Issues

NPRR357

Summary
Action
Voting Record
Background
Key Documents

Summary

Title	Revisions to Collateral Requirements Concerning CRR Auctions (formerly "Multi-Month CRR Auction and Revisions to Collateral Requirements")
Next Group
Next Step
Status	Approved on 08/16/2011
Effective Dates	09/13/2012

Action

Date	Gov Body	Action Taken	Next Steps
08/16/2011	BOARD	Approved
08/04/2011	TAC	Recommended for Approval	ERCOT Board consideration
07/21/2011	PRS	Recommended for Approval	TAC consideration
06/23/2011	PRS	Recommended for Approval	PRS language consideration
05/19/2011	PRS	Deferred/Tabled	PRS consideration

Date

Gov Body

Action Taken

Next Steps

08/16/2011

BOARD

Approved

08/04/2011

TAC

Recommended for Approval

ERCOT Board consideration

07/21/2011

PRS

Recommended for Approval

TAC consideration

06/23/2011

PRS

Recommended for Approval

PRS language consideration

05/19/2011

PRS

Deferred/Tabled

PRS consideration

Voting Record

Date	Gov Body	Motion	Result
08/16/2011	BOARD	To approve NPRR357 as recommended by TAC in the 8/4/11 TAC Report.	Passed
08/04/2011	TAC	To recommend approval of NPRR357 as amended by the 8/4/11 ERCOT comments with a recommended priority of High and a rank of 20.5.	Passed
07/21/2011	PRS	To grant NPRR357 Urgent status; recommend approval of NPRR357 as amended by the 7/18/11 ERCOT comments and as revised by PRS; and forward NPRR357 to TAC.	Passed
06/23/2011	PRS	To table NPRR357 and request that ERCOT host a workshop to further discuss NPRR357.	Passed
05/19/2011	PRS	To table NPRR357.	Passed

Date

Gov Body

Motion

Result

08/16/2011

BOARD

To approve NPRR357 as recommended by TAC in the 8/4/11 TAC Report.

Passed

08/04/2011

TAC

To recommend approval of NPRR357 as amended by the 8/4/11 ERCOT comments with a recommended priority of High and a rank of 20.5.

Passed

07/21/2011

PRS

To grant NPRR357 Urgent status; recommend approval of NPRR357 as amended by the 7/18/11 ERCOT comments and as revised by PRS; and forward NPRR357 to TAC.

Passed

06/23/2011

PRS

To table NPRR357 and request that ERCOT host a workshop to further discuss NPRR357.

Passed

05/19/2011

PRS

To table NPRR357.

Passed

Background

Status:	Approved
Date Posted:	May 4, 2011
Sponsor:	Luminant
Urgent:	Yes
Sections:	7.5, 7.5.1, 7.5.2, 7.5.5.3, 7.5.6, 7.5.6.1, 7.5.6.2, 7.5.6.3, 9.8, 16.11.4.5,
Description:	The Nodal Protocol Revision Request (NPRR) proposes revisions to collateral requirements for Congestion Revenue Right (CRR) Auctions including a pre-CRR Auction screening process to determine the maximum potential exposure of each CRR Account Holder and a path-specific adder to be defined by an ERCOT Board-approved methodology.
Reason:	This NPRR addresses operational, risk-management and collateral concerns around the annual CRR Auction. This NPRR is designed for organized market liquidity, which creates visibility and hedging opportunities. At the same time, this NPRR seeks to right-size credit risk in the pre-auction engine and Future Credit Exposure (FCE) calculations. By allowing for more accurate cash management and more liquidity of CRRs, Market Participants can better manage their CRR activities.