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PRR681

Summary

Title Discontinuation of Interest Charge for Defaulting Entities at Time of Uplift
Next Group
Next Step
Status Approved on 12/12/2006
Effective Dates
01/01/2007

Action

Date Gov Body Action Taken Next Steps
12/12/2006 BOARD Approved
11/02/2006 TAC Recommended for Approval BOD consideration
10/19/2006 PRS Recommended for Approval TAC consideration
09/21/2006 PRS Recommended for Approval Review of Impact Analysis (and CBA as Appropriate)

Voting Record

Date Gov Body Motion Result
12/12/2006 BOARD To approve as recommended by TAC. Passed
11/02/2006 TAC To recommend approval of PRR681 as recommended by PRS. Passed
10/19/2006 PRS To recommend approval of Recommendation Report and IA Passed
09/21/2006 PRS To recommend approval of PRR681 as submitted. Passed

Background

Status: Approved
Date Posted: Aug 10, 2006
Sponsor: LCRA
Urgent: No
Sections: 9.4.4, 9.4.6
Description: This PRR allows ERCOT to cease the calculation of interest (Late Fees) for defaulting entities when the conditions initiating uplift are met. Late Fee calculations will continue for Short paying entities until uplift conditions are met.
Reason: Currently, the Interest is calculated on any unpaid balance. At 180 days ERCOT must uplift the total short pay amount, excluding late fees. The protocols state that late fees are not uplifted therefore the late fees are continually being compounded. At the time when uplift conditions are met the interest calculation should be discontinued.

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