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NPRR800

Summary

Title: Revisions to Credit Exposure Calculations to Use Electricity Futures Market Prices
Next Group:
Next Step:
Status: Approved on 02/14/2017
Effective Dates:
02/07/2018

All sections except for Section 16.11.4.7

Action

Date Gov Body Action Taken Next Steps
02/14/2017 BOARD Approved
01/26/2017 TAC Recommended for Approval Revision Request Consideration
01/19/2017 PRS Recommended for Approval TAC for consideration
09/15/2016 PRS Deferred/Tabled Language Consideration

Voting Record

Date Gov Body Motion Result
02/14/2017 BOARD To approve NPRR800 as recommended by TAC in the 1/26/17 TAC Report. Passed
01/26/2017 TAC To recommend approval of NPRR800 as recommended by PRS in the 1/19/17 PRS Report as amended by the 1/23/17 ERCOT comments. Passed
01/19/2017 PRS To grant NPRR800 Urgent status; to recommend approval of NPRR800 as amended by the 11/16/16 Credit WG comments; and to forward to TAC with a recommended priority of 2017 and rank of 1561 Passed
09/15/2016 PRS To table NPRR800 and refer the issue to the Credit Work Group (Credit WG). 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: Aug 30, 2016
Sponsor: ERCOT
Urgent: Yes
Sections: 16.11.4.1, 16.11.4.3, 16.11.4.3.3, 16.11.4.7
Description: This Nodal Protocol Revision Request (NPRR) revises the Real-Time Liability Extrapolated (RTLE) and Day-Ahead Liability Extrapolated (DALE) factors used in the Counter-Party Estimated Aggregate Liability (EAL) and Minimum Current Exposure (MCE) calculations to use electricity futures mark-to-market prices for estimating forward risk. Forward adjustment factors for Real-Time Market (RTM) exposure and Day-Ahead Market (DAM) exposure are calculated using a ratio of futures average price to historic average price of a reference hub. Limits can be set so that forward adjustment factors would fall in a specified range by using a set of parameters. The parameters could be updated through stakeholder review and approval process.
Reason: Market efficiencies or enhancements; Administrative

Key Documents