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NPRR463

Summary

Title: CRR Auction Structure Enhancements
Next Group:
Next Step:
Status: Approved on 06/19/2012
Effective Dates:
04/01/2013

Action

Date Gov Body Action Taken Next Steps
06/19/2012 BOARD Approved
06/07/2012 TAC Recommended for Approval ERCOT Board consideration of NPRR463
05/17/2012 PRS Recommended for Approval TAC consideration of NPRR463

Voting Record

Date Gov Body Motion Result
06/19/2012 BOARD To approve NPRR463 as recommended by TAC in the 6/7/12 TAC Report. Passed
06/07/2012 TAC To recommend approval of NPRR463 as recommended by PRS in the 5/17/12 PRS Report and as amended by the 6/5/12 ERCOT comments and to endorse and forward the Impact Analysis with a recommended priority of 2012 and rank of 685. Passed
05/17/2012 PRS To recommend approval of NPRR463 as revised by PRS and to forward NPRR463 to TAC. 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: May 7, 2012
Sponsor: DC Energy Texas LLC
Urgent: Yes
Sections: 2.1, 7.3, 7.4.2, 7.5.1, 7.5.2, 7.5.2.1, 7.5.2.2, 7.5.2.3, 7.5.3, 7.5.3.2, 7.5.5.3, 7.5.5.4, 7.5.6.3, 7.8, 16.11.4.6.1
Description: This Nodal Protocol Revision Request (NPRR) replaces the annual Congestion Revenue Right (CRR) Auction with a semi-annual sequence of four consecutive six-month CRR Auctions selling CRRs up to two years in the future, scheduled according to a TAC-approved calendar. A proposed initial calendar for TAC consideration will be discussed in parallel to this NPRR.
Reason: The current CRR Auction structure offers only one point in time per year where forward hedging (beyond the next month) can be accomplished, and when those long-term auction events do occur they cause a large concentration of credit requirements for Market Participants and workload for Market Participants and ERCOT Staff. This NPRR would distribute the release of network capacity to be more evenly spread out over time, enabling Market Participants to manage their positions incrementally as they evolve over time.

Key Documents

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