- Home
- Market Rules
- Issues
NPRR597
Summary
| Title | Utilize Initial Estimated Liability (IEL) Only During Initial Market Activity |
|---|---|
| Next Group | |
| Next Step | |
| Status | Approved on 06/10/2014 |
| Effective Dates |
06/13/2015
|
Action
| Date | Gov Body | Action Taken | Next Steps |
|---|---|---|---|
| 06/10/2014 | BOARD | Approved | |
| 04/24/2014 | TAC | Recommended for Approval | Board for consideration |
| 04/10/2014 | PRS | Recommended for Approval | TAC for consideration |
| 03/18/2014 | PRS | Recommended for Approval | PRS for IA review. |
Voting Record
| Date | Gov Body | Motion | Result |
|---|---|---|---|
| 06/10/2014 | BOARD | To approve NPRR597 as recommended by TAC in the 4/24/14 TAC Report. | Passed |
| 04/24/2014 | TAC | To recommended approval of NPRR597 as recommended by PRS in the 4/10/14 PRS report. | Passed |
| 04/10/2014 | PRS | To endorse and forward the 3/18/14 PRS Report and Impact Analysis for NPRR597 to TAC with a recommended priority of 2014 and rank of 1140. | Passed |
| 03/18/2014 | PRS | To recommend approval of NPRR597 as submitted. | Passed |
Background
| Status: | Approved |
|---|---|
| Date Posted: | Feb 6, 2014 |
| Sponsor: | ERCOT |
| Urgent: | No |
| Sections: | 16.11.4.3 |
| Description: | This Nodal Protocol Revision Request (NPRR) clarifies that the Initial Estimated Liability (IEL) component of the Estimated Aggregate Liability (EAL) calculation is to be used only during the first 40 days of a Counter-Party’s activity in ERCOT markets. |
| Reason: | As expressed in EAL, IEL may be used to determine collateral over an indefinite time. Since IEL is intended to serve as an estimate of market activity before trading records are available, it should not continue to be used after that time. |
Key Documents
Feb 6, 2014 - doc - 107.5 KB
Feb 6, 2014 - doc - 55.5 KB
Mar 21, 2014 - doc - 117 KB
Apr 15, 2014 - doc - 122 KB
Apr 15, 2014 - doc - 39 KB
Apr 29, 2014 - doc - 120.5 KB
Jun 10, 2014 - doc - 121.5 KB