Overview
Annual reconfiguration transactions (ARTs) provide an opportunity for participants to achieve price certainty by allowing them and their counterparties to facilitate a fixed-price private transfer, used in conjunction with submitting a demand bid or supply offer in the annual reconfiguration auction (ARA).
- Demand bids and supply offers will account for a resource’s capacity supply obligation (CSO) change in the associated ARA.
- ARTs are entered into before the close of the associated ARA.
ART Administration Overview
In an ART, the difference between an agreed-on price and the ARA clearing price is transferred between resources.
- If the ARA clearing price is greater than the agreed-on ART price, the acquiring resource pays the transferring resource the difference (assuming it passes 快活app官网 financial assurance and reliability reviews).
- If the ARA clearing price is less than the agreed-on ART price, the transferring resource pays the acquiring resource the difference (assuming it passes 快活app官网 financial assurance and reliability reviews).
- Initial ART limits are equal to the bid/offer limits established for the corresponding ARA.
- Financial assurance due to confirmed ARTs will be calculated upon the close of the submission window. The calculation is based on maximum financial assurance exposure and is then adjusted accordingly after ART and ARA approval.
How to Submit ARTs
Annual reconfiguration transactions are submitted in the Forward Capacity Market Reconfiguration Auction User Interface. A digital certificate is required to access the system. You must ask your security administrator for the 快活app官网’s Customer and Asset Management System (CAMS) to provide you with one of the following roles on the basis of your expected activities:
- External forward capacity maintainer—allows the user to add, edit, and delete supply offers and demand bids for a given reconfiguration auction
- External forward capacity viewer—allows the user to view submitted supply offers and demand bids for a given reconfiguration auction
If you don’t know who your security administrator is, contact Participant Support.
To access the system, click the Forward Capacity Market Reconfiguration Auction button on the .
Capacity-transferring or -acquiring resources may enter into provisional ARTs before the submission window opens and after approval of the corresponding Forward Capacity Auction (FCA).
Information Required
To submit an ART, you must identify the following:
- The capacity-transferring and -acquiring resources
- The nominal megawatt amount, limited by the greater of:
- The capacity-transferring resource’s maximum transferring capacity, minus the quantity of any previously confirmed ARTs
- The capacity-acquiring resource’s maximum acquiring capacity, minus the quantity of any previously confirmed ARTs
- The set price in dollars per kilowatt-month
- Capacity zone and associated capacity commitment period
The counterparty must confirm the transaction.
Processing
Important note: If participants’ ARA bids or offers do not clear the ARA or counterparty confirmation is not submitted by the close of the ARA submission window, the associated ART will not be automatically canceled. An ART will be rejected only if either participant fails the financial assurance evaluation of all the transactions (ARTs, bids, and offers) or either a demand bid or supply offer is rejected for reliability.
