | dev37 |
You had asked for my input on a response to a letter you received from Tom Donahue regarding increasing Enron's contribution to the US Chamber to $100,000. | dev37 |
I have been giving the Chamber a bit of a hard time lately and wanted you to know why. | dev37 |
I have been in touch with both Tom and his staff over the last year. | dev37 |
Donahue has done a very good job raising money and getting his membership rolls up, both in terms of membership and dollar contribution per member. | dev37 |
My reservation about the Chamber is that they won't take a stand on something which is in the best interests of the vast majority of their membership if it will alienate a vocal few. | dev37 |
Electric restructuring was a key example of this. | dev37 |
There was no doubt where they should have been on the issue, but instead of embracing retail open access legislation at the federal level they decided to have a "process". | dev37 |
Naturally, all the utilities volunteered to participate in the process and outnumbered the nonutility members when it came time to vote. | dev37 |
The vote supported wholesale, but not retail, reform (with heavy emphasis on ensuring stranded cost recovery). | dev37 |
Afterwards, the federal debate shifted solely to wholesale legislation (though this is not exclusively the Chamber's fault). | dev37 |
Unfortunately, Tom's forceful and competitive approach when it comes to raising his membership rolls leaves him unwilling to do the right thing if a few members will be upset. | dev37 |
For Enron it's a bit like paying $100,000 for a veto right. | dev37 |
The only things the organization pushes for are the things everyone agrees on in the business community -- eg China PNTR and lower corporate taxes -- things they will push for whether we pay dues or not (and things we will add our separate voice to in any event). | dev37 |
As I have explained to the Chamber, Enron makes its money challenging conventional wisdom, changing the way markets work, and dislocating incumbents. | dev37 |
Anything important that we stand for is likely to alienate some members of the business community and the Chamber is unlikely to stand with us. | dev37 |
They represent the status quo in the business community. | dev37 |
Tom is an extremely promising leader; he needs to create a new kind of voice for the business community. | dev37 |
A voice which stands for moving business to the next level, not just protecting its current position. | dev37 |
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