EE 5379
Fundamentals of Power and Energy Trading
Fall 2008
Instructor: Dr. Ricson Chai
Office: TBD E-mail: rchai@uta.edu
Office Hours: M - W: 8:30 PM - 10:00 PM or by appointment
Lecture: M - W 7:00pm-8:20pm
Classroom: NH 109
Reading Material:
ERCOT Protocol -
Congestion Management - read
before September 8.
The New Market Wizards by JACK D. SCHWAGER
ERCOT Protocol - Ancillary Services – read before September 22.
Project # 1: Research
on other ISO’s market structures and Operations information.
Project 1 – Partner List – This spreadsheet consists of the project topics as well.
PRESENTATIONS:
California ISO - CAISO by Anahita Banaei and Amir Khoobroo.
New England ISO – ISO-NE by Carol Elizabeth Chessmore and Feiran Huang.
Midwest ISO - MISO by Eithar Nashawati, Daniel Wesley Koss, and Himanshu Jain.
PJM by Chirag Suryakant Patel and Nishant Laljibhai Patel.
Tennessee Valley Authority - TVA by Don Jacob and Banharn Sutthiphornsombat.
New York ISO - NYISO by Weiping Xiao and Yunzhi Cheng.
Southwest Power Pool - SPP by Qiaohui Hu and Shun Liang.
Quiz Material:
ERCOT Transmission Map – Print this map out in color for
your reference.
Homework # 1: Real Cases
North
to South & South to North CSC Case
North
to West & West to North CSC Case
Homework # 2: Congestion Forecast Case
October 2,
2008 Case - Same case but with only 4 zones
without “Unuse” and “Nuke” areas/zones.
Load Forecast,
Generation Schedules, and CSC Limits
For creating your own generation schedules and CSC limits, please follow the following steps:
1. Enter your name on the box that specifies in the spreadsheet at the “Data” worksheet, and then
2. Copy the whole worksheet by clicking the upper left-hand corner button to select the whole worksheet and then press copy button.
3. On the “Your_Data” worksheet, you use the “paste special” with selecting “Values and Number Formats”.
4. Model your case with the load forecast and generation schedule for each zone and each hour.
5. Fill out the CSC flows from your studies for each hour on the “Expected … Flow“ columns.
6. Finally, determine any congestion and fill out the “Any Congestion?” column.
7. Submit your spreadsheet electronically.
If you have any questions, please send me an email.
Some of you did have a problem in scaling the case to a low load; you should to the following steps to get your case solved:
1. Find out what is your current base case load.
2. Scale down the whole system load 5000 MW at a time until close to your low load level.
3. Scale your load and generation for all zones at once according to the spreadsheet for each hour.
If you still have problem, please let me know.
Homework # 3: QSE Bidding & Strategies
Generator
Unit's Information - Same as Homework
# 2, you need to enter your name on the QSE Name and press “Enter” to get your
unique generator information and write the information on the handouts.
HW#3
Result & QSE Bidding Strategies & Handbook - Read the legends of this workbook and try to
understand the AS and energy settlements.
This result has guided you step by step to finalize your profits and
losses, P&L. It will lead you to
develop your own power trading strategies.
Homework # 4: LSE / REP Bidding & Strategies
Customer's
Information - Same as Homework # 3, you need
to enter your name on the LSE Name and press “Enter” to get your unique
customer information and write the information on the handouts.
HW#4 Result
& LSE Hedging Strategies & Handbook - Read the legends of this workbook and try to
understand the hedging strategy. This
result has guided you step by step to finalize your hedging cost. It will lead you to develop your own power
trading strategies.
Project # 2: To
maximize your company wholesales and retail revenue portfolio by applying power
trading strategies.
The
trading sequential events:
1. The
first half an hour, you will construct your AS strategy and bids using the AS
bidding format and submit it through email.
Your AS awards will be announced 10 minutes later in the class.
2. The
second half an hour, you will construct your Energy bids and offers using the Energy
Transaction format and submit them repeatedly during 30 minutes trading period. Your energy transactions will be confirmed by
the end of the trading period.
3. The
third half an hour, you will schedule your generation schedule for tomorrow based
on your AS awards, energy transactions, and your load obligation.
Note that you cannot sell energy in the real time
but you can buy energy in the real time if you schedule your generation short.
Project 2 – Energy Company Portfolio – Your company portfolio will be determined in the class by handout.
Project 2 – AS Bidding Format – Use this format to bid in your AS MW and prices.
Project 2 – Energy Transaction Format – Use this format to submit your offer/trade for energy in MW and prices.
Project 2 – AS Requirement for 11-20-2008 – This is the AS requirements by types and by hours for Nov 20th, 2008.
Grade: Projects, Homework
& Quizzes – Updated
on 11/16/2008