Annual reconfiguration transactions (ARTs) provide an opportunity for participants to achieve price certainty by allowing them and their counterparties to facilitate a fixed-price private transfer, used in conjunction with submitting a demand bid or supply offer in the annual reconfiguration auction (ARA).
Annual reconfiguration transactions are available beginning with ARA 1 for CCP 2021–22.
In an ART, the difference between an agreed on price and the ARA clearing price is transferred between resources.
Annual reconfiguration transactions are submitted in the Forward Capacity Market Reconfiguration Auction User Interface (RA UI). A digital certificate is required to access the system. You must ask your security administrator for the ISO’s Customer and Asset Management System (CAMS) to provide you with one of the following roles on the basis of your expected activities:
If you don’t know who your security administrator is, contact Customer Support.
To access the system, click the Forward Capacity Market Reconfiguration Auction button on the SMD applications home page.
Transferring or acquiring resources may enter into provisional ARTs before the submission window opens and after approval of the corresponding FCA.
To submit an ART, you must identify the following:
The counterparty must confirm the transaction.
Important note: If participants’ ARA bids or offers do not clear the ARA or counterparty confirmation is not submitted by the close of the ARA submission window, the associated ART will not be automatically cancelled.
An ART will be rejected if either participant fails the financial assurance evaluation of all the transactions (ARTs, bids, and offers) or either a demand bid or supply offer is rejected for reliability.