Issues

NPRR047

Summary
Action
Voting Record
Background
Key Documents

Summary

Title	Credit Monitoring -- ERCOT Staff Clarifications
Next Group
Next Step
Status	Approved on 07/17/2007
Effective Dates	12/01/2010 or per the Nodal Protocol Transition Plan http://www.ercot.com/mktrules/protocols (08/01/07 Nodal Protocols Library)

Action

Date	Gov Body	Action Taken	Next Steps
07/17/2007	BOARD	Approved
06/28/2007	TAC	Recommended for Approval	Board consideration of this NPRR and its IA
06/12/2007	PRS	Recommended for Approval	Review of B1G2 Impact Analysis
04/20/2007	PRS	Recommended for Approval	Impact Analysis review
03/22/2007	PRS	Remanded

Date

Gov Body

Action Taken

Next Steps

07/17/2007

BOARD

Approved

06/28/2007

TAC

Recommended for Approval

Board consideration of this NPRR and its IA

06/12/2007

PRS

Recommended for Approval

Review of B1G2 Impact Analysis

04/20/2007

PRS

Recommended for Approval

Impact Analysis review

03/22/2007

PRS

Remanded

Voting Record

Date	Gov Body	Motion	Result
07/17/2007	BOARD	To approve this NPRR as recommended by TAC.	Passed
06/28/2007	TAC	To recommend approval of this NPRR and its IA as recommended by PRS.	Passed
06/12/2007	PRS	To recommend approval of B1G2 Impact Analysis	Passed
04/20/2007	PRS	To recommend approval as amended by TPTF comments.	Passed
03/22/2007	PRS	Remand NPRR047.	Passed

Date

Gov Body

Motion

Result

07/17/2007

BOARD

To approve this NPRR as recommended by TAC.

Passed

06/28/2007

TAC

To recommend approval of this NPRR and its IA as recommended by PRS.

Passed

06/12/2007

PRS

To recommend approval of B1G2 Impact Analysis

Passed

04/20/2007

PRS

To recommend approval as amended by TPTF comments.

Passed

03/22/2007

PRS

Remand NPRR047.

Passed

Background

Status:	Approved
Date Posted:	Mar 2, 2007
Sponsor:	TPTF
Urgent:	No
Sections:	2.1, 4.4.10, 7.5.5.3, 9.9.1, 16.11, 16.11.4.3, 16.11.4.4, 16.11.4.5, 16.11.4.6, 16.11.4.7, 16.11.6, 16.11.7, 16.11.8
Description:	This NPRR incorporates the following topics: 1. Moving definition of Counter-Party from Section 16, Registration and Qualification of MPs, to Section 2, Definitions and Acronyms. 2. Validation and enforcement of credit constraints at the Counter-Party level in the DAM and CRR Auctions. 3. Provision of separate credit limit for DAM and CRR Auctions. 4. Clarification on calculating credit exposure and Available Credit Limit on Business Days. 5. Clarification on the language regarding Today’s Value of PTP Obligation, PTP Option and Flow Gate Rights. 6. Clarification on the terminology for pricing components of Mark to Market Value for Flow Gate Rights 7. Clarification on the flexibility to modify weighting factors associated with pricing components of Mark to Market Value for PTP Obligation, PTP Option and Flow Gate Rights. 8. Tracking Payment Breach, Late Payment by Market Participants instead of by Counter-Party. 9. Moving and clarifying language about forfeiture of CRRs from Section 9.9.1 to a new sub-section on "Declaration of forfeit of CRRs" in the Payment Breach section.
Reason:	Topics 1-7 above address issues identified during the Business Requirement gathering process for the Credit Monitoring & Management system. The issues were presented to TPTF and ERCOT and were approved to be included in the requirements document. Item 8 conforms Nodal Protocols to Zonal language and Item 9 addresses an issue that came up at TPTF related to the CRR Business Requirements.