NPRR392

    Summary

    Title: Credit Review During CRR Auction
    Next Group:
    Next Step:
    Status: Approved on 08/16/2011
    Effective Date: 09/01/2011

    Action

    Date Gov Body Action Taken Next Steps
    08/16/2011 Board of Directors Approved
    08/04/2011 TAC Recommended for Approval ERCOT Board consideration
    07/21/2011 PRS Recommended for Approval TAC consideration

    Voting Record

    Date Gov Body Motion Result
    08/16/2011 Board of Directors To approve NPRR392 as recommended by TAC in the 8/4/11 TAC Report Passed
    08/04/2011 TAC To recommend approval of NPRR392 as recommended by PRS in the 7/21/11 PRS Report. Passed
    07/21/2011 PRS To recommend approval of NPRR392 as revised by PRS and to forward NPRR392 to TAC 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: 07/14/2011
    Sponsor: ERCOT
    Urgent: Yes
    Sections: 7.5.5.3
    Description: This Nodal Protocol Revision Request (NPRR) provides for a credit review on preliminary CRR Auction results before CRR Auction results are finalized and posted to ensure that post auction collateral requirements under Section 16, Registration and Qualification of Market Participants, for the proposed CRR awards are within a Counter-Party’s Available Credit Limit (ACL). If a Counter-Party does not have or provide the required Financial Security, this NPRR provides for voiding that Entity’s bids and offers and rerunning the CRR Auction without that Entity’s bids and offers.
    Reason: To seek to ensure that CRRs awarded in an auction will be adequately collateralized immediately following the auction.

    Key Documents