SCR778

    Summary

    Title: Credit Exposure Calculations for NOIE Options Linked to RTM PTP Obligations
    Next Group:
    Next Step:
    Status: Approved on 02/11/2014

    Action

    Date Gov Body Action Taken Next Steps
    02/11/2014 Board of Directors Approved
    01/28/2014 TAC Recommended for Approval Board for consideration
    01/16/2014 PRS Recommended for Approval TAC for consideration
    12/19/2013 PRS Recommended for Approval PRS for IA review

    Voting Record

    Date Gov Body Motion Result
    02/11/2014 Board of Directors To approve SCR778 as recommended by TAC in the 1/28/14 TAC Report. Passed
    01/28/2014 TAC To recommend approval of SCR778 as recommended by PRS in the 1/16/14 PRS Report Passed
    01/16/2014 PRS To endorse and forward the 12/19/13 PRS report and Impact Analysis for SCR778 to TAC with a recommended priority of 2014 and a rank of 1120. Passed
    12/19/2013 PRS To recommend approval of SCR778 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: 11/15/2013
    Sponsor: ERCOT
    Urgent: No
    Sections: 16.11.4.3
    Description: Changes to the Credit Monitoring and Management (CMM) System. 1. Modifies the Real-Time Liability (RTL) calculation to reduce credit exposure to an estimated amount based on calculations defined in paragraph (1) of Protocol Section 7.9.2.1, Payments and Charges for PTP Obligations Settled in Real-Time. 2. Modifies the Outstanding Unpaid Transactions (OUT) calculation to include credit exposure to an estimated amount based on calculations defined in paragraphs (3) and (4) of Protocol Section 4.6.3, Settlement for PTP Obligations Bought in DAM.
    Reason: To more closely align calculated credit exposure with Real-Time Market (RTM) Settlement risk and with the intent of existing Protocol language.

    Key Documents