To recommend approval of NPRR139 as amended by TPTF comments.
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Jul 11, 2008
Credit Working Group
220.127.116.11; 18.104.22.168; 22.214.171.124
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.
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.