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NPRR1023

Summary

Title Change to CRR Repossession Process
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Next Step
Status Approved on 04/13/2021

Action

Date Gov Body Action Taken Next Steps
04/13/2021 BOARD Approved
03/24/2021 TAC Recommended for Approval Revision Request Consideration
03/11/2021 PRS Recommended for Approval Revision Request Consideration
02/11/2021 PRS Recommended for Approval Impact Analysis Consideration
06/11/2020 PRS Deferred/Tabled Language Consideration

Voting Record

Date Gov Body Motion Result
04/13/2021 BOARD to approve NPRR1023 as recommended by TAC in the 3/24/21 TAC Report Passed
03/24/2021 TAC to recommend approval of NPRR1023 as recommended by PRS in the 3/11/21 PRS Report Passed
03/11/2021 PRS to endorse and forward to TAC the 2/11/21 PRS Report and Revised Impact Analysis for NPRR1023 with a recommended priority of 2022 and rank of 3500 Passed
02/11/2021 PRS to recommend approval of NPRR1023 as amended by the 1/25/21 ERCOT comments Passed
06/11/2020 PRS to table NPRR1023 and refer the issue to WMS Passed

Background

Status: Approved
Date Posted: May 22, 2020
Sponsor: ERCOT
Urgent: No
Sections: 7.5.3.1, 7.5.5.3, 16.11.6.1.4, 16.11.6.1.5, 16.11.6.1.6, 16.11.6.1.7 (new), 16.11.7
Description: This Nodal Protocol Revision Request (NPRR) modifies the way that ERCOT handles the repossession of a Congestion Revenue Right (CRR) portfolio resulting from a Market Participant default. The current process of offering the repossessed CRRs in a one-time auction may not fully realize the potential value of the repossessed CRR portfolio, which can in turn result in increased uplift to the market. This NPRR establishes a means for liquidating a repossessed CRR portfolio over time by utilizing the Financial Security held by ERCOT for the Defaulting CRR Account Holder for Settlement purposes. This NPRR also modifies the process for forfeiture of CRRs resulting from non-payment or late payment of an Invoice by a CRR Account Holder, and proposes liquidating forfeited CRRs in the same manner as repossessed CRRs.
Reason: Market efficiencies or enhancements

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