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NPRR673

Summary

Title Correction to Estimated Aggregate Liability (EAL) for a QSE that Represents Neither Load nor Generation
Next Group
Next Step
Status Approved on 04/14/2015
Effective Dates
05/01/2015

Action

Date Gov Body Action Taken Next Steps
04/14/2015 BOARD Approved
03/26/2015 TAC Recommended for Approval ERCOT Board for consideration
03/12/2015 PRS Recommended for Approval TAC for consideration
02/12/2015 PRS Recommended for Approval PRS for Impact Analysis review
12/11/2014 PRS Deferred/Tabled PRS for consideration

Voting Record

Date Gov Body Motion Result
04/14/2015 BOARD To approve NPRR673 as recommended by TAC in the 3/26/15 TAC Report Passed
03/26/2015 TAC To recommend approval of NPRR673 as recommended by PRS in the 3/12/15 PRS Report Passed
03/12/2015 PRS To endorse and forward to TAC the 2/12/15 PRS Report and Impact Analysis for NPRR673 Passed
02/12/2015 PRS To recommend approval of NPRR673 as submitted Passed
12/11/2014 PRS To table NPRR673 and refer the issue to the Credit Work Group Passed

Background

Status: Approved
Date Posted: Nov 26, 2014
Sponsor: ERCOT
Urgent: No
Sections: 16.11.4.2 and 16.11.4.3
Description: This Nodal Protocol Revision Request (NPRR) corrects Protocol language introduced by NPRR620, Collateral Requirements for Counter-Parties with No Load or Generation, relating to Qualified Scheduling Entities (QSEs) representing neither Load nor Generation.
Reason: As written in NPRR620, the Initial Estimated Liability (IEL) was defined as a fixed value, and the period for calculation of the IEL was not limited. While this eliminated the problem of certain circumstances where no collateral was required, it also meant that affected Counter-Parties would not receive credit for long positions (to the extent of the Minimum Current Exposure (MCE)), which was not the intent of NPRR620. This NPRR’s correction ensures that affected Counter-Parties can receive credit for long positions while maintaining the MCE.

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