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NPRR139

Summary

Title: ACL, EAL, FCE Calculation Updates
Next Group:
Next Step:
Status: Approved on 11/17/2008
Effective Dates:
12/01/2010

or per the Nodal Protocol Transition Plan http://www.ercot.com/mktrules/protocols (12/01/08 Nodal Protocols Library)

Action

Date Gov Body Action Taken Next Steps
08/21/2008 PRS Referred PRS for consideration.
11/17/2008 BOARD Approved
11/06/2008 TAC Recommended for Approval Board consideration
10/23/2008 PRS Recommended for Approval TAC for consideration.
09/24/2008 PRS Recommended for Approval PRS consideration of Impact Analysis

Voting Record

Date Gov Body Motion Result
08/21/2008 PRS To refer NPRR139 to Transition Plan Task Force (TPTF) for consideration. Passed
11/17/2008 BOARD To approve NPRR139 as recommended by TAC. Passed
11/06/2008 TAC To recommend approval of NPRR139 as recommended by PRS. Passed
10/23/2008 PRS To endorse and forward the NPRR139 PRS Recommendation Report and Impact Analysis to TAC. Passed
09/24/2008 PRS To recommend approval of NPRR139 as amended by TPTF comments. 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: Jul 11, 2008
Sponsor: Credit Working Group
Urgent: No
Sections: 16.11.4.3; 16.11.4.5; 16.11.4.6
Description: Congestion Revenue Right’s (CRR’s) future exposure is represented by Future Credit Exposure (FCE) calculations. Including the CRR Invoices in Daily DA Liability Extrapolated (DALE) and Average Daily Transaction Extrapolated (ADTE) calculations result in calculating the future exposure more than once for CRR activity. Hence the CRR activity needs to be excluded from DALE and ADTE calculations. Eliminate the "two day" requirement for prepays. Invoices will be removed from the exposure calculation the day after they are paid. If the Day Ahead Market (DAM) is executed but specific DAM Settlement Point Prices are not available, ERCOT may use the appropriate auction clearing prices instead. 90% was mentioned twice, once in Available Credit Limit (ACL) definition and once in CRR auction credit limit. The intention is to apply 90% to ACL only once. Hence the 90% is removed from the ACL definition.
Reason: Eliminate duplication with FCE component for establishing a forward value for CRR activity. Provide more flexibility for entities to prepay invoices Auction clearing price is as appropriate as the Hub price to replace a missing DAM Settlement Point Price and is more readily available Clarify the intent of the ACL.

Key Documents

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