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NPRR484

Summary

Title: Revisions to Congestion Revenue Rights Credit Calculations and Payments
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Status: Approved on 03/19/2013
Effective Dates:
10/21/2013

Sections 7.5.3, 7.5.5.3 (partial), and 16.11.4.5 (partial)

Action

Date Gov Body Action Taken Next Steps
03/19/2013 BOARD Approved
02/07/2013 TAC Recommended for Approval ERCOT Board Consideration
01/17/2013 PRS Recommended for Approval TAC Consideration
12/13/2012 PRS Recommended for Approval PRS for Impact Analysis Review
11/15/2012 PRS Deferred/Tabled PRS consideration
10/18/2012 PRS Recommended for Approval PRS consider the IA

Voting Record

Date Gov Body Motion Result
03/19/2013 BOARD To approve NPRR484 as recommended by TAC in the 2/7/13 TAC Report
02/07/2013 TAC To recommend approval of NPRR484 as recommended by PRS in the 1/17/13 PRS Report with a modified Priority of 2013 and rank of 580. Passed
01/17/2013 PRS To endorse and forward NPRR484 as recommended by PRS in the 12/13/12 PRS Report and as amended by the 1/10/13 ERCOT comments and 1/10/13 Luminant Energy comments; and the preliminary Impact Analysis for NPRR484 to TAC with a recommended priority of 2014 and rank of 895. Passed
12/13/2012 PRS To endorse the 10/18/12 PRS Report for NPRR484 as amended by the 12/12/12 ERCOT comments and to request that NPRR484 return to the January 17, 2013 PRS meeting with a final Impact Analysis. Passed
11/15/2012 PRS To table NPRR484 for one month pending an Impact Analysis and refer associated issues to WMS. Passed
10/18/2012 PRS To recommend approval of NPRR484 as amended by the 10/17/12 ERCOT comments and as revised by PRS.

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: Sep 28, 2012
Sponsor: Luminant Energy Company, LLC
Urgent: No
Sections: 7.5.5.3, 9.9, 9.9.1, 9.9.2, 16.11.4.5
Description: This Nodal Protocol Revision Request (NPRR) replaces the Congestion Revenue Right (CRR) Auction credit calculations with path-specific exposure calculations based on Day-Ahead Market (DAM) clearing prices over a rolling period and revises the Future Credit Exposure (FCE) calculations for CRR Account Holders; which results in a modification to the payment schedule for CRRs.
Reason: The current credit calculations collateralize in a uniform manner and do not recognize that different congestion paths have various levels of risk. This can lead to under-collateralization of the riskiest paths, leaving the market exposed, or significant over-collateralization, therefore increasing the cost of participation for many Market Participants. In addition, this proposal allows Market Participants to post collateral in lieu of pre-paying for forward awarded CRRs.

Key Documents

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