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:


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

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.


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,,,,,
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

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