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NPRR047

Summary

Title: Credit Monitoring -- ERCOT Staff Clarifications
Next Group:
Next Step:
Status: Approved on 07/17/2007
Effective Dates:
12/01/2010

or per the Nodal Protocol Transition Plan http://www.ercot.com/mktrules/protocols (08/01/07 Nodal Protocols Library)

Action

Date Gov Body Action Taken Next Steps
07/17/2007 BOARD Approved
06/28/2007 TAC Recommended for Approval Board consideration of this NPRR and its IA
06/12/2007 PRS Recommended for Approval Review of B1G2 Impact Analysis
04/20/2007 PRS Recommended for Approval Impact Analysis review
03/22/2007 PRS Remanded

Voting Record

Date Gov Body Motion Result
07/17/2007 BOARD To approve this NPRR as recommended by TAC. Passed
06/28/2007 TAC To recommend approval of this NPRR and its IA as recommended by PRS. Passed
06/12/2007 PRS To recommend approval of B1G2 Impact Analysis Passed
04/20/2007 PRS To recommend approval as amended by TPTF comments. Passed
03/22/2007 PRS Remand NPRR047. Passed

Vote tallies here reflect individual votes, not the weight of the votes by market segment. Affirmative votes are not recorded in these vote tallies. For additional details on the voting record, please consult the Recommendation or Action Report, or the official vote tally if available, as posted in the key documents.

Background

Status: Approved
Date Posted: Mar 2, 2007
Sponsor: TPTF
Urgent: No
Sections: 2.1, 4.4.10, 7.5.5.3, 9.9.1, 16.11, 16.11.4.3, 16.11.4.4, 16.11.4.5, 16.11.4.6, 16.11.4.7, 16.11.6, 16.11.7, 16.11.8
Description: This NPRR incorporates the following topics: 1. Moving definition of Counter-Party from Section 16, Registration and Qualification of MPs, to Section 2, Definitions and Acronyms. 2. Validation and enforcement of credit constraints at the Counter-Party level in the DAM and CRR Auctions. 3. Provision of separate credit limit for DAM and CRR Auctions. 4. Clarification on calculating credit exposure and Available Credit Limit on Business Days. 5. Clarification on the language regarding Today’s Value of PTP Obligation, PTP Option and Flow Gate Rights. 6. Clarification on the terminology for pricing components of Mark to Market Value for Flow Gate Rights 7. Clarification on the flexibility to modify weighting factors associated with pricing components of Mark to Market Value for PTP Obligation, PTP Option and Flow Gate Rights. 8. Tracking Payment Breach, Late Payment by Market Participants instead of by Counter-Party. 9. Moving and clarifying language about forfeiture of CRRs from Section 9.9.1 to a new sub-section on "Declaration of forfeit of CRRs" in the Payment Breach section.
Reason: Topics 1-7 above address issues identified during the Business Requirement gathering process for the Credit Monitoring & Management system. The issues were presented to TPTF and ERCOT and were approved to be included in the requirements document. Item 8 conforms Nodal Protocols to Zonal language and Item 9 addresses an issue that came up at TPTF related to the CRR Business Requirements.

Key Documents

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