SPP Disappointed as MISO Axes Last Interregional Project

“MISO originally forecast that the 115-kV circuit project into Sioux Falls would have a 4.79 benefit-cost ratio. ” -RTO Insider August 22 Issue

This project was cancelled by MISO because they believe that a no-cost solution of having an open circuit is a long term fix for similar benefit. SPP has become increasingly angry with MISO over the outcome of these failed joint projects and studies. This lack of collaboration indicates no new transmission capability being added between MISO and SPP.

BOOKING RAMP IN MISO: TIMING, BEST PRACTICES, AND STRATEGY

  • Timing

    • MISO Ramp Rules:
      • MISO Ramp is continuously evaluated and availability is posted for tomorrow. This can be viewed in the MISO RSS tool. A limited amount of ramp is available several days out and more will come become available as time passes.
      • During the DA scheduling window a Ramp Reservation Request is only alive until 9:00 AM EST. At this point all Ramp Reservation Requests, that do not have tags, enter the dead status. This is to prevent market participants from hoarding ramp and allow fair access to the MISO Ramp Product.
      • Ramp is being evaluated on a continuous basis and will be awarded in order of submission time of requests within the ramp queue.

    Best Practices

    • Reserve ramp as soon as possible and submit the tag:
      • A best practice for scheduling MISO Ramp is to reserve ramp as early as possible and submit the tag. This is to confirm OPG or OPGET’s ramp reservation and secure a place on the tie line especially in popular hours such as HE 1 and 24.
      • If closer to the DA scheduling deadline you wish to change the prices on the tag:
        1. Book ramp using the “Submit & Queue” button. This will place OPG or OPGET inside the ramp reservation queue and OPG or OPGET will be awarded ramp as it becomes available.
        2. If this ramp is accepted then continue through the tagging process. After the new tag has been accepted withdraw the old tag.
        3. If this ramp has been in the Queue for awhile and ramp availability appears not to be moving, a decision needs to be made. If you are very unhappy with the prices in the current tag withdrawing this tag should free up ramp availability. Assuming you are first in the queue this will cause OPG or OPGET’s ramp reservation to be accepted. If the price change is minor it might be best to leave the tag in and not incur the ramp reservation risk. There is no way to tell the position of OPG or OPGET’s request within the Ramp Reservation Queue.
        4. Once accepted, because one of OPG’s tags was withdrawn, submit a new tag with the revised prices. Repeat this process until all tags are adjusted.
      • Observed long weekend market behavior (Create more of an example out this to bring out the flavor and why this section is included. Like as an example of why we do best practices):
        • Because there is significantly less people scheduling over the long weekend or any weekend it can be difficult to reserve ramp on the day and hours needed. This is due to less movement and scheduling on the tie line. Once the entire ramp availability is used it is generally difficult on a long weekend to reserve more. To avoid this problem it is best to ensure tags are done as early as possible and to always have a ramp queue request waiting for desired hours.

    Strategy

    • Problem solving and crisis management:
      • If the ramp is unavailable for certain hours reserve around those hours. For example over the long weekend ramp is often unavailable for HE 1 and 24, as this is the time most DA traders start and end their tags. Booking HE 2 to 23 could be the solution and then have requests waiting for the remaining 2 hours (HE 1 & 24). This way a majority of the schedule is locked in and only 2 hours are in question.
      • Remember that all transactions into and out of MISO count for the ramp limit room. If OPG or OPGET has tags sourcing or sinking from MISO withdrawing these tags will free up ramp availability. Keep in mind this newly freed ramp is awarded based on queue time in the ramp reservation queue. This means that withdrawing a tag is guaranteed to free up more ramp availability but this new availability might not be awarded to OPG.
      • Another solution could be entering a virtual into MISO and creating a real time tag as the Ramp becomes available. This different position has the same payoff structure as a Day-Ahead tag.

    Summary

    • The best practices when scheduling MISO DA Transactions are:
      1. Start early
      2. Always have a tag in for the hours OPG or OPGET wish to participate in the MISO DA Market
      3. Always have a Ramp Reservation Request in the queue and waiting for desired hours