PRR677

Title:	Substitute Source For Fuel Index Price (FIP)
Next Group:
Next Step:
Status:	Approved on 12/12/2006
Effective Date:	01/01/2007

Date	Gov Body		Next Steps
12/12/2006	Board of Directors	Approved
11/02/2006	TAC	Recommended for Approval
10/19/2006	PRS	Recommended for Approval
09/21/2006	PRS	Recommended for Approval	Impact Analysis Review
09/21/2006	PRS		Initial Language Review

Date	Gov Body	Motion	Result
12/12/2006	Board of Directors	Approve PRR677 as recommended by TAC.	Passed
11/02/2006	TAC	Recommend approval of PRR677 as recommended by the PRS	Passed
10/19/2006	PRS	Recommend approval of the Recommendation Report and the IA	Passed
09/21/2006	PRS	Recommend approval of PRR677 as submitted	Passed

Status:	Approved
Date Posted:	07/26/2006
Sponsor:	Transition Plan Task Force (TPTF)
Urgent:	No
Sections:	2
Description:	This PRR establishes that, in the event the periodical noted fails to publish a daily FIP, the ERCOT Board of Directors will direct ERCOT Settlements on the use of an alternative index.
Reason:	In the Transition Plan Task Force’s (TPTF’s) discussions of the Nodal Protocols containing reference to the FIP, a question arose about whether it was acceptable for ERCOT to continue using an obsolete or non-existent price index and its last value posted. Consensus developed that rather than leaving it to the Protocol revision process to establish a new published price index the Protocols should call for the Board of Directors to direct ERCOT Settlements to use an alternate price source. The TPTF feels that it is best to establish this revision in the Zonal Protocols and the synchronization to the Nodal Protocols can be done in a timely manner.