MIS LOG IN

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

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: 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

Related Content