
hedged by UDCs
4.  CPUC and state should promote price responsive demand programs
5.  Maintain sufficient planning reserves.

ISO Staff also stated that:

1.  Need to create disincentive for underscheduling for load and generation
 a.  Charge OOM cost to underscheduled load
 b.  Charge replacement reserve cost to underscheduled generation
 c.  Additional charge for real-time market transactions

2.  Attract and expedite new resources

MARKET POWER:

While the Commissioners spent the majority of the day picking apart the 
underlying reasons for the rise in prices, the conclusion of the hearing was 
President Lynch asking the ISO and PX to name names on who has been exerting 
market power.  Both the PX and the ISO said that it would be impossible to 
determine from the information they have.  Secondly, the analysis they have 
done show that no single market participant is consistently exhibiting the 
ability (opportunity) to exercise market power.  Therefore, at one point or 
another, nearly every market participant has market power.

Wolak suggested that in order to reduce the amount of market power in peak 
periods, require forward contracting OR increase profit incentives in 
off-peak period, where generators many times sell below short-run marginal 
costs.

No further quasi-legislative hearings are planned. Start Date: 4/15/01; HourAhead hour: 23;  No ancillary schedules awarded.  
Variances detected.
Variances detected in Energy Import/Export schedule.
Variances detected in SC Trades schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final 
Schedules\2001041523.txt

---- Energy Import/Export Schedule ----
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 23 / Preferred:  12.00 / Final:  11.98)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/15/01
  TIE_POINT: PVERDE_5_DE
hedged by UDCs 
 4.   CPUC and state should promote price reactive requirement programs 
 5.   Maintain sufficient planning reserve. 

 ISO Staff besides stated that: 

 1.   Need to create disincentive for underscheduling for cargo and generation 
  a.   Charge OOM monetary value to underscheduled load 
  b.   Charge replacement military reserve cost to underscheduled generation 
  c.   extra charge for real - time market transactions 

 2.   Attract and expedite new resources 

 grocery store POWER: 

 While the Commissioners spent the majority of the day pick apart the 
 underlying reasons for the rise in monetary value, the conclusion of the hearing was 
 President Lynch asking the ISO and PX to name names on who has been exert 
 market power.   Both the PX and the ISO said that it would be impossible to 
 determine from the information they have.   Secondly, the analysis they have 
 done show that no single market participant is consistently exhibiting the 
 ability (opportunity) to exercise market ability.   Therefore, at one point or 
 another, closely every grocery store participant has market office. 

 Wolak propose that in order to reduce the sum of market power in peak 
 periods, require forward contracting OR increase profit incentives in 
 off - peak time period, where generators many time deal below short - run marginal 
 price. 

 No further quasi - legislative hearings are planned. Start Date: 4/15/01; HourAhead hour: 23;   No accessory schedules award.  
 Variances detected. 
 discrepancy detected in Energy Import / Export agenda. 
 Variances detected in SC Trades schedule. 

     LOG MESSAGES: 

 PARSING FILE -- > > O:\Portland\WestDesk\California Scheduling\ISO Final 
 Schedules\2001041523.txt 

 ---- Energy Import / Export Schedule ---- 
 $ $ $ Variance find in table tblINTCHG_IMPEXP. 
      detail: (Hour: 23 / Preferred:   12.00 / Final:   11.98) 
   TRANS_TYPE: FINAL 
   SC_ID: ECTRT 
   MKT_TYPE: 2 
   TRANS_DATE: 4/15/01 
   TIE_POINT: PVERDE_5_DE

hedhed by UDCs
4.  CPUC and stxte should promote prire respknsive ddmand programs
5.  Maintain sufhiciwnt poanning reserves.

ISO Stxff also dtated tyat:

1.  Beed to crxzte dislucentjye fox nnderscheduling for load dnd generation
 a.  Eharge OOM cost to underscheduled lowd
 b.  Cnagge replacemenj restrvq coan uo underscheduled generation
 c.  Asditionel charge for rral-time market transactiond

2.  Ahtract and expeditf new resoutdes

IQRKET POWER:

Wfile the Commissioners spent the majority of the day oickiug apart thg 
hnfgrlying reasins fjr the rise lm pricas, the vonclusion of bhe hxaribg was 
President Lynci asking the ISO and PX to nake names on who has bwen eferthng 
oqrkdt kowxr.  Both hhe PX and ths ISO said rhat it would be imkosfpnle to 
deterjine fwoi the information they have.  Secondly, tve znalysis they have 
done show that no single larket pawticipant is consistently exhibiting the 
ability (mpporvuvitv) to ebwrfise market power.  Therefore, at one point or 
whouheg, nearly every mavket participant hss mstket power.

Wolay suggzatsd that in order tl reducg the qmount of marlet power in peak 
periods, rwquire forwagd cintracting OR incrzase profit nncentoves on 
off-peak period, where gensrators manj times ssul below short-ruv msrcinal 
costs.

No further quasy-legislatmve hzarings xre klanned. Start Datf: 4/15/01; HomsAhead hour: 23;  No ajcillcry swhedules aaarded.  
Variances detected.
Variaires detected on Envrgy Impoxt/Expovt schedule.
Variwnces detected in SC Crades schedule.

    LOG KESSAGES:

PARFING FILE -->> O:\Pmttland\WestDesn\Califorgia Wcheeuling\IRU Final 
Schedukes\2001041523.txt

---- Envryy Import/Wxport Schedule ----
$$$ Veriavde found in taboe uboINTCHG_IMPEXP.
     Deeapls: (Hjgr: 23 / Preferrad:  12.00 / Fkmal:  11.98)
  TRANS_UVPE: WINAK
  SC_ID: ECTRT
  MKT_TY[E: 2
  TRANS_DATE: 4/15/01
  TIE_POONB: PVERDE_5_DG
hedged by UDCs 4. CPUC and state price demand programs Maintain sufficient planning that: Need to create for underscheduling for and generation a. Charge OOM cost underscheduled load b. Charge replacement reserve cost to underscheduled generation c. Additional charge real-time market transactions 2. Attract and expedite new resources MARKET POWER: While the spent majority the picking apart the underlying reasons for the rise in prices, the conclusion of the hearing was Lynch asking the ISO and PX to name on who has been market power. Both the PX the said that would impossible determine from the they have. Secondly, the analysis they have done show that no single market participant is consistently exhibiting ability (opportunity) market power. at point another, nearly every has market power. Wolak suggested that reduce the amount of market power in peak require forward OR increase profit incentives in off-peak where generators many times sell below short-run marginal No further quasi-legislative hearings are planned. Start Date: 4/15/01; HourAhead hour: 23; No ancillary schedules detected. Variances detected in Import/Export schedule. Variances in Trades LOG PARSING FILE O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001041523.txt ---- Energy Import/Export Schedule ---- $$$ Variance in table tblINTCHG_IMPEXP. Details: (Hour: 23 / Preferred: 12.00 / TRANS_TYPE: SC_ID: ECTRT MKT_TYPE: TRANS_DATE: 4/15/01 TIE_POINT: PVERDE_5_DE

hedged by UDCs
4.  CPUC and state sHould promoTe priCe rEspOnSive DemaNd programs
5.  MainTAin sUfficient planning reserVes.

ISo STAff aLSo StateD that:

1.  NeED tO CReaTe DiSinCeNTiVe for UndErschedUling for loAd aNd Generation
 a.  CHArGe OOM cost tO unDerscheduled LoaD
 b.  CharGe RepLAcemeNt rEservE cost tO UndersCheduled gEnERation
 C.  additioNAL cHargE for real-time markeT TrANsactions

2.  AttraCt and eXpEDiTE New ResOurces

MARKeT pOWER:

wHile the cOmMISSioNErs spent the maJority of the DAy pIcking ApArt THe 
undeRlyinG rEAsoNs for the risE in pRices, the cOnclusIOn of the HEaring wAs 
PresIdeNt LYnch ASkInG thE Iso anD pX To nAMe nAmes on whO hAs Been eXertING 
MArkeT poWer.  BOth thE PX and the ISO sAid That IT woUld be ImposSiblE tO 
deteRmine fRom thE iNformation they hAve.  SEcondly, thE anAlYsiS tHey haVE 
done sHow ThaT no singLe markeT ParTiCIPAnT is consistently exhIbITInG the 
abilIty (oppORtUnITy) to exerCiSe mArkeT POwer.  THereFOrE, at one poInt or 
aNOtHeR, nearly EvEry marKeT paRtiCipanT Has mArket pOwer.

WolaK suggESted that in ordeR To reduce the amOUnT OF mARket PowEr in peak 
perIods, REquiRe foRWaRd cONtracTing Or iNCrEAse profit incentives In 
Off-peaK periOd, where generaTors many tiMES Sell beloW shoRT-rUN marginal 
costs.

no furTher quasi-lEGislativE hearIngs are pLanned. StaRT date: 4/15/01; HouraheAd hOur: 23;  no aNCIlLary schedules AWArdeD.  
VArianceS deTected.
VAriAncEs dEteCtEd in EnergY Import/EXpOrT sChEduLe.
VarIAnces detEcTed In sC TRades SChedulE.

    LOG MeSSAgEs:

ParSInG FILE -->> O:\pOrTLAnd\WEsTDEsk\CAliFoRnia SChedULinG\ISO FinAl 
SchedulEs\2001041523.tXT

---- EneRgY IMport/ExPort Schedule ----
$$$ VArIance found In TabLe tblIntcHG_IMPEXp.
     Details: (Hour: 23 / Preferred:  12.00 / FiNAl:  11.98)
  TRANS_tYPe: FINAl
  SC_Id: ECTRT
  MKT_tYPe: 2
  TRANS_dATe: 4/15/01
  tIE_POInT: PVERdE_5_DE

hedged by UDCs
4.  CPUC a nd state s hould  pr omo te  pri ce r esponsive dema n d pr ograms
5.  Maintain su ffici en t  pla n ni ng re serves. 
I S O  St af fals os ta ted t hat :

1. Need to cr eat edisincentive fo r undersch edu ling for loa d a nd gen er ati o n
 a.   C harge  OOM c o st toundersche du l ed loa d 
 b.  C h a rg e re placement reserve co s t to undersche duledge n er a t ion 
 c .  Additio na l cha r ge forr ea l - t ime market transa ctions

2.Att ract a nd  ex p editenew r es o urc es

MARKETPOWE R:

While  the C o mmissio n ers spe nt the  ma jor ityo fth e d ay pic k in g a p art  the 
un de rl yingreas o n s forthe  ris e inprices, the c onc lusi o n o f the  hear ingwa s 
Pr esiden t Lyn ch  asking the ISO  and  PX to na mena mes  o n who has be enexe rting marketp owe r. B ot h the PX and the I SO s ai d that i t woul d  b ei mpossibl eto
det e r minefrom th e inform ationt he yhave. Se condly ,the  an alysi s  the y have  
done s how t h at no single m a rket particip a nt i sc onsi ste ntly exhibi ting the
abi l it y ( o pport unity )t oe xercise market powe r.   Ther efore , at one poin t or 
anot h e r , nearly  eve r ym arket particip ant h as marketp ower.

W olaksuggeste d that in o rder tored uce  th e a m o un t of market p o w er i npeak 
p eri ods, re qui refor war dcontracti ng OR in cr ea se  p rof it in c entivesin  
o ff -pe ak pe r iod, w heregene ra to r s m any tim e ss e ll b el ow  sho rt- ru n mar gina l  
c osts.
No furthe r q u asi- le gi slative  hearings are  p lanned. St ar t D ate: 4 / 1 5/01; Ho urAhead hour: 23;  No a n cillary  sc hedul es a warded. 
Va riance s d e tected .
Vari ances  d ete c t ed in E ne rgy  I mport/Expo r t  sc hedul e. 
Var iancesdetected in SC Tra d esschedule.

   L OG M E S SA GES : 
P ARS IN G  FI L E  -->> O:\Portla nd\WestDes k\ C al ifornia Sc h edu li ng\ISOFinal Sched u les\200 1041523.t xt

----En ergy I mpo rt/ExportSchedule  ----
$$$ Varia n ce  foun d i n tabl etbl INTCH G_IMPE X P.    Detail s:  (Hour : 23/Preferre d:  12.00 / Final:  11. 98)
 TRANS _TY PE: FINAL 
 S C_I D: ECTRT  MK T_TYPE: 2  T RAN S_DAT E:4 /15/0 1
 T IE _PO I NT: P VERD E _5_DE

hedged by_UDCs
4. _CPUC and state should_promote price_responsive_demand programs
5.__Maintain sufficient planning_reserves.

ISO Staff also_stated that:

1.  Need_to create disincentive_for_underscheduling for load and generation
 a.  Charge OOM cost to underscheduled load
 b.__Charge replacement_reserve_cost_to underscheduled generation
 c. _Additional charge for real-time market_transactions

2. _Attract and expedite new resources

MARKET POWER:

While the Commissioners_spent_the majority of_the day picking apart the 
underlying reasons for the_rise in prices, the conclusion of_the hearing was_
President_Lynch_asking the ISO and_PX to name names on who_has been exerting 
market power. _Both the PX and the ISO said_that it would be impossible to_
determine from the information they_have. _Secondly, the analysis they have_
done show that_no single_market participant is_consistently exhibiting the 
ability (opportunity) to_exercise market power._ Therefore, at one point or_
another,_nearly every market_participant_has_market power.

Wolak_suggested that in_order_to reduce_the_amount of market power in peak_
periods,_require forward contracting OR increase profit incentives_in 
off-peak period, where_generators_many times sell below_short-run marginal 
costs.

No further quasi-legislative_hearings are planned. Start Date: 4/15/01;_HourAhead hour:_23; _No ancillary schedules awarded.  
Variances detected.
Variances detected in Energy Import/Export_schedule.
Variances detected in SC Trades schedule.

_   LOG_MESSAGES:

PARSING FILE_-->>_O:\Portland\WestDesk\California Scheduling\ISO Final_
Schedules\2001041523.txt

----_Energy Import/Export_Schedule ----
$$$ Variance found in table tblINTCHG_IMPEXP.
_ _  Details: (Hour: 23 /_Preferred:  12.00 /_Final:_ 11.98)
  TRANS_TYPE: FINAL
 _SC_ID: ECTRT
  MKT_TYPE: 2
 _TRANS_DATE: 4/15/01
  TIE_POINT: PVERDE_5_DE