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NPRR458
Summary
| Title | Establishment of ERCOT’s Central Counterparty Role |
|---|---|
| Next Group | |
| Next Step | |
| Status | Approved on 07/17/2012 |
| Effective Dates |
01/01/2013
|
Action
| Date | Gov Body | Action Taken | Next steps |
|---|---|---|---|
| 07/17/2012 | BOARD | Approved | |
| 06/28/2012 | TAC | Recommended for Approval | Board consideration |
| 06/21/2012 | PRS | Recommended for Approval | TAC consideration |
| 05/17/2012 | PRS | Recommended for Approval | PRS review IA |
| 04/19/2012 | PRS | Deferred/Tabled | PRS consideration |
Voting Record
| Date | Gov Body | Motion | Result |
|---|---|---|---|
| 07/17/2012 | BOARD | To approve NPRR458 as recommended by TAC in the 6/28/12 TAC Report with an effective date of 1/1/13. | Passed |
| 06/28/2012 | TAC | To recommend approval of NPRR458 as recommended by PRS in the 6/21/12 PRS Report. | Passed |
| 06/21/2012 | PRS | Tto endorse and forward the 5/17/12 PRS Report as amended by the 6/13/12 ERCOT comments and Impact Analysis for NPRR458 to TAC | Passed |
| 05/17/2012 | PRS | To recommend approval of NPRR458 as submitted. | Passed |
| 04/19/2012 | PRS | To table NPRR458 and refer the issue to WMS. | Passed |
Background
| Status: | Approved |
|---|---|
| Date Posted: | Apr 4, 2012 |
| Sponsor: | ERCOT |
| Urgent: | No |
| Sections: | 1.2, 2.1, .4.7.1, 4.4.7.1.1, 4.6.4, 6.5.7.5, 22A, 22B, 22D, 22F, |
| Description: | This Nodal Protocol Revision Request (NPRR) establishes ERCOT as the central counterparty to all transactions in the ERCOT market, except those involving bilateral trades or self-arranged services. The changes introduced by this NPRR do not alter ERCOT’s functions as the Independent System Operator for the ERCOT Region. Rather, the changes are being proposed to establish mutuality between ERCOT and buyers and sellers in the ERCOT markets. The mutuality established by the proposed changes is intended to facilitate ERCOT’s ability to effectuate set-off in bankruptcy proceedings related to a Market Participant default. This, in turn, is intended to mitigate uplift to Market Participants that may result from monies owed to ERCOT that may not otherwise be recovered in such bankruptcy proceedings due to a lack of mutuality. Consistent with the establishment of ERCOT as the central counterparty, the NPRR deletes all references to ERCOT acting "as agent for" or "on behalf of" a Qualified Scheduling Entity (QSE) when it purchases energy or Ancillary Services. |
| Reason: | Making ERCOT the central counterparty to all transactions in its markets enhances ERCOT’s ability, in the event of a Market Participant bankruptcy, to offset the amount of the Market Participant’s debt to ERCOT by any amount ERCOT owes the Market Participant, thereby reducing the amount of the debt that would otherwise be uplifted to the market. |
Key Documents
Apr 4, 2012 - doc - 522.5 KB
Apr 4, 2012 - doc - 54.5 KB
Apr 20, 2012 - doc - 531.5 KB
May 15, 2012 - doc - 62.5 KB
May 21, 2012 - doc - 536 KB
Jun 4, 2012 - doc - 38 KB
Jun 13, 2012 - doc - 528 KB
Jun 22, 2012 - doc - 549 KB
Jun 29, 2012 - doc - 552.5 KB
Jul 13, 2012 - doc - 529 KB
Jul 17, 2012 - doc - 554 KB