5 · 2014. 6. 23. · B. ERCOT Staff Presentation to the ERCOT Board of 2014/2015 Biennial Budget...
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. ,._., 5 SE p PUCT PROJECT NO. 38533 -3 PUC REVIEW OF ERCOT BUDGET § PUBLIC UTILITY COM14IS,$I0N, : § OF TEXAS ERCOT'S 2014/2015 BIENNIAL BUDGET SUBMISSION TABLE OF CONTENTS ERCOT's 2014/2015 Biennial Budget Submission ................................................... 2 Attachment A - ERCOT Board Resolution Approving Proposed Budget and System ........... 7 Administration Fee Attachment B - ERCOT Staff Presentation to the ERCOT Board of 2014/2015 ................ 9 Biennial Budget Attachment C - Statement of ERCOT CEO Summarizing the 2014/2015 ......................... 53 Biennial Budget Attachment D - ERCOT 2014/2015 Biennial Budget Schedules and Workpapers .............. 58 Attachment E - ERCOT 2013 - 2017 Strategic Plan ................................................. 99 1 1 l 5
Transcript of 5 · 2014. 6. 23. · B. ERCOT Staff Presentation to the ERCOT Board of 2014/2015 Biennial Budget...
. ,._., 5
SEpPUCT PROJECT NO. 38533
-3
PUC REVIEW OF ERCOT BUDGET § PUBLIC UTILITY COM14IS,$I0N, :
§ OF TEXAS
ERCOT'S 2014/2015 BIENNIAL BUDGET SUBMISSION
TABLE OF CONTENTS
ERCOT's 2014/2015 Biennial Budget Submission ................................................... 2
Attachment A - ERCOT Board Resolution Approving Proposed Budget and System ........... 7Administration Fee
Attachment B - ERCOT Staff Presentation to the ERCOT Board of 2014/2015 ................ 9Biennial Budget
Attachment C - Statement of ERCOT CEO Summarizing the 2014/2015 ......................... 53Biennial Budget
Attachment D - ERCOT 2014/2015 Biennial Budget Schedules and Workpapers .............. 58
Attachment E - ERCOT 2013 - 2017 Strategic Plan ................................................. 99
1 1l5
PUCT PROJECT NO. 38533
PUC REVIEW OF ERCOT BUDGET § PUBLIC UTILITY COMMISSION
§§ OF TEXAS
ERCOT'S 2014/2015 BIENNIAL BUDGET SUBMISSION
COMES NOW, Electric Reliability Council of Texas, Inc. (ERCOT) and files its
2014/2015 Biennial Budget Submission, pursuant to P.U.C. SUBST. R. 25.363(d) and H.B. No.
1600 (the Sunset Act),' for review by the Commission.
1. Backaround & Summary
The Commission adopted P.U.C. SUBST. R. 25.363(d) on March 22, 2011. The rule
provides that ERCOT's annual budget and any change in the system administration fee are
subject to review by the Commission, and sets forth a process for Commission participation in
the budget development process for ERCOT. On May 25, 2013, the Texas Legislature, through
the Sunset Act, amended Public Utility Regulatory Act (PURA) Section 39.151 by amending
Subsections (d-1) and (e), and adding Subsection (d-2), (d-3), (d-4), and (e-1), with an effective
date of September 1, 2013. In relevant part, the Sunset Act specifies that the review and approval
of ERCOT's proposed budget, or a proceeding to authorize or set the range for the amount of a
System Administration Fee is not considered a contested case.2 The Sunset Act also authorizes
the Commission to request ERCOT to prepare either annual or biennial budgets.
Upon approval of an ERCOT budget, the Sunset Act requires the Commission to
authorize ERCOT to charge a "reasonable and competitively neutral" System Administration
Fee, within a range determined by the Commission, as the means for ERCOT to collect the
' On May 25, 2013, Section 39.151 of the Public Utility Regulatory Act (PURA) was amended by the TexasLegislature by amending Subsections (d-1) and (e), and adding Subsection (d-2), (d-3), (d-4), and (e-1), with aneffective date of September 1, 2013. See H.B. 1600, 83`d Leg., R.S., Article 1, Section 1.08, available athttn://www.canitol. state.tx.us/tlodocs/83 R/billtext/html/HB01600F.htm.
2 Id., Subsection (e-1).
22
revenues to fund its approved budget.3 ERCOT's System Administration Fee must be based on
ERCOT's expected cost of performing its required functions as described in PURA § 39.151(a)
and P.U.C. SUBST. R. 25.363. In determining whether ERCOT's System Administration Fee is
reasonable and necessary, the Commission may consider the following: (i) ERCOT's budget
justification; (ii) ERCOT's long-term operations plan; (iii) costs incurred by Market Participants
and other Independent System Operators for similar activities; (iv) costs incurred in prior years;
(v) capital projects identified in ERCOT's budget; and (vi) any other information and data
considered appropriate by the Commission.4
The 2014/2015 ERCOT biennial budget included in this submission contemplates an
increase in the ERCOT System Administration Fee from $0.4171 per Megawatt hour (MWh) in
2013 to $0.4650 per MWh for years 2014 and 2015. ERCOT's request does not seek to revise
the manner in which the System Administration Fee is charged and collected, which the
Commission has previously found to be reasonable and competitively neutral.5
In its 2014/2015 Biennial Budget Submission, ERCOT has included information and data
supporting the reasonableness of its budget request and the proposed increase to ERCOT's
System Administration Fee. ERCOT's proposed System Administration Fee represents the first
increase in the fee in nine years.6
II. Consultation with Commission Staff
In accordance with § 25.363(d), ERCOT staff consulted "with commission staff
designated by the executive director in connection with the development of the budget," and
3 Id., Subsection (e).
4 P.U.C. SuBS7'. R. 25.363(c).
5 See Application of the Electric Reliability Council of Texas to Change the ERCOTAdministrative Fee, Docket No.28832 (March 18, 2004); Application of the Electric Reliability Councilfor Approval of the ERCOT AdministrativeFee, Docket No. 31824 (May 15, 2006).
6 Application of the Electric Reliability Council of Texas to Change the ERCOT Administrative Fee, Docket No.28832 (March 18, 2004).
33
provided "to the staff information concerning budget strategies, staffing requirements, categories
of expenses, capital outlays, exceptional expenses and capital items, and proposals to incur
additional debt." ERCOT and Commission staff began the consultation meetings in March 2013,
and held regular meetings as ERCOT prepared its 2014/2015 biennial budget for approval by the
ERCOT Board in July 2013. Between the consultation meetings, ERCOT staff responded to
informal information requests from Commission staff regarding particular budget categories and
the format of ERCOT's budget presentation. To ERCOT's knowledge, it has responded to all the
requests or concerns raised by Commission staff in the consultation process.
As part of the consultation meetings, Commission staff recommended that ERCOT
continue to utilize a format for structuring the budget filed with the Commission that includes the
key components of the Legislative Appropriations Request (LAR) utilized by the Texas
Legislative Budget Board. ERCOT has organized its budget schedules to conform to the LAR
format to the extent possible, and has prepared a summary statement from ERCOT's President &
Chief Executive Officer similar to the LAR "Administrator's Statement." After the passage of
the Sunset Act, Commission staff requested that ERCOT file a biennial, rather than annual,
budget for review in the 2014/2015 budget cycle. In addition, Commission staff authorized
ERCOT to file its budget and fee request by a mutually agreed deadline of September 3, 2013.7
III. ERCOT Board Approval of 2014/2015 ERCOT Biennial Budaet
The ERCOT Board approved the proposed 2014/2015 ERCOT biennial budget at its
meeting on July 16, 2013. The ERCOT Board adopted the budget recommendations of ERCOT
staff and the Board's Finance and Audit (F&A) Committee, which included identification of
operating expenses, project spending, and debt service obligations. The F&A Committee
discussed the development of the 2014/2015 ERCOT biennial budget in public meetings held in
' The Commission's Order approving ERCOT's 2013 budget required ERCOT to file its 2014 budget request byMay 1, 2013, but permitted Commission staff to authorize a later filing date. The September 3, 2013 deadline wasmemorialized in a letter from PUC Special Counsel Thomas S. Hunter, filed on July 26, 2013 in Docket No. 38533(Interchange Item No. 14).
44
the first and second quarters of 2013.8 A copy of the July 16, 2013 ERCOT Board resolution
approving the budget is included in this submission as Attachment A. The budget presentation
made by ERCOT staff at the July 16, 2013 Board meeting is included as Attachment B.
The ERCOT Board's decision to approve the 2014/2015 ERCOT biennial budget was not
appealed by any party to the Commission. The Commission's procedural rules require that if a
party seeks Commission review of "ERCOT conduct," it must file its complaint at the
Commission "within 35 days of the ERCOT conduct complained of ... ."9 The term ERCOT
"conduct" is defined as "a decision or an act done or omitted to be done." 10 Under ERCOT's
governing documents, a vote of the ERCOT Board constitutes a "decision" made by ERCOT.11
The thirty-five (35) day appeal period expired on August 20, 2013, and no party has contested
the Board's approval of the 2014/2015 ERCOT biennial budget.
IV. Contents of ERCOT's Budget Submission
In addition to this pleading, ERCOT's budget submission includes the following
attachments:
A. ERCOT Board Resolution approving proposed budget and System AdministrationFee
B. ERCOT Staff Presentation to the ERCOT Board of 2014/2015 Biennial Budget
C. Statement of ERCOT CEO Summarizing the 2014/2015 Biennial Budget
D. ERCOT 2014/2015 Biennial Budget Schedules and Workpapers
E. ERCOT 2013 - 2017 Strategic Plan
8 The F&A Committee agendas and budget presentation materials are available at:http://www.ercot.com/committees/board/finance audit/.
9 P.U.C. PROC. R. 22.251(d). A party may also file a request for alternative dispute resolution (ADR) under Section20 of the ERCOT Protocols to contest ERCOT decisions. ERCOT would not expect a party contesting the budget tofile for ADR rather than appealing to the Commission under § 22.251, but ERCOT notes for the record that no partyfiled an ADR contesting the ERCOT Board's approval of the 2014/2015 ERCOT biennial budget.
10 Id., 22.251(b).
" ERCOT Bylaws, Section 4.7(b).
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V. Conclusion
ERCOT's 2014/2015 biennial budget submission, and the consultation process with
Commission staff prior to seeking ERCOT Board approval of its budget, conform to the
requirements for approval of the ERCOT budget included in P.U.C. SUBST. R. 25.363(d) and the
Sunset Act. ERCOT respectfully requests that the Commission take the actions necessary to
approve the 2014/2015 ERCOT biennial budget and authorize the proposed System
Administration Fee prior to the beginning of ERCOT's 2014 fiscal year on January 1, 2014.
Respectfully Submitted,
By:Bill MagnessGeneral CounselTexas Bar No. 12824020Austin, Texas 78744(512) 225-7076 (Phone)(512) 225-7079 (Fax)bmagnessna,ercot.com
ERCOT7620 Metro Center DriveAustin, TX 78744
66
Attachment A
ERCOr
ELECTRIC RELIABILITY COUNCIL OF TEXAS, INC.BOARD OF DIRECTORS RESOLUTION
WHEREAS, after due consideration of the alternatives, the Board of Directors (Board) ofElectric Reliability Council of Texas, Inc. (ERCOT) deems it desirable and in the best interest ofERCOT to accept the recommendations of ERCOT staff and the Finance and Audit (F&A)Committee that the Board approve ERCOT's proposed 2014 / 2015 Biennial Budget (Budget),which includes operating expenses, project spending, and debt service obligations; and
WHEREAS, Sections 4.10 (Duties) and 10.3 (Budget) of the Amended and Restated Bylaws ofElectric Reliability Council of Texas, Inc., approved on April 16, 2010 (Bylaws), requires thatthe Board approve the ERCOT Budget; and
WHEREAS, ERCOT staff discussed financial concepts, assumptions, methodologies andschedules relating to the Budget in a public meeting with the F&A Committee, and consultedwith the staff of the Public Utility Commission of Texas regarding development of the Budget;and
WHEREAS, ERCOT management presented its recommended 2014 / 2015 Biennial Budget,which includes a revenue requirement totaling $175,852,155 and $179,950,633 respectively withdebt-funded project spending of $15,000,000 each year; and
WHEREAS, the Budget proposed by ERCOT management will require an increase in theERCOT System Administration Fee from $0.4171 to $0.4650 for 2014 and 2015;
THEREFORE, BE IT RESOLVED, that the Board hereby:• Approves the recommended 2014 / 2015 Biennial Budget as set forth in Attachment A,
which includes $190,852,155 and $194,950,633 respectively total spending authorizationfor operating expenses, project spending, and debt service obligations; and
• Approves the request for a recommended increase to the ERCOT System AdministrationFee from $0.4171 to $0.4650 per megawatt-hour for 2014 and 2015; and
• Authorizes ERCOT Legal to file the Board-approved 2014 / 2015 Biennial Budget forapproval by the PUCT, pursuant to P.U.C. Substantive Rule Section 25.363(d).
CORPORATE SECRETARY'S CERTIFICATE
I, Vickie G. Leady, Assistant Corporate Secretary of ERCOT, do hereby certify that, at its July16, 2013 meeting, the ERCOT Board passed a motion approving the above Resolution byunanimous voice vote with no abstentions.
IN WITNESS WHEREOF, I have hereunto set my hand this 17th day of July, 2013.
^^ ^ -(- c:: czVickie G. LeadyAssistant Corporate Secretary
Item 9.1ERCOT Public 7
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R or Attachment B
Date: July 9, 2013To: Board of DirectorsFrom: H.B. "Trip" Doggett, ERCOT President and Chief Executive Officer (CEO)Subject: 2014 / 2015 Biennial Budget
Issue for the ERCOT Board of Directors
ERCOT Board of Directors Meeting Date: July 16, 2013Item No.: 9.1
Issue:Whether the Board of Directors (Board) of Electric Reliability Council of Texas, Inc. (ERCOT)should approve ERCOT staff's recommended 2014 / 2015 Biennial Budget, which includesoperating expenses, project spending, and debt service obligations, with funding sources toinclude an increase to the ERCOT System Administration Fee.
Background/History:Sections 4.10 (Duties) and 10.3 (Budget) of the ERCOT Bylaws requires that the Board approvethe ERCOT Budget. Section 3.3 of the Board Policies and Procedures, amended effective July1, 2012 (Board Policies), provides as follows:
The CEO will present to the Board ... an annual Budget to carry out the Board'sdirectives for the following year. The Budget will include projections ofERCOT's overall financial performance and financing plans, and describe theservices, projects, programs, and the associated revenues and expenditures forthe next fiscal year. Adoption of the Budget by the Board and as approved bythe PUCT authorizes the CEO to complete work plans and make associatedexpenditures as provided for in accordance with the Budget.
Public Utility Commission of Texas (PUCT) Substantive Rule Section 25.363(d) provides thatthe ERCOT Budget and any change in the system administration fee are subject to review andapproval by the PUCT. PUCT Substantive Rule Section 25.363(d) further provides that, priorto submission of the ERCOT Budget for Board approval, ERCOT shall consult with PUCT staffin connection with the development of the Budget and provide PUCT staff with informationconcerning budget strategies, staffing requirements, categories of expenses, capital outlays,exceptional expenses and capital items, and proposals to incur additional debt. EffectiveSeptember 1, 2013, H.B. No. 1600, Section 1.08,authorizes ERCOT, with PUCT approval, tocharge a system administration fee, within a range determined by the PUCT, that is reasonableand competitively neutral to fund the approved budget. In the first and second quarters of 2013,ERCOT staff discussed financial concepts, assumptions, methodologies, schedules and a systemadministration fee range relating to the 2014 / 2015 Biennial Budget with the PUCT staffdesignated by the PUCT Executive Director.
Item 9.1ERCOT Public
9
R OTERCOT management will present its recommended 2014 / 2015 Biennial Budget to the F&ACommittee on July 15, 2013. The recommended 2014 / 2015 Biennial Budget includes revenuerequirements of $175,852,155 in 2014 and $179,950,633 in 2015. The Biennial Budget alsoincludes debt-funded project spending of $15,000,000 each year, which enables ERCOT toundertake projects totaling $25,000,000 each year.
The recommended 2014 / 2015 Biennial Budget requires an increase to the ERCOT SystemAdministration Fee from $0.4171 to $0.4650 per megawatt-hour The ERCOT SystemAdministration Fee has been the same rate of $0.4171 from 2006-2013.
2014 2015Recommended Recommended
Amount Amount($ in thousands) ($ in thousands)
Revenue sourcesERCOT System Administration Fee $159,309 $163,345NERC/ERO pass-through cost recovery 12,000 12,000Other revenue 4,543 4,605Subtotal - Revenue sources $ 175 ,852 $179,951
Revenue reuuirementsOperating and maintenance $136,189 $138,825Debt service (principal and interest) 17,663 19,125NERC/ERO pass-through cost 12,000 12,000Revenue-funded project spending 10,000 10,000Subtotal - Revenue requirements $17M52 $179,951
Spending authorizationRevenue requirements 175,852 179,951Debt-funded project spending 15,000 15,000Total - Spending authorization $190,852 $194951
The F&A Committee will meet prior to the Board meeting on Monday, July 15, 2013, and isexpected to make a recommendation to the Board regarding the 2014 / 2015 Biennial Budget.The Board is expected to consider the F&A Committee's recommendation on Tuesday, July 16,2013.
If the F&A Committee recommends that the Board approve the 2014 / 2015 Biennial Budgetand the Board so approves the Budget, then ERCOT staff will seek PUCT approval of theBoard-approved 2014 / 2015 Biennial Budget, as required by PUCT Substantive Rule Section25.363(d).
Item 9.1ERCOT Public
10
E 4TKey Factors Influencing Issue:
• Sections 4.10 and 10.3 of the Bylaws require that the Board approve the ERCOT Budgetfor the ensuing one or more fiscal years.
• ERCOT requires approval of the Budget by the Board and the PUCT for funding toenable ERCOT to fulfill its statutory functions as an independent organization asrequired by PURA Section 39.151(a). For instance, ERCOT must have adequate fundsin 2014 and 2015 to:
o Staff appropriately to participate in and support full market operations;o Implement system improvements and required functionality to support the
market;o Maintain compliance with the Financial Corporate Standard and associated
financial performance measures as approved by the Board;o Fund independent market monitoring and Public Utility Regulatory Act (PURA)
compliance functions;o Enhance and maintain the computer systems and associated services contracted
for with vendors; ando Maintain necessary facilities to provide secure operations and house staff.
Conclusion/Recommendation:ERCOT management respectfully requests that the F&A Committee recommend management'srecommendations for Board approval, and that the Board:
• Approve the recommended 2014 / 2015 Biennial Budget as set forth in Attachment A,which includes $190,852,155 and $194,950,633 respectively total spendingauthorization for operating expenses, project spending, and debt service obligations;
• Approve the recommended increase to the ERCOT System Administration Fee from$0.4171 to $0.4650 per megawatt-hour for 2014 and 2015; and
• Authorize ERCOT Legal to file the Board-approved 2014 / 2015 Biennial Budget forapproval by the PUCT, pursuant to P.U.C. Substantive Rule Section 25.363(d).
Item 9.1 3ERCOT Public
11
R OTELECTRIC RELIABILITY COUNCIL OF TEXAS , INC.
BOARD OF DIRECTORS RESOLUTION
WHEREAS, after due consideration of the alternatives, the Board of Directors (Board) ofElectric Reliability Council of Texas, Inc. (ERCOT) deems it desirable and in the best interest ofERCOT to accept the recommendations of ERCOT staff and the Finance and Audit (F&A)Committee that the Board approve ERCOT's proposed 2014 / 2015 Biennial Budget (Budget),which includes operating expenses, project spending, and debt service obligations; and
WHEREAS, Sections 4.10 (Duties) and 10.3 (Budget) of the Amended and Restated Bylaws ofElectric Reliability Council of Texas, Inc., approved on April 16, 2010 (Bylaws), requires thatthe Board approve the ERCOT Budget; and
WHEREAS, ERCOT staff discussed financial concepts, assumptions, methodologies andschedules relating to the Budget in a public meeting with the F&A Committee, and consultedwith the staff of the Public Utility Commission of Texas regarding development of the Budget;and
WHEREAS, ERCOT management presented its recommended 2014 / 2015 Biennial Budget,which includes a revenue requirement totaling $175,852,155 and $179,950,633 respectively withdebt-funded project spending of $15,000,000 each year; and
WHEREAS, the Budget proposed by ERCOT management will require an increase in theERCOT System Administration Fee from $0.4171 to $0.4650 for 2014 and 2015;
THEREFORE, BE IT RESOLVED, that the Board hereby:• Approves the recommended 2014 / 2015 Biennial Budget as set forth in Attachment A,
which includes $190,852,155 and $194,950,633 respectively total spending authorizationfor operating expenses, project spending, and debt service obligations; and
• Approves the request for a recommended increase to the ERCOT System AdministrationFee from $0.4171 to $0.4650 per megawatt-hour for 2014 and 2015; and
• Authorizes ERCOT Legal to file the Board-approved 2014 / 2015 Biennial Budget forapproval by the PUCT, pursuant to P.U.C. Substantive Rule Section 25.363(d).
CORPORATE SECRETARY'S CERTIFICATE
I, Vickie G. Leady, Assistant Corporate Secretary of ERCOT, do hereby certify that, at its July16, 2013 meeting, the ERCOT Board passed a motion approving the above Resolution by
IN WITNESS WHEREOF, I have hereunto set my hand this _ day of July, 2013.
Vickie G. LeadyAssistant Corporate Secretary
Item 9.1 4ERCOT Public
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Attachment C
PROJECT NO. 38533
PUC REVIEW OF ERCOT BUDGET § PUBLIC UTILITY COMMISSION
§§ OF TEXAS
STATEMENT OF ERCOT CHIEF EXECUTIVE OFFICER SUMMARIZING2014/2015 ERCOT BIENNIAL BUDGET AND BUDGET STRATEGIES
Introduction
Electric Reliability Council of Texas, Inc. (ERCOT) presents a 2014/2015 biennialbudget that provides for an increase in ERCOT's System Administration Fee - its primaryfunding source - from $0.4171 per Megawatt hour (MWh) in 2013 to $0.4650 per MWh foryears 2014 and 2015. This increase in the System Administration Fee is the first since 2006.ERCOT management and its Board of Directors are gratified that the development of the Board-approved 2014/2015 biennial budget was the result of a productive collaboration withCommission staff.
We present the following information for the Commission's consideration, in a format modeledon the "Administrator's Statement" utilized by Texas state agencies in their LegislativeAppropriations Requests. In addition to this statement, ERCOT has filed with the Commissionthe supporting documentation required by Commission rules or otherwise requested byCommission staff.
ERCOT is prepared to provide additional information at the Commission's request.
ERCOT Overview
ERCOT manages the flow of electric power to approximately 23 million Texascustomers, representing 85 percent of the state's electric load and 75 percent of Texas land area.As the independent system operator (ISO) for the region, ERCOT schedules power on an electricgrid that connects 40,500 miles of transmission lines and more than 550 generation units.ERCOT also manages financial settlement for the competitive wholesale bulk-power market andadministers customer switching for 6.7 million Texans in competitive choice areas.
ERCOT is a Texas non-profit corporation, operating as a tax-exempt organization under§501(c)(4) of the Internal Revenue Code. ERCOT's core duties are delineated in Section 39.151of the Texas Public Utility Regulatory Act (PURA). As the "independent organization"designated to serve as the ISO for the ERCOT power region, ERCOT is responsible forperforming the following functions:
(1) Ensure access to the transmission and distribution systems for all buyers andsellers of electricity on nondiscriminatory terms;
5353
(2) Ensure the reliability and adequacy of the regional electrical network;
(3) Ensure that information relating to a customer's choice of retail electric provideris conveyed in a timely manner to the persons who need that information; and
(4) Ensure that electricity production and delivery are accurately accounted foramong the generators and wholesale buyers and sellers in the region.'
ERCOT's actions in furtherance of its statutory mission are subject to the oversight andreview of the Commission. In addition, ERCOT is responsible for ensuring compliance withfederal electric reliability standards, pursuant to the Federal Power Act. For federal reliabilitystandards, ERCOT is accountable to the Texas Reliability Entity (TRE), the North AmericanElectric Reliability Corporation (NERC), and the Federal Energy Regulatory Commission(FERC).
ERCOT is governed by a Board of Directors (Board), the composition of which ismandated by statute,2 as is the Commission's oversight role.3 The members of ERCOT's Boardand the dates of their terms are identified in the schedules as Workpaper 1 in Attachment D,ERCOT 2014/2015 Biennial Budget Schedules and Workpapers. The identification of ERCOT'sBoard members is as of the date of this filing; the annual election of directors representingmarket segments, and the expiration of terms for unaffiliated directors, could result in new Boardmembers serving in 2014 and 2015.
Hi2h-Level 2014/2015 Biennial Budget Overview
Spending Authorization
The 2014/2015 ERCOT biennial budget approved by the ERCOT Board authorizes$190.9 million of total spending for operating expenses, project spending, and debt service for2014, and $195.0 million of total spending for operating expenses, project spending, and debtservice for 2015. The 2014/2015 ERCOT biennial budget includes a revenue requirement of$175.9 million in 2014 and $180.0 million in 2015. The 2014/2015 ERCOT biennial budgetaccounts for $10.0 million each year for revenue-funded project spending, and $15.0 millioneach year for debt-funded project spending, which enables ERCOT to undertake projects totaling$25.0 million each year.
The proposed 2014/2015 budget focuses on attracting, developing and retaining high-quality staff; maintaining and building upon technical infrastructure needed to manage the gridand market effectively; and implementing market and regulatory initiatives. As ERCOT's BoardChairman, Mr. Craven Crowell, noted when the ERCOT Board approved the budget and fee
' PURA § 39.151(a)(1)-(4).
2 See PURA § 39.151(g).
See PURA § 39.151(c)-(f). The Commission's oversight of ERCOT is further detailed in Chapter 25, Subchapter0, Division 2 (Independent Organizations) of the P.U.C. Substantive Rules, and in Sections 22.251 - 22.252 ofthe P.U.C. Procedural Rules.
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change: "If we are to ensure the continued success of ERCOT, we must be able to makenecessary investments in the sophisticated technology that we must use and, of course, in thesmart people who run those systems. This is what is required to run a world-class electric systemthat supports a vibrant and growing economy."
As documented in the materials filed with this application, ERCOT management andstaff are dedicated to running efficient operations. In recent years, ERCOT has saved millions ofdollars by actively managing vendor relationships, driving costs down through competitiveprocesses, and conducting detailed reviews of every new project and hiring decision. Thosepractices will continue at ERCOT, but could not fully offset the need to request increasebudgetary and fee authority for 2014/2015.
ERCOT is also responsible for budgeting to fund the operations of the NERC ElectricReliability Organization (ERO). Funding for the NERC/ERO is derived from the SystemAdministration Fee (SAF), but is not used to fund ERCOT operations. A total of $24.0 million ofERCOT's 2014/2015 biennial budget will be used to fund the NERC/ERO for 2014 and 2015.
Revenue Sources
The 2014/2015 ERCOT biennial budget requires an increase to the ERCOT SystemAdministration Fee (SAF) from $0.4171 MWh to $0.4650 MWh. ERCOT has held the SystemAdministration Fee steady for nine years, but is convinced that our duties cannot be managedeffectively without the requested increase. The ERCOT Board and management are acutelyaware that it is the consumers of Texas who fund ERCOT, and that we must remain focused onrunning a lean but effective organization that not only meets but exceeds the performanceexpectations of those we serve.
The Commission's rules4 permit the ERCOT Board to approve user fees for specificservices provided by ERCOT to market participants and the public. These user fees are includedin the ERCOT Fee Schedule that is maintained along with the ERCOT Protocols. While userfees do not recover a large portion of ERCOT's revenue requirement (they are expected togenerate $4.5 million in 2014 and $4.6 million in 2015), ERCOT regularly reviews user fees toensure they recover appropriate costs.5 ERCOT may recommend other user fee changes to theBoard while the 2014/2015 ERCOT biennial budget is in effect, but management is not aware ofspecific new fees or their revenues at this time.
4 See P.U.C. SUBST. R. 25.363(f).
5 Since March 2011, when the Commission authorized the ERCOT Board to approve changes in user fees, theBoard has revised or created fees associated with security screening studies related to interconnection with theERCOT system, Wide Area Network access, and registration and access to the ERCOT Market Information System.Estimated revenues from these fees are incorporated in the 2014/2015 ERCOT biennial budget.
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Summary Table
Revenue SourcesSystem Administration FeeNERC/ERO pass-through cost recoveryOther revenueSubtotal - Revenue sources
Revenue RequirementsOperating and maintenanceDebt service (principal and interest)NERC/ERO pass-through cost recoveryRevenue-funded project spendingSubtotal - Revenue requirements
Spending AuthorizationRevenue requirementsDebt-funded project spendingTotal - Spending authorization
2014 Board Approved Amount 2015 Board Approved Amount($ in thousands) ($ in thousands)
$159,309 $163,345$12,000 $12,000
$4,543 $4,605$175,852 $179,951
$136,189 $138,825$17,663 $19,125$12,000 $12,000$ 10 ,000 $ 10 ,000
$175,852 $179,951
$175,852 $179,951$15,000 $15,000
$190,852 $194,951
Mission and Driving Forces
ERCOT's mission and driving forces are detailed in its 2013 - 2017 Strategic Plan, whichis included in ERCOT's 2014/2015 Biennial Budget Submission as Attachment E, ERCOT 2013- 2017 Strategic Plan.
Budget Strategies
ERCOT's budget strategies reflect the organization's focus on successfully addressingthe driving forces that challenge achievement of its mission. The budget strategies are organizedaround ERCOT's core functions, and delineated by the specific capabilities the organizationmust have to perform its duties.
The capability-based model for budget planning is derived from a management review in2010 that produced recommendations for ERCOT operations in the nodal market environment.The Capability Assessment identified ERCOT's seven main functions as: Transmission SystemOperations; Retail Market Operations; Wholesale Market Operations; Renewable EnergyCredits; Customer Care; Information Technology; and Other Support and ManagementFunctions. The seven primary functional capability groups became the basis for ERCOT'sidentification of its budget strategies detailed in the supporting schedules filed with ERCOT's2014/2015 Biennial Budget Submission.
The key functions included in the seven categories tie back to ERCOT's core functions.While not exhaustive, the following list provides a summary of capabilities included in each ofthe budget strategy groups:
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• Transmission System Operations: Real time operation of the ERCOT system;maintenance of grid security; scheduling, dispatch, and outage coordination; systemplanning; load and wind forecasting; interconnection studies and coordination; systemperformance measurement and testing; and compliance monitoring and reporting.
• Retail Market Operations: Maintenance of retail customer switching registry; registrationof retail electric providers; load profile determination and management; collection andaggregation of metering data; retail market development; and dispute management.
• Wholesale Market Operations: Management of processes enabling day-ahead and real-time market transactions; development of wholesale market rules and procedures;management of Congestion Revenue Rights (CRR) and other hedging transactions; anddevelopment and maintenance of market information and analysis.
• Renewable Energy Credits: Defining eligibility criteria for obtaining Renewable EnergyCredits (RECs); establishing eligibility and registering REC holders; managingownership of RECs; and maintaining and updating REC program information.
• Customer Care: Management of direct customer relationships with Qualified SchedulingEntities (QSEs) operating in ERCOT; providing education programs and coordinatingstakeholder processes; and maintaining a help desk to resolve issues with ERCOT marketinformation and IT systems.
• Information Technology: Information Technology (IT) support, applications andinfrastructure; and IT strategy and planning. While IT provides corporate support acrossthe organization, the IT-centric nature of all of ERCOT's operations justifies a separatebudget strategy category for IT capabilities.
• Other Support & Management Functions: Corporate support includes executive,accounting, legal, regulatory, external relations, risk management, strategic planning, andinternal audit; and providing resources and information to the ERCOT Board.
ERCOT's 2014/2015 Biennial Budget Submission includes, in Attachment D, ERCOT2014/2015 Biennial Budget Schedules and Workpapers, schedules that detail ERCOT'sexpenditures by budget strategy.
Conclusion
ERCOT will provide additional information as requested to facilitate the Commission'sreview of ERCOT's 2014/2015 Biennial Budget Submission. ERCOT respectfully requests thatthe review process conclude by year-end 2013, so ERCOT can implement the 2014/2015biennial budget and proposed System Administration Fee beginning January 1, 2014.
H.B. "Trip" DoggettERCOT President & Chief Executive Officer
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Attachment D
SCHEDULES AND WORKPAPERS
TABLE OF CONTENTSDescription Page No.
Schedule 1: Summary by Capability ............. .................................................. 60
Schedule 2: Method of Finance .... ............ .................................................... 61
Schedule 3: Summary by Object of Expense ...... ............................................... 62
Schedule 4: Capability 1- Transmission System Operations ................................. 63
Schedule 4a: Key Performance Indicators - Transmission System Operations ............. 64
Schedule 5: Capability 2 - Retail Market Operation ........ .................................... 65
Schedule 5a: Key Performance Indicators - Retail Market Operation ........................ 66
Schedule 6: Capability 3 - Wholesale Market Operation ....................................... 67
Schedule 6a: Key Performance Indicators - Wholesale Market Operation ................... 68
Schedule 7: Capability 4 - Renewable Energy Credits .. . . .. . ......... ........ .......... . .. .... 69
Schedule 7a: Key Performance Indicators - Renewable Energy Credits ..................... 70
Schedule 8: Capability 5 - Customer Care ...................................................... 71
Schedule 8a: Key Performance Indicators - Customer Care .................................... 72
Schedule 9: Capability 6 - Information Technology ............................................ 73
Schedule 9a: Key Performance Indicators - Information Technology ......................... 74
Schedule 10: Capability 7- Management Functions & Debt Service ......................... 75
Schedule 10a: Key Performance Indicators - Management Functions & Debt Service .... 76
Schedule 11: Information Technology and Administrative Cost Summary ................. 77
Schedule 11 a: Indirect/Support Allocation to Transmission System Operation .. .......... 78
Schedule l ib: Indirect/Support Allocation to Retail Market Operation ..................... 79 -
Schedule 11 c : Indirect/Support Allocation to Wholesale Market Operation ...... .......... 80
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Schedule I 1 d: Indirect/Support Allocation to Renewable Energy Credits .. .. . .. ... .. ...... . 81
Schedule 11 e: Indirect/Support Allocation to Customer Care .. . . . . . .. .. .... . .............. ... 82
Schedule 12: Salaries and Wages .................................................................. 83
Schedule 13: Other Personnel Costs .............................................................. 84
Schedule 14: Utilities ................................................................... ........... 85
Schedule 15: Rent Building ........................................................................ 86
Schedule 16: Other Operating Expenses .................................. 87.......................
Schedule 17: Hardware/Software Maintenance & License .................................... 88
Schedule 18: Summary by Capability-Exception Requests .................................... 89
Schedule 19: Summary by Object of Expense-Exception Requests .......................... 90
Workpaper 1: Board of Directors .................................................................. 91
Workpaper 2: Project Assignment by Capability ............................................... 92
Workpaper 3: Object of Expense Mapping - ABEST to ERCOT ............................ 94
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ERCQ'T's MISS1OnWe serve the public by ensuring a reliable
grid, efficient electricity markets, openaccess and retail choice.
The Electric Reliability Council of Texas (ERCOT) manages the flowof electric power to approximately 23 million Texas customers -representing 85 percent of the state's electric load and 75 percent ofthe Texas land area. As the Independent System Operator for theregion, ERCOT schedules power on an electric grid that connects40,500 miles of transmission lines and more than 550 generationunits. ERCOT also manages financial settlement for the competitivewholesale bulk-power market and administers customer switching for6.6 million premises in competitive choice areas.
ERI ; _^ ^^^1 ^ ` ^^
VI S IOnJ .. y j4 ^,.. l ^a ^.^L^.. ^t^ ^^` ,...,!
Proactively evaluate and addressresource and transmission adequacy
risks leveraging emerging technologiesand new market products while effectively
communicating those risks to ourstakeholders.
100
. .^
Accountability;.^
Taking personal responsibility fordoing the right things the right way.
. ,^.;;
Innovation
Implementing and operating creatisolutions.
Expertise
.,^Developing and demonstratingrespected skill and knowledge.
DsQT'V,0a 1 .' a
.^;
Leadership. _ ^
_--^-,
Developing a vision and ensuring itssuccessful completion.
Building confidence and consistencthrough reliability, truth, and ability.
. Resource Adequacy
. Transmission Adequacy
Drivers . Market Evolution
. Regulatory Environment
. Complexity of the BusinessEnvironment
Resource Adequacy:ERCOT's role in the competitive market is to provide an outlook for futurepeak demand and how much generation will be needed to maintain long-term reliability of the electric grid. Energy demand growth withoutcommensurate increased capacity is expected to continue to put pressureon reserve margins in upcoming years. ERCOT must be able to anticipateand respond rapidly to changes in market dynamics, rules, and processesthat are directed toward ensuring resource adequacy.
Transmission Adequacy:Load growth and changes in load and generation location may lead totransmission constraints on the ERCOT grid. In order to improve gridreliability and power deliverability as well as to reduce congestion andimprove grid efficiency, ERCOT completes system planning studies of theERCOT transmission system. ERCOT will work with transmission ownersand stakeholder committees to ensure a transmission system that cost-effectively meets relevant NERC standards and ERCOT Protocolrequirements, facilitates the ERCOT market, and appropriately accounts forlow probability events that could have significant market impact.
102
Market Evolution:There is a correlation between actions taken to ensure reliability and theimpact those actions have on prices within the marketplace. The marketshould be designed to send accurate price signals, drive reliability andtransparency, and provide opportunities to mitigate risk to MarketParticipants.
Regulatory Environment:Proposed environmental standards and their implementation timelines canimpact resource adequacy and reserve margins. Potential changes tomarket rules, changes to NERC event analysis requirements, new NERCrequirements, and support of PUCT Protocol and Operating Guideenforcement all require close coordination between ERCOT and state andnational regulators.
Cyber Security:The ongoing evolution of cyber threats requires ERCOT to continuallyreassess and upgrade its cyber security defenses and risk managementcapabilities. Potential national cyber security legislation and thedetermination of which federal agency ultimately has jurisdiction regardingthe development and implementation of new security standards will impactERCOT.
New and Emerging Technologies:A variety of new resource types are entering the market place. To ensureappropriate integration of these new resources, ERCOT, in cooperationwith the Public Utility Commission of Texas and Market Participants, maydesign and execute clearly defined pilot programs to explore thecapabilities and behaviors of various emerging technologies. Utilizing thedata collected through pilot programs, stakeholders in the ERCOT regionwill be better positioned to develop Protocol language to integrate newtechnologies.
Complexity of the Business Environment:The complexity of the ERCOT environment and the technology required todesign, develop and execute ERCOT operations and markets requirehighly skilled individuals. Such expertise is in high demand, limited supplyand difficult to develop. ERCOT is continuously challenged to attract,develop and retain individuals with subject matter expertise and familiaritywith ERCOT processes.
103
h' s
AKOT
S.. ^^^', o ^^^^.i^ > Qi t
Grid Management Market Evolution
Compliance, Security,and Enterprise Risk
Management
External AffairsHuman Resources
and Organizational
Development
104
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Manage the grid in a manner thatmaintains a high level of reliability.
1.1 Work with Market Participants to ensurethe grid is positioned to effectivelyrespond to future operational challenges.
1.2 Develop a long-term (greater than fiveyears) transmission strategy for theregion and incorporate into the mid-term(one to five years) transmission plan.
1.3 Guide the market in the integration ofemerging technologies and demandresponse into the ERCOT grid.
105
.
^ 3 ^ ^E^J^f tiE ^^IMnkt
Manage the development ofwholesale and retail markets to meeta changing business environment.
2.1 Facilitate market development thatincents resource investment.
2.2 Recognize and remedy anomalies in, andimplement improvements to, the marketdesign.
2.3 Evaluate opportunities for loads andalternate technologies to participate inthe wholesale market.
2.4 Ensure credit requirements areappropriate to support financial stabilityof the ERCOT market.
2.5 Develop and support enhancements tothe ERCOT retail market.
2.6 Support the market evolution of newproducts and services to increaseparticipation in demand responseprograms.
106
^ ?^^'1 Y^ 1^ ^I^}^^^I^^^ ^t i I ^" .tiS ec u1
tk^ ^^^ ^s ^ L^Ii neI ^
E itr rin \l''j ID^..€ ^ ; f^^ R,,,, ^ ^ ^^^ ^r ^^^^i-n ^^ ^ ^ .
Meet the requirements forcompliance with risk based reliability
standards, cyber securityrequirements, and Protocol and
Operating Guides.
3.1 Promote a "Culture of Reliability, Securityand Compliance" throughout ERCOTconsistent with the evolving focus ofNERC, FERC and TRE.
3.2 Deploy best practice processes andincorporate NAESB standards to meetcompliance expectations.
3.3 Actively participate in industrycommittees and in partnership withNERC, FERC and ISO experts.
3.4 Assist the PUCT in Protocol andOperating Guides compliance.
3.5 Prioritize security initiatives to defendERCOT's sensitive information andcritical assets.
3.6 Integrate enterprise risk managementacross the organization.
107
a,IAf f ^ ^ ^.^,
Develop and maintain productiveexternal relationships through
proactive, effective andcomprehensive communications.
4.1 Provide timely, accurate and usefulinformation to external audiencesincluding policy makers, marketparticipants, consumers and otherstakeholders.
4.2 Strategically expand ERCOT's profile anddevelop its reputation as an independentvoice and thought leader to assist policymakers in their deliberations.
4.3 Implement effective outreach strategiesduring times of grid alerts and appealsfor conservation.
108
I^^ jz ^ ^...y
Attract, develop and retain a highlyskilled workforce.
5.1 Enhance performance management andtalent identification processes.
5.2 Focus on career development andgrowing needed skills.
5.3 Refine the succession planning processfor executive and director level positions.
5.4 Expand recruiting and retention bycapitalizing on ERCOT's image as anindustry leader in retail, wholesale andgrid operations.
5.5 Recognize and celebrate individual andteam accomplishments.
109
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