The Essential Functions of An RTO/ISO

The Essential Functions of An RTO/ISO

Instructions/Descriptions

The Essential Functions of An RTO/ISO

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References in addition to your textbook:

• Energy Primer https://www.ferc.gov/sites/default/files/2020-05/energy-primer.pdf
• Busby, Joshua W., et al. “Cascading risks: Understanding the 2021 winter blackout in Texas.” Energy Research & Social Science 77 (2021): 102106. https://www-sciencedirect-com.proxy.lib.pdx.edu/science/article/pii/S2214629621001997
• Covert, Thomas, Michael Greenstone and Christopher R. Knittel. 2016. “Will We Ever Stop Using Fossil Fuels?” Journal of Economic Perspectives, 30(1): 117-38. http://stats.lib.pdx.edu/proxy.php?url=https://www.aeaweb.org/articles?id=10.1257/jep.30.1.117
• “Coal’s decline: Driven by policy or technology?.” The Electricity Journal 29.7 (2016): 50-61. https://stats.lib.pdx.edu/proxy.php?url=https://www.sciencedirect.com/science/article/pii/S104061901630121X
• Empirical grid impact of in-home electric vehicle charging differs from predictions
• Reduced grid operating costs and renewable energy curtailment with electric vehicle charge management
• All the table reads 

Question Options

1. Starting on page 143 of Dahl, there is a narrative about the function of capacity requirements in the collapse of the CalPX. What happened? How did a lack of capacity requirements help cause a problem?  How did California and FERC react?
2. On about page 127 of Dahl, there is a taxonomy of deregulation.  How do the UK, Norway, and Texas fit in this taxonomy?  Be sure to support your answer.
3. What are the essential functions of an RTO/ISO?  How is this different from a traditional vertically integrated rate of return regulated, i.e., cost regulated, electric utility?  Please keep this response to a page or so maximum.
4. Using average and marginal cost diagrams, show why high fixed-cost generators, such as PV and Nuclear, tend to bid lower prices in energy markets.  Hint this is a combination of the primer, your textbook, and EC311 knowledge.
5. Section 3.2 of “Coal’s decline …” argues that existing coal power plants can be profitably converted to natural gas use and can continue operating either as combined coal and combined-cycle natural gas power plant or as a pure combined-cycle natural gas power plant gas generating facility reusing some of the older equipment. Why?
6. Look at figure 2-2 in the book. What is the significance of the horizontal line at 1? Why do you think oil was not modeled to at least equal one, but wood was? (Part of the must-haves for this chapter but not addressed in the reads)
7. The Busby paper tells a narrative about the supply of electricity in Texas interrupted by under-weatherized generation units, price caps, horrible weather, and a lack of transmission connection to other regions.
8. Layout the supply and demand diagrams and narrative for a real-time market that describes the shocks to the ERCOT system.  Be sure to include the price cap in your analysis.
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10. Expanding on your analysis, show how better regional connections as described in section 4.5 would help.
    

    The Essential Functions of An RTO/ISO

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