Congestion Revenue Rights

Congestion Revenue Rights (CRRs) are financial instruments that result in a charge or a payment to the owner when the ERCOT transmission grid is congested in the Day Ahead Market (DAM). CRRs may be used as either a financial hedge or a financial investment. When used as a hedge, a CRR locks in the price of congestion at the purchase price of the CRR. When purchased as an investment, it may be used as a financial tool to speculate whether the congestion rent will be greater than the purchase price.

The main purposes of the ERCOT Congestion Revenue Rights (CRR) market are to:

  • Support a liquid energy market by providing tradable financial instruments for the hedging of transmission congestion charges
  • Allow market participants to eliminate or greatly reduce the cost uncertainties resulting from transmission congestion charges
  • Encourage competitive energy trading, where the costs of congestion might otherwise be an impediment

A and M Values
The ERCOT Board-approved values for A and M as referenced in Nodal Protocols Section 7.5.5.3 (1) (a) (iii) are set at $.75/MWh and 0 respectively. Currently, there are no initiatives in progress to update these values.
CRR Activity Calendar Opens new browser window
Contains key dates/deadlines relevant to CRR Market activities, including auction notice dates, CRR network model posting dates, auction bid/offer submission periods, PCRR nomination submission periods, and other relevant information.
CRR Annual Auction Notices Opens new browser window
CRR Auction Notices inform the public on upcoming CRR annual market activity, including auction notices and baseloading CRRs.
CRR Annual Auction Results Opens new browser window
Bids and offers awarded in an annual auction.
CRR Market User Interface Handbook
Provides ERCOT CRR Market Participants, i.e., Account Holders (AHs) and Counter-parties (CPs), with an introduction to ERCOT CRR System and its user interfaces, namely the Market User Interface (MUI).
CRR Market User Interface Specifications Opens new browser window
This document describes data items relevant to the CRR market that are submitted or retrieved by CRR Account Holders and Market Participants.
CRR Monthly Auction Notices Opens new browser window
The Monthly CRR Auction Notice provides information on upcoming CRR monthly market activity, including key dates and baseloading CRRs.
CRR Ownership of Record Opens new browser window
Existing CRRs include all CRRs allocated or awarded to date. Posted by the 5th business day of every month.
Monthly CRR Auction Results Opens new browser window
Bids and offers awarded in a monthly auction.