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NPRR612
Summary
| Title | Reduction of Cure Period Subsequent to Event of Default |
|---|---|
| Next Group | |
| Next Step | |
| Status | Approved on 12/09/2014 |
| Effective Dates |
04/01/2015
|
Action
| Date | Gov Body | Action Taken | Next steps |
|---|---|---|---|
| 12/09/2014 | BOARD | Approved | |
| 10/23/2014 | TAC | Recommended for Approval | Board for consideration |
| 05/29/2014 | TAC | Deferred/Tabled | TAC for consideration |
| 05/15/2014 | PRS | Recommended for Approval | TAC for consideration. |
| 04/10/2014 | PRS | Recommended for Approval | PRS for IA review. |
Voting Record
| Date | Gov Body | Motion | Result |
|---|---|---|---|
| 12/09/2014 | BOARD | To approved NPRR612 as recommended by TAC in the 10/23/14 TAC Report. | Passed |
| 10/23/2014 | TAC | To recommend approval of NPRR612 as amended by the 8/12/14 ERCOT comments with an effective date of April 1, 2015. | Passed |
| 05/29/2014 | TAC | To table NPRR612. | Passed |
| 05/15/2014 | PRS | To endorse and forward the 4/10/14 PRS Report and Impact Analysis for NPRR612 to TAC. | Passed |
| 04/10/2014 | PRS | To recommend approval of NPRR612 as submitted. | Passed |
Background
| Status: | Approved |
|---|---|
| Date Posted: | Mar 26, 2014 |
| Sponsor: | ERCOT |
| Urgent: | No |
| Sections: | 9.11, 9.11.3, 9.13.2.3, 9.19, 16.11.6, 16.11.6.1, 16.11.6.1.1, 16.11.6.1.2, 16.11.6.1.4, 16.11.6.1.6, 16.11.6.2, 16.11.6.2.1, 16.11.6.2.2, 16.11.6.2.3, 16.11.6.2.4, 16.16.1. |
| Description: | This Nodal Protocol Revision Request (NPRR) reduces the cure period for failure to make payment or transfer funds, provide collateral or designate/maintain an association with a Qualified Scheduling Entity (QSE), to one Business Day subsequent to written notification of the breach. In addition, the NPRR clarifies that an Invoice payment from available security will be considered a Late Payment per Protocol Section 16.11.6; it eliminates discrepancies between Protocol and Standard Form Agreement language; and aligns terminology in Protocol Section 16. |
| Reason: | Reducing the cure period allows reduction of the collateral posted by Counter-Parties to cover their risk during the cure period.Also, this NPRR provides clarification of the Late Payment status if past due Invoices are paid from existing collateral and contains clean-up items to ensure Protocol language with respect to Payment Breaches is consistent. |
Key Documents
Mar 26, 2014 - doc - 139.5 KB
Mar 26, 2014 - doc - 55 KB
Apr 15, 2014 - doc - 183.5 KB
Apr 18, 2014 - doc - 39 KB
May 21, 2014 - doc - 195 KB
Jun 3, 2014 - doc - 191.5 KB
Aug 12, 2014 - doc - 330 KB
Aug 27, 2014 - doc - 38.5 KB
Sep 18, 2014 - doc - 38.5 KB
Oct 8, 2014 - doc - 38.5 KB
Oct 27, 2014 - doc - 380 KB
Dec 12, 2014 - doc - 382 KB