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NPRR347
Summary
| Title | Single Daily Settlement Invoice and Updates to Credit Calculations, including addition of a Minimum Collateral Exposure Component (formerly "Counter-Party Invoice and Single Daily Settlement Invoice") |
|---|---|
| Next Group | |
| Next Step | |
| Status | Approved on 08/16/2011 |
| Effective Dates |
11/09/2012
|
Action
| Date | Gov Body | Action Taken | Next steps |
|---|---|---|---|
| 08/16/2011 | BODNOM | Approved | |
| 08/04/2011 | TAC | Recommended for Approval | Board consideration |
| 07/21/2011 | PRS | Recommended for Approval | TAC consideration |
| 06/23/2011 | PRS | Deferred/Tabled | PRS consideration |
| 05/19/2011 | PRS | Deferred/Tabled | Consider the language |
| 04/21/2011 | PRS | Recommended for Approval | PRS consider the IA. |
Voting Record
| Date | Gov Body | Motion | Result |
|---|---|---|---|
| 08/16/2011 | BODNOM | To approve NPRR347 as recommended by TAC in the 8/4/11 TAC Report. | Passed |
| 08/04/2011 | TAC | To recommend approval of NPRR347 as recommended by PRS in the 7/21/11 PRS Report as amended by the 8/3/11 ERCOT comments, the revised Impact Analysis and revised Cost Benefit Analysis with a recommended priority of Critical and a rank of 9.44. | Passed |
| 07/21/2011 | PRS | To recommend approval of NPRR347 as amended by the 7/13/11 ERCOT comments with a recommended priority of Critical, to grant NPRR347 Urgent status, and to forward NPRR347 to TAC. | Passed |
| 06/23/2011 | PRS | To table NPRR347 for one month | Passed |
| 05/19/2011 | PRS | To table NPRR347 for one month. | Passed |
| 04/21/2011 | PRS | To recommend approval of NPRR347 as amended by the 4/18/11 SEWG comments and as revised by PRS | Passed |
Background
| Status: | Approved |
|---|---|
| Date Posted: | Apr 6, 2011 |
| Sponsor: | ERCOT |
| Urgent: | Yes |
| Sections: | 2.1, 9.1.2, 9.3, 9.4, 9.4.1, 9.4.2, 9.4.4, 9.4.5, 9.5.6, 9.6, 9.7, 9.7.1, 9.7.2, 9.7.4, 9.8, 9.10, 9.12, 9.13, 9.14.2, 9.19, 9.19.1, 9.19.2.2, 16.11.4.1, 16.11.4.3, 16.11.4.4, 16.11.4.7 |
| Description: | This Nodal Protocol Revision Request (NPRR) proposes invoicing activity at the Counter-Party level based on the net amount of each Counter-Party’s Qualified Scheduling Entitie’s (QSE’s) and Congestion Revenue Right (CRR) Account Holder’s charges and credits. This NPRR also combines the Day-Ahead Market (DAM) and the Real-Time Market (RTM) Invoices into a single daily Settlement Invoice for these activities. The Settlement Invoice posting on a Business Day includes Operating Days for which a DAM Statement or RTM Statement is posting on the same Business Day. The Settlement Invoice due date is three Bank Business Days after the Settlement Invoice posts. To align with the concept of a single daily Settlement Invoice, this NPRR also requires: (a) adaptation of the language for partial payments and late fees; (b) adaptation of the language for the Default Uplift Invoice; (c) changes to related credit formulas; and (d) automation of the minimum collateral calculation given an increase in the frequency of the calculation. Also, since with this change, Real-Time Settlement Statements will generally be invoiced between three to ten days sooner, this NPRR also proposes reducing the average daily transaction extrapolated multiplier from 40 days to 35 days based on the median reduction in exposure of approximately five days |
| Reason: | This NPRR reduces the timeframe for cash clearing for an Operating Day and correspondingly reduces required collateral; it also provides efficiencies in the invoicing and payment processes for Market Participants that participate in multiple markets and/or have multiple QSEs and/or CRR Account Holders. Counter-Parties that have only one Entity (either one QSE or CRR Account Holder) and/or participate in only one market may see no reduction or an increase in transaction volume. |
Key Documents
Apr 7, 2011 - doc - 222 KB
Apr 6, 2011 - doc - 62.5 KB
Apr 18, 2011 - doc - 236 KB
Apr 26, 2011 - doc - 233.5 KB
May 3, 2011 - doc - 403 KB
May 5, 2011 - doc - 38 KB
May 18, 2011 - doc - 63.5 KB
May 24, 2011 - doc - 238 KB
Jun 3, 2011 - doc - 408 KB
Jun 15, 2011 - doc - 421 KB
Jun 15, 2011 - doc - 416.5 KB
Jun 22, 2011 - doc - 466.5 KB
Jun 30, 2011 - doc - 292.5 KB
Jul 11, 2011 - doc - 445.5 KB
Jul 13, 2011 - doc - 447 KB
Jul 18, 2011 - doc - 439 KB
Jul 27, 2011 - doc - 550.5 KB
Jul 28, 2011 - doc - 495.5 KB
Aug 3, 2011 - doc - 497 KB
Aug 3, 2011 - doc - 66 KB
Aug 4, 2011 - xls - 184.5 KB
Aug 5, 2011 - doc - 564 KB
Aug 16, 2011 - doc - 564.5 KB