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Is there a cap on reservation price for Congestion Revenue Right (CRR) offers in the Day-Ahead Market (DAM)?

April 26, 2017cap congestion crr day-ahead market offers price reservation revenue right

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Is there a cap on reservation price for Congestion Revenue Right (CRR) offers in the Day-Ahead Market (DAM)?

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There is no cap on the minimum reservation price for CRR Offers in the DAM. Point-to-Point (PTP) Options and PTP Options with Refund that are declared by Non Opt-In Entities (NOIEs) for Real-Time settlement may specify an offer price (Minimum Reservation Price) in the DAM. If no Minimum Reservation Price is specified, ERCOT shall assign a default value of $2,000 per MW per hour, as an offer in the DAM. If such an offer clears in the DAM, it is settled as part of the DAM and is not carried to Real-Time.