Yes. The following information is published after an auction is complete:
- FTR Market Identification = Annual or Monthly
- Source and Sink Identity of the FTR
- Owner Name
- Class = On-peak or Off-peak
- Purchase or Sale
- MW Amount
- Clearing Price
Financial Transmission Rights (FTRs) Frequently Asked Questions
FTRs available are dependent on auction assumptions located in the eFTR application.
You can bid for on-peak and off-peak separately; but not for the full 24 hour day in a single bid.
The offer price is always the length of the auction so it would be MW-month or MW-year.
MWs cleared and path (from location to location) for the full period of the FTR Auction, the winning bidders and FTR clearing prices at all Locations. (See MR 1, III.7.3.7) Long-term auction will be posted by the 6th business day after the close of bidding window; monthly auction results will be posted by the 4th business day after the close of the bidding window. (See Section 3.5 of Manual M-06).
Accepting a minimum quantity would introduce significant software development effort involving both time and cost. SMD is patterned after the PJM market design in which a minimum quantity cannot be specified. Specifying a minimum quantity is not allowed in MR- 1, III.7.3.5.
The FTR Auction value is based on the bid prices. Marginal FTRs set the clearing price. The FTR Auction revenue is based on the clearing prices.
No. FTRs may be sold from any Location to any Location including Node, External Node, Load Zone and Hub.
Market Rule One, Section 7 defines Eligible FTR Bidder as "an entity that has satisfied applicable financial assurance criteria and shall not include the Auctioneer, its affiliates, and their officers, directors, employees, consultants and other representatives".
No. In accordance with Section 4 of Manual M-06, the trading deadline for all FTR trades for the Operating Day is the end of the previous Operating Day.
Options are not included in the FTR market. The ISO is not currently investigating implementation of options. The ISO may be obligated to pursue implementation of options in the future, depending on the Commission.
Not all transmission contingencies will be run in SFT. The transmission contingency list used in SFT during the FTR Auction is the same list used to clear the Day Ahead and Real Time Energy Markets.
No. Generators are not modeled in the SFT for the FTR Auction. Only injections from the FTRs that are bid for in the FTR Auction and injections from those FTRs that have already been awarded from a previous FTR Auction are modeled in the SFT process.
No. Planned transmission lines are not included in the FTR Auctions.
FTRs are not associated with individual ties, but rather the paths enabled by the ties (the ties are represented in the network model, bids are placed at the External Node and interface limits are allowed to constrain the flows/FTRs).
The existence of SPSs are recognized in conducting the auction. Runbacks have no significance since no generation is modeled.
The FTR-pertinent PSSE power flow information and other documents associated with a particular upcoming FTR auction are accessible via the eFTR application by valid FTR bidders/holders. Customers should enter the eFTR application and select the hot link on the top middle of the page called FTR Market.
Winning Eligible FTR bidders always pay the FTR clearing price for the associated FTR path.
Section 6.3.5 of Manual M-28 describes how excess Transmission Congestion Revenues are distributed.
Yes, the pool totals for the distribution of Transmission Congestion Revenue is located in Congestion Revenue Summary on this Web site.
Section 5 of Manual M-06 explains what happens when there are shortfalls or excess collection of Transmission Congestion Revenue.
Reference M-06 FTRs, Section 7.2 ARR Overview. Revenues from the FTR Auction are allocated: i) to entities paying for transmission upgrades; and ii) to Congestion Paying LSEs.
The revenue comes from all FTR auctions.
Allocation by zones can be found in the ARR MIS reports located on the FTP site.
Yes. Section 7 of Manual M-06 describes how ARRs are allocated to holders of excepted transactions.
Yes, If Real Time Load Obligation (RTLO) is negative it would result in a payment.
The auction schedule updates are posted with the FTR Calendars. The calendars are updated on an annual basis and include both annual and monthly FTR auction dates.
The FTR model information is posted on the SMD application under FTR Market. This information is only available to participants who have been granted access by their company's Security Administrator. ISO-NE does not provide access to Non Participants for this information.
The eFTR software does not allow users to delete an entire file upload. The following options are available to remove the data prior to the market deadline:
- Delete each path one by one manually in eFTR
- Submit an e-mail to Market Support at custserv@iso-ne.com requesting the deletion of the entire file and then resubmit the corrected XML file upload to eFTR. The e-mail needs to authorize ISO-NEto delete the file and have the proper description of the file.
These files are comma delineated and must be converted into a .txt file to see the errors. Convert the file into a text file and remove the comma's that are extra. This is a typical problem, which causes the file to be rejected. Proper file format direction can be found on page 60 of the eFTR User Guide [PDF].
