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NPRR554

Summary

Title: Clarification of Future Credit Exposure Calculation
Next Group:
Next Step:
Status: Approved on 09/17/2013
Effective Dates:
10/21/2013

Action

Date Gov Body Action Taken Next Steps
09/17/2013 BOARD Approved
09/05/2013 TAC Recommended for Approval ERCOT Board for consideration
07/18/2013 PRS Recommended for Approval TAC for consideration

Voting Record

Date Gov Body Motion Result
09/17/2013 BOARD To approved NPRR554 as recommended by TAC in the 9/5/13 TAC Report. Passed
09/05/2013 TAC To recommend approval of NPRR554 as recommended by PRS in the 7/18/13 PRS Report, as amended by the 7/29/13 Luminant comments and as revised by TAC. Passed
07/18/2013 PRS To grant Urgent status to NPRR554 and recommend approval of NPRR554 as submitted. 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: Jul 3, 2013
Sponsor: ERCOT
Urgent: Yes
Sections: 16.11.4.5
Description: This Nodal Protocol Revision Request (NPRR) clarifies certain language in Section 16.11.4.5, Determination of the Counter-Party Future Credit Exposure, that was introduced by NPRR484. In particular, this NPRR proposes (1) revisions to the Future Credit Exposure (FCE) calculation to explicitly recognize deferred Invoice-related exposure separate from mark-to-market exposure; (2) modification of certain variables and subscripts that would otherwise appear to require calculation of certain portfolio-level values based on path-specific inputs; and (3) various administrative revisions. These changes are intended to be consistent with, and in furtherance of, the purposes of NPRR 484.
Reason: To ensure that FCE calculations are performed in accordance with the original intent of NPRR484.

Key Documents

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