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NPRR453

Summary

Title: Separation of Year 1 and Year 2 of the Annual CRR Auctions by Timing
Next Group:
Next Step:
Status: Approved on 06/19/2012
Effective Dates:
07/01/2012

Action

Date Gov Body Action Taken Next Steps
06/19/2012 BOARD Approved
06/07/2012 TAC Recommended for Approval ERCOT Board consideration of NPRR453
05/17/2012 PRS Recommended for Approval TAC consideration of NPRR453
04/19/2012 PRS Recommended for Approval PRS Impact Analysis review

Voting Record

Date Gov Body Motion Result
06/19/2012 BOARD To approve NPRR453 as recommended by TAC in the 6/7/12 TAC Report. Passed
06/07/2012 TAC To recommend approval of NPRR453 as recommended by PRS in the 5/17/12 PRS Report and to grant NPRR453 Urgent status. Passed
05/17/2012 PRS to endorse and forward the 4/19/12 PRS Report and Impact Analysis for NPRR453 to TAC. Passed
04/19/2012 PRS To recommend approval of NPRR453 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.

Background

Status: Approved
Date Posted: Apr 2, 2012
Sponsor: ERCOT
Urgent: Yes
Sections: 7.3, 7.4.2, 7.5.1, 7.5.3
Description: This Nodal Protocol Revision Request (NPRR) outlines the Protocol changes needed to allow ERCOT to execute each year of the two-year annual Congestion Revenue Right (CRR) Auctions in separate bid and credit windows for each year to relieve market credit and improve the ability of ERCOT to efficiently execute and analyze the results. Annual CRR Auction processes and systems are already separated in terms of credit lock, modeling, bidding and auction optimization. These changes simply separate the two annual CRR Auctions to run sequentially during the year, rather than simultaneously, to eliminate overlapping annual credit lock exposure.
Reason: Currently Year 1 and Year 2 of the annual CRR Auctions are run simultaneously. In November 2011, $1.6 billion in credit was locked for Year 1 and Year 2 of the annual CRR Auction and overlapped with the credit lock for the December monthly CRR Auction as well.

Key Documents

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