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.
Jul 14, 2008
184.108.40.206, Determination of the Counter-Party Future Credit Exposure
Revises the margin adder for Point-to-Point (PTP) Obligations to a value "X" to be determined by the subcommittee process.
Current margin adder is excessive given the level of risk provided by the market and is well in excess of margin requirements of other markets. For instance, a Congestion Revenue Right (CRR) that is purchased for $0.10/MW will be margined $10.00 in ERCOT ($87,600 annually). That comparable CRR would be margined approximately $0.23 in the New York Independent System Operator (NYISO) market and even less in the Midwest Independent System Operator (MISO) market.