and (2) RTD IIE Settlement Amounts for Exceptional Dispatches are settled pursuant to Section 11.5.6. 11.5.2 Uninstructed Imbalance Energy Scheduling Coordinators shall be paid or charged a UIE Settlement Amount for each LAP, PNode or Scheduling Point for which the CAISO calculates a UIE quantity for each Settlement Interval. UIE quantities are calculated for each resource that has a Day-Ahead Schedule, Dispatch Instruction, Interchange Export Schedule or Metered Quantity. For MSS Operators electing gross Settlement, regardless of whether that entity has elected to follow its Load or to participate in RUC, the UIE for such entities is settled similarly to how UIE for non-MSS entities is settled as provided in this Section 11.5.2. The CAISO shall account for UIE every five minutes based on the resource’s Dispatch Instruction. For all resources, including Generating Units, System Units of MSS Operators that have elected gross Settlement, Physical Scheduling Plants, System Resources, Distributed Energy Resource Aggregations and all Participating Load, Reliability Demand Response Resources, and Proxy Demand Resources, the UIE Settlement Amount is calculated for each Settlement Interval as the product of its UIE MWh quantity and the applicable RTD LMP. The UIE Settlement Amount for non-Participating Load and MSS Demand under gross Settlement is settled as described in Section 11.5.2.2. For MSS Operators that have elected net Settlement, the UIE Settlement Amount is calculated for each Settlement Interval as the product of its UIE quantity and MSS Price. 11.5.2.1 Resource Specific Tier 1 UIE Settlement Interval Price The Resource-Specific Tier 1 UIE Settlement Interval Price is calculated as the resource’s total IIE Settlement Amount calculated pursuant to Section 11.5.1.1 for that Settlement Interval divided by its total IIE quantity (MWh) calculated pursuant to Section 11.5.1.2. 11.5.2.2 Hourly Real-Time Demand Settlement The Default LAP Hourly Real-Time will apply to CAISO Demand and MSS Demand under net Settlement of mbalance nergy, except for CAISO Demand not settled at the Default LAP as provided in Section 30.5.3.2. For each Settlement Interval, the differences between the Day-Ahead Scheduled
Scheduling Coordinators in the Spinning Reserve charge pursuant to Section 11.10.3. shall be allocated to all Scheduling Coordinators in proportion to their Spinning Reserve obligation quantity. The Spinning Reserve net requirement is the Real-Time Spinning Reserve requirement net of the sum of effective qualified Spinning Reserve self-provision over all resources. 11.10.4 Non-Spinning Reserves The charges an SC must pay for Non-Spinning Reserves for each Settlement Period of the Trading Day are based upon the product of SC’s hourly obligation for Non-Spinning Reserves (MWs) and the hourly user rate for Non-Spinning Reserves ($/MW). If the Scheduling Coordinator’s Operating Reserve Obligation (before selfprovision or Inter-SC Trade of Spinning Reserve or Non-Spinning Reserve) is negative, the Scheduling Coordinator may be entitled to a credit rather than a charge. In that case, the quantity of the Scheduling Coordinator’s negative Reserve Obligation (before selfprovision and Inter-SC Trade) shall be multiplied by the Negative Operating Reserve Obligation Credit Adjustment Factor (NOROCAF) computed for the Trading Hour as specified in Section 11.10.5. 11.10.4. Hourly User Rate Non-Spinning Reserves The hourly user rate for Non-Spinning Reserves is calculated as the ratio of: i) the sum of the portion of the Non-Spinning Reserve Cost used to meet the Non-Spinning requirement and a portion of the Regulation Up and Spinning Reserve costs that can substitute for Non-Spinning Reserve and ii) the Net Procurement quantity of Non-Spinning Reserves by the CAISO ($/MW). The CAISO’s Reserve Cost includes the costs associated with any Regulation Up Reserve or Spinning Reserve capacity used as Non-Spinning Reserve under Section 8.2.3.5. The CAISO’s Non-Spinning Reserve Cost is equal to: (i) the revenues paid to the suppliers of the total awarded Non-Spinning Reserve capacity in the Day-Ahead Market and Real-Time Market, minus, (ii) the payments rescinded due to either the failure to conform to CAISO Dispatch Instructions or the unavailability of the Non-Spinning Reserves under Section 8.10.8. The Net Procurement of Non-Spinning Reserves is equal to: (i) the amount (MWs) of total awarded Non-Spinning Reserve capacity in the Day-
* * * * 12.5.1 Under-Secured and Non-Compliant Market Participants The CAISO may take action under this Section 12.5.1 against a Market Participant if its Estimated Aggregate Liability, as calculated by the CAISO, at any time exceeds its Aggregate Credit Limit, or if a Market Participant fails to satisfy all of the minimum participation requirements set forth in Section 12.1. However, before taking action against a Market Participant based on failure to comply with Section 12.1(a) or 12.1(b)(i)-(iii), the CAISO must first notify the Market Participant of the failure and allow it (30) days after notification to cure the failure. The CAISO may take any or all of the following actions: (a) The CAISO may withhold a pending payment distribution. (b) The may limit trading, which may include rejection of Bids, including Self-Schedules, rejection or cancellation of Inter-SC Trades in their entirety (i.e., both sides of the Trade) at any time, and/or limiting other CAISO Market activity, including limiting eligibility to participate in a CRR Allocation or CRR Auction. In such case, the CAISO shall notify the Market Participant of its action and the Market Participant shall not be entitled to participate in the CAISO Markets or CRR Auctions or submit further Bids, including Self-Schedules, or otherwise participate in the CAISO Markets until the Market Participant posts an additional Financial Security Amount that is sufficient to ensure that the Market Participant’s Aggregate Credit Limit is at least equal to its Estimated Aggregate Liability. (c) The may require the Market Participant to post an additional Financial Security Amount in lieu of an Unsecured Credit Limit for a period of time. (d) The CAISO may restrict, suspend, or terminate the Market Participant’s CRR Entity Agreement or any other service agreement. (e) The CAISO may resell the CRR Holder’s CRRs in whole or in part, including any Long Term CRRs, in a subsequent CRR Auction or bilateral transaction, as appropriate.