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NPRR597

Summary

Title: Utilize Initial Estimated Liability (IEL) Only During Initial Market Activity
Next Group:
Next Step:
Status: Approved on 06/10/2014
Effective Dates:
06/13/2015

Action

Date Gov Body Action Taken Next Steps
06/10/2014 BOARD Approved
04/24/2014 TAC Recommended for Approval Board for consideration
04/10/2014 PRS Recommended for Approval TAC for consideration
03/18/2014 PRS Recommended for Approval PRS for IA review.

Voting Record

Date Gov Body Motion Result
06/10/2014 BOARD To approve NPRR597 as recommended by TAC in the 4/24/14 TAC Report. Passed
04/24/2014 TAC To recommended approval of NPRR597 as recommended by PRS in the 4/10/14 PRS report. Passed
04/10/2014 PRS To endorse and forward the 3/18/14 PRS Report and Impact Analysis for NPRR597 to TAC with a recommended priority of 2014 and rank of 1140. Passed
03/18/2014 PRS To recommend approval of NPRR597 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: Feb 6, 2014
Sponsor: ERCOT
Urgent: No
Sections: 16.11.4.3
Description: This Nodal Protocol Revision Request (NPRR) clarifies that the Initial Estimated Liability (IEL) component of the Estimated Aggregate Liability (EAL) calculation is to be used only during the first 40 days of a Counter-Party’s activity in ERCOT markets.
Reason: As expressed in EAL, IEL may be used to determine collateral over an indefinite time. Since IEL is intended to serve as an estimate of market activity before trading records are available, it should not continue to be used after that time.

Key Documents

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