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NPRR323
Summary
| Title | Correct DAM Credit Exposure Language and Enable Qualified Expiring CRRs to Offset PTP Bid Exposure |
|---|---|
| Next Group | |
| Next Step | |
| Status | Approved on 03/22/2011 |
| Effective Dates |
07/26/2011
All sections except for Section 4.4.10(6)(a) 08/24/2011
Section 4.4.10(6)(a) |
Action
| Date | Gov Body | Action Taken | Next steps |
|---|---|---|---|
| 03/22/2011 | BOARD | Approved | |
| 03/03/2011 | TAC | Recommended for Approval | ERCOT Board consideration |
| 02/17/2011 | PRS | Recommended for Approval | TAC consideration |
Voting Record
| Date | Gov Body | Motion | Result |
|---|---|---|---|
| 03/22/2011 | BOARD | Approved NPRR323 as recommended by TAC in the 3/3/11 TAC Report | Passed |
| 03/03/2011 | TAC | To recommend approval of NPRR323 as amended by the 3/2/11 ERCOT comments and as revised by TAC with a recommended priority of High and a rank of 12.75. | Passed |
| 02/17/2011 | PRS | To recommend approval of NPRR323 as amended by the 2/17/11 ERCOT comments and to forward NPRR323 to TAC | Passed |
Background
| Status: | Approved |
|---|---|
| Date Posted: | Feb 10, 2011 |
| Sponsor: | Tenaska Power Services |
| Urgent: | Yes |
| Sections: | 4.4.10 |
| Description: | This NPRR revises the language in Section 4.4.10 to match the implemented DAM credit exposure calculations for Three-Part Supply Offers as they relate to combined cycle and to PTP bid calculations currently identified in paragraph (6)(d) of Section 4.4.10; right size the credit exposure calculation for DAM transactions submitted via the use of an energy-only bid curve to equate to the maximum exposure; and right size the credit exposure calculation for DAM PTP bids where a qualified expiring Congestion Revenue Right (CRR) offsets cleared DAM exposure. |
| Reason: | This NPRR revises the over-collateralized requirements related to energy-only bid curves and PTP bids that may have discouraged Market Participants from participating in the DAM. Additionally, qualified expiring CRRs will be recognized has providing a credit exposure offset and may enable QSEs to mitigate congestion price exposure in Real-Time at a reduced credit cost. The changes should reduce default risk related to extreme Real-Time congestion cost by enabling Market Participants to effectively carry CRR hedges expiring in the DAM to Real-Time. |
Key Documents
Feb 10, 2011 - doc - 95.5 KB
Feb 16, 2011 - xls - 46.5 KB
Feb 17, 2011 - doc - 71 KB
Feb 18, 2011 - doc - 106 KB
Feb 28, 2011 - doc - 77 KB
Mar 2, 2011 - doc - 60.5 KB
Mar 2, 2011 - doc - 76.5 KB
Mar 4, 2011 - doc - 115.5 KB
Mar 11, 2011 - doc - 60.5 KB
Mar 10, 2011 - xls - 118.5 KB
Mar 11, 2011 - doc - 39 KB
Mar 15, 2011 - xls - 141.5 KB
Mar 25, 2011 - doc - 118 KB