Highlighted a discussion started by Matt Mereness concerning ERCOT's CRR auction transaction limits.
Updated the council about the annual CRR activity calendar with a draft posted alongside meeting materials.
Noted a significant increase in peak weekday transaction run times compared to previous auctions, despite fewer transactions per account holder.
Opened discussion on whether current transaction limits per counterparty and account holder are sufficient as ERCOT considers redesign options and hardware upgrades.
Mentioned continued growth in market participants which could strain current software capacity.
Blake Holt from LCRA indicated current transaction limits are adequate for his organization but emphasized keeping track of market growth.
Shane Wallin confirmed understanding of transaction limits per counterparty and discussed NPRR936 which prioritizes account holder flexibility.
Chris McCafferty and Matt Mereness raised the issue of significant penny bids and suggested solutions to alleviate bid volume pressure.
Shane Thomas recommended starting bid limits at 4,000 per account holder, with a maximum of 10,000, as a response to possible future changes.
Discussed whether the system capacity of 400,000 transactions is sufficient or needs to increase to accommodate growth.
Explored the idea of a survey to gather anonymous market participant feedback regarding transaction needs.
Monica from Vistra confirmed a presentation next month on a new time of use concept.
Felix and Samantha Findley supported the idea of a survey to obtain comprehensive market feedback.
NPRR1261 for operational flexibility for CRR auction limits was approved to go to TAC at PRS.
Reminder: 3,000 per account holder transaction limit is used for all LTAS auctions until NPRR is implemented.
Work is ongoing with the vendor for impact analysis concerning NPRRs for removing multi-month bidding functionality and the option pricing report.
Clearing prices for CRRs are provided after each auction, stemming from NPRR749 implemented in 2019 to reduce the number of option bids.
CRR activity calendar showed the annual and next two years of CRR auction dates; draft awaiting comments.
Model build process starts 3 weeks before auction posting; extended from 2 weeks due to model tool changes.
General pattern: Monthly auctions taking place in the first half of the month with the long term auction bid window the following week, adjusted for holidays.
Calendar includes protocol references and PCRR dates/tabs.
Draft calendar discussion about taking it to WMS for approval on February 5th; posted after approval.
Discussion over future implementation of NPRR936, affecting auction participant limits.
