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NPRR800

Summary

Title Revisions to Credit Exposure Calculations to Use Electricity Futures Market Prices
Next Group
Next Step
Status Approved on 02/14/2017
Effective Dates
02/07/2018

All sections except for Section 16.11.4.7

Action

Date Gov Body Action Taken Next Steps
02/14/2017 BOARD Approved
01/26/2017 TAC Recommended for Approval Revision Request Consideration
01/19/2017 PRS Recommended for Approval TAC for consideration
09/15/2016 PRS Deferred/Tabled Language Consideration

Voting Record

Date Gov Body Motion Result
02/14/2017 BOARD To approve NPRR800 as recommended by TAC in the 1/26/17 TAC Report. Passed
01/26/2017 TAC To recommend approval of NPRR800 as recommended by PRS in the 1/19/17 PRS Report as amended by the 1/23/17 ERCOT comments. Passed
01/19/2017 PRS To grant NPRR800 Urgent status; to recommend approval of NPRR800 as amended by the 11/16/16 Credit WG comments; and to forward to TAC with a recommended priority of 2017 and rank of 1561 Passed
09/15/2016 PRS To table NPRR800 and refer the issue to the Credit Work Group (Credit WG). Passed

Background

Status: Approved
Date Posted: Aug 30, 2016
Sponsor: ERCOT
Urgent: Yes
Sections: 16.11.4.1, 16.11.4.3, 16.11.4.3.3, 16.11.4.7
Description: This Nodal Protocol Revision Request (NPRR) revises the Real-Time Liability Extrapolated (RTLE) and Day-Ahead Liability Extrapolated (DALE) factors used in the Counter-Party Estimated Aggregate Liability (EAL) and Minimum Current Exposure (MCE) calculations to use electricity futures mark-to-market prices for estimating forward risk. Forward adjustment factors for Real-Time Market (RTM) exposure and Day-Ahead Market (DAM) exposure are calculated using a ratio of futures average price to historic average price of a reference hub. Limits can be set so that forward adjustment factors would fall in a specified range by using a set of parameters. The parameters could be updated through stakeholder review and approval process.
Reason: Market efficiencies or enhancements; Administrative

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