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NPRR554

Summary

Title Clarification of Future Credit Exposure Calculation
Next Group
Next Step
Status Approved on 09/17/2013
Effective Dates
10/21/2013

Action

Date Gov Body Action Taken Next Steps
09/17/2013 BOARD Approved
09/05/2013 TAC Recommended for Approval ERCOT Board for consideration
07/18/2013 PRS Recommended for Approval TAC for consideration

Voting Record

Date Gov Body Motion Result
09/17/2013 BOARD To approved NPRR554 as recommended by TAC in the 9/5/13 TAC Report. Passed
09/05/2013 TAC To recommend approval of NPRR554 as recommended by PRS in the 7/18/13 PRS Report, as amended by the 7/29/13 Luminant comments and as revised by TAC. Passed
07/18/2013 PRS To grant Urgent status to NPRR554 and recommend approval of NPRR554 as submitted. Passed

Background

Status: Approved
Date Posted: Jul 3, 2013
Sponsor: ERCOT
Urgent: Yes
Sections: 16.11.4.5
Description: This Nodal Protocol Revision Request (NPRR) clarifies certain language in Section 16.11.4.5, Determination of the Counter-Party Future Credit Exposure, that was introduced by NPRR484. In particular, this NPRR proposes (1) revisions to the Future Credit Exposure (FCE) calculation to explicitly recognize deferred Invoice-related exposure separate from mark-to-market exposure; (2) modification of certain variables and subscripts that would otherwise appear to require calculation of certain portfolio-level values based on path-specific inputs; and (3) various administrative revisions. These changes are intended to be consistent with, and in furtherance of, the purposes of NPRR 484.
Reason: To ensure that FCE calculations are performed in accordance with the original intent of NPRR484.

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