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VCMRR005

Summary

Title Fuel Index Price for Resource Definition and Real-Time Make-Whole Payments for Exceptional Fuel Cost Events
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Next Step
Status Approved on 12/18/2014
Effective Dates
05/01/2015

Grey-box Section 7 until system implementation of NPRR664

01/01/2015

Section 7

Action

Date Gov Body Action Taken Next Steps
12/18/2014 TAC Approved
11/20/2014 TAC Deferred/Tabled TAC for consideration
10/29/2014 WMS Recommended for Approval TAC for consideration

Voting Record

Date Gov Body Motion Result
12/18/2014 TAC To approve VCMRR005 as recommended by WMS in the 10/29/14 WMS Report and as amended by the 11/14/14 ERCOT comments; with an effective date of January 1, 2015 for the "Verification for Real-Time Make-Whole Payments for Exceptional Fuel Costs" provision and to discontinue the manual workaround of this section on May 1, 2015 (grey-box); and for VCMRR005 to be effective upon system implementation of NPRR664 of which ERCOT will revisit with TAC the rank and priority prior to project initiation. Passed
11/20/2014 TAC To table VCMRR005 for one month. Passed
10/29/2014 WMS To recommend approval of VCMRR005 as submitted. Passed

Background

Status: Approved
Date Posted: Oct 27, 2014
Sponsor: RCWG
Urgent: Yes
Sections: Sections 1, 2, 3, and 7; Appendices 3, 5, 6, 7, 8 and 9.
Description: This Verifiable Cost Manual Revision Request (VCMRR) will modify the Verifiable Cost Manual to incorporate the Fuel Index Price for Resource (FIPRr) and Real-Time Make-Whole Payment for exceptional fuel cost provisions. Resources may designate FIPRr based on the Gas Daily’s Waha index price (Waha Fuel price (WFP)), or the weighted price of the Gas Daily Fuel Index Price (FIP) and the WFP. The default FIPRr shall be the FIP. Resources that designate FIPRr based on WFP or the weighted price must submit documentation to ERCOT indicating such designation and provide proof of physical delivery from such areas, as described in the Verifiable Cost Manual. In addition, this VCMRR modifies the Verifiable Cost Manual to specify the verification requirements for the Real-Time Make-Whole Payment provision.
Reason: Market efficiencies or enhancements Other: Revises the Verifiable Cost Manual to incorporate and provide the appropriate verification for FIPRr and Real-Time Make-Whole Payment for exceptional fuel cost provisions.

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