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The Midwest ISOAt the Crossroads of America
International Meeting of Very Large Power Grid Operators
October 24 & 25, 2005
Beijing, China
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Agenda
Midwest ISO: At the Crossroads of America
Objective & Benefits of ISO/RTO’s
The Midwest ISO • Status of the Midwest Market
• Key Technologies
• Path Forward
• Information
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At the Crossroads of America: Literally and Figuratively
Continually evolving industry
Regulatory preference
Ensuring safe & reliable delivery
Energy markets
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What is an RTO?
A Regional Transmission Organization (RTO) provides wholesale electric transmission service under one tariff for a large geographic area
An RTO must meet certain characteristics to be approved by the FERC• Independence• Scope and Regional Configuration• Operational Authority• Reliability Authority
An approved RTO must also be able to provide certain regional functions• Tariff Administration• Congestion Management• Parallel Path Flow• Ancillary Services• Open Access Same-Time Information Systems (OASIS)• Available Transmission Capacity (ATC)• Market Monitoring• Planning and Expansion• Interregional Coordination
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ISO/RTO Benefits
Efficiency & Optionality• Efficiency of equipment usage for generators and transmission grid• Increased supply options and optimal use of energy resources across footprint• Transparency and energy pricing data availability• Security constrained unit commitment and economic dispatch for load• Market-based congestion management
Independence• Non-discriminatory open access to a large consolidated transmission system• Independent Available Transfer Capability (ATC) & Available Flowgate Capability (AFC)• Independent market monitoring and mitigation in place
Enhanced Reliability• Better planning process for a large region, maintaining or improving reliability • Allows the opportunity to provide and implement a long-term congestion solution• Improved maintenance and outage coordination
One-stop Shopping• Single OASIS and scheduling system• Consolidation of reliability coordinators into one regional entity• Establishes one generator interconnection process
Cost Savings• Elimination of “pancaked” rates over a large area• All of the items above in One-Stop Shopping• Eliminates seams within the RTO and addresses seams with other RTO’s• Provides opportunity to consolidate and lower reserve requirements regionally
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Centralize Generation Dispatch and Outage Management• Manage congestion via Locational Marginal Pricing (LMP), Transmission Loading
Relief (TLR) and Seams agreements
• Evaluate all resources within the Midwest ISO footprint as a pool
Maintain and Enhance Reliability• Ensure real-time operating reliability of the interconnected bulk transmission systems
• Interact with 26 Balancing Authorities and maintain system reliability
Provide Transmission Services
Provide Market Services• Operate Day-Ahead & Real-Time Markets (2 settlements)
• Administer auctions for Financial Transmission Rights (FTR)
Seams Coordination
Regional Planning• Ensure long-term (1+ years) plan availability for adequate resources and
transmission
• Integrate and assess transmission and resource plans
What We Do
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Who We AreThe Midwest ISO is an independent, non-profit reliability coordinator for the transmission of high voltage electricity via a security constrained economic dispatch across all or parts of 15 states and Manitoba
• Operational Since December 15, 2001• Market Launch on April 1, 2005 • 27 Transmission-owning entities• Security constrained economic dispatch• Dynamic market monitoring• Multi-control area environment (35
Balancing Authorities (reliability)• All-Time Peaks in 2005: 112,197 MW
(footprint) & 131,434 MW (reliability) • 135,054 MW generating capacity
• 97,000+ miles of transmission lines
• Large footprint - 947,000 square miles & 15.1 million customers
• Over $12 billion installed assets
• 1,504 generating units (reliability footprint)
• All industry sectors represented
• Carmel, IN & St. Paul, MN Control Centers
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State Estimator: Power System Model• 170,000 data points collected every 15 seconds• Executes every 90 seconds with 99.8% solution availability• 8,500 contingencies assessed every 2.5 minutes for:
• 31,000 buses• 30,000 transmission lines (AC)• 15,000 transformers• 4,600 generating units
Unit Dispatch System (UDS)• Utilizes load forecasts, scheduled net market interchange, current
generator output, generator ramp limits and offers, transmission constraints
• Results in most economic generation being utilized to serve customer load and manage constraint
• Security-constrained dispatch provided every 5 minutes
Monitoring & Reliability Tools• Topology processor• Back-up capability and redundancy• Monitoring tools for generation/power supply, transmission “delta
flow” and flowgates
Midwest ISO: Key Technologies
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Market Overview Data
0.00
50.00
100.00
150.00
200.00
250.00
300.00
4/1/
2005
4/8/
2005
4/15
/200
5
4/22
/200
5
4/29
/200
5
5/6/
2005
5/13
/200
5
5/20
/200
5
5/27
/200
5
6/3/
2005
6/10
/200
5
6/17
/200
5
6/24
/200
5
7/1/
2005
7/8/
2005
7/15
/200
5
7/22
/200
5
7/29
/200
5
8/5/
2005
Time
$/M
Wh
Midwest ISO
PJM
NYISO
IESO
Midwest ISO: Day-Ahead Cleared Demand (2005)
TWh $ US (Billions)August 66.3 4.5July 63.0 3.9June 57.6 3.1May 49.1 1.6April 43.9 1.9
Real-Time Market Prices
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Status of the Midwest Market
Experience Smooth start-up Good system performance Improved reliability Good Operator
performance Stable seams coordination
Challenges Portal data queries Generation offer
characteristics Unit Commitment Data Transfer to
Settlements Generation outage planning Balancing Authority
coordination
Preparation Extensive market
trials
Comprehensive Training programs- Market Participants- Midwest ISO Personnel
Coordinated System Operations tests
Comprehensive IT systems testing
Working directly with Market Participants & Other Stakeholders
Startup StabilizationMarket Launch
April 1st Q2/Q3 Q4
Experience Smooth transition to
Market-Based rates Continued system
stability Market Participant
development
Challenges System enhancement Market information
dissemination Balancing Authority
Control Performance Standards (CPS)
Settlement Disputes Market development Access to Operating
Reserves
January - March
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Midwest ISO: Path Forward
Overall cost efficiencies
Operations Excellence: continue to improve operational and market efficiency
Explore further market development• Joint & Common Market (JCM) & interregional coordination
• Ancillary Services
• Generation Adequacy (Capacity)
• Long-term FTR
Energy Policy Act of 2005
Enhancing external reporting capabilities and core IT system performance
Continued focus on information, education and communication
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