NPRR #140 · Revision Request
NPRR140 Revision to CRR Obligation Margin Adder
ReasonCurrent margin adder is excessive given the level of risk provided by the market and is well in excess of margin requirements of other markets. For instance, a Congestion Revenue Right (CRR) that is purchased for $0.10/MW will be margined $10.00 in ERCOT ($87,600 annually). That comparable CRR would be margined approximately $0.23 in the New York Independent System Operator (NYISO) market and even less in the Midwest Independent System Operator (MISO) market.
Created2008-08-21
Approved2009-01-20
Sections Affected
16.11.4.5Determination of the Counter-Party Future Credit Exposure
Summary
Revises the margin adder for Point-to-Point (PTP) Obligations to a value "X" to be determined by the subcommittee process.
Action Log 6 milestones
-
Jan 20
BOARDApproved
-
Aug 21
PRSReferred→ PRS language consideration
-
Jan 8
TACRecommended for Approval→ Board consideration
-
Nov 20
PRSRecommended for Approval→ PRS consider the Recommendation Report and IA
-
Dec 18
PRSRecommended for Approval→ TAC consideration
-
Oct 23
PRSDeferred/Tabled→ PRS consideration
Amendments
| Date | Body | Motion | Result |
|---|---|---|---|
| Nov 20 '08 | PRS | To recommend approval of NPRR140 as amended by ERCOT comments submitted on 11/19/08 and as revised by PRS. | Passed |
Documents 16
| Name | Type | Posted | Classification |
|---|---|---|---|
| 140NPRR-01 Revision to CRR Obligation Margin Adder 071408 | doc | Jul 14 '08 | Revision Request |
| 140NPRR-02 LCRA Comments 081108 | doc | Aug 11 '08 | Revision Request Comments |
| 140NPRR-03 PRS Action Report 082108 | doc | Oct 24 '08 | Committee Report |
| 140NPRR-04 ERCOT Comments 091908 | doc | Sep 19 '08 | Revision Request Comments |
| 140NPRR-05 TPTF Comments 092308 | doc | Sep 25 '08 | Revision Request Comments |
| 140NPRR-06 Voting Ballot 092308 | xls | Feb 6 '09 | Revision Request Ballot |
| 140NPRR-07 WMS Comments 102308 | doc | Oct 23 '08 | Revision Request Comments |
| 140NPRR-08 PRS Action Report102308 | doc | Oct 28 '08 | Committee Report |
| 140NPRR-09 J Aron Comments 111208 | doc | Nov 12 '08 | Revision Request Comments |
| 140NPRR-10 ERCOT Comments 111908 | doc | Nov 19 '08 | Revision Request Comments |
| 140NPRR-11 PRS Recommendation Report 112008 | doc | Jan 7 '09 | Committee Report |
| 140NPRR-12 Impact Analysis 120808 | doc | Dec 8 '08 | Staff Report |
| 140NPRR-13 PRS Recommendation Report 121808 | doc | Jan 7 '09 | Committee Report |
| 140NPRR-14 Credit WG Comments 010809 | doc | Jan 8 '09 | Revision Request Comments |
| 140NPRR-15 TAC Recommendation Report 010809 | doc | Jan 9 '09 | Committee Report |
| 140NPRR-16 Board Action Report 012009 | doc | Jan 22 '09 | Committee Report |
Meetings That Took It Up 14
| Date | Meeting | Committee | Status |
|---|---|---|---|
| Jan 20 '09 | ERCOT Board of Directors Meeting | BOARD | Concluded |
| Jan 8 '09 | TAC Meeting | TAC | Concluded |
| Dec 18 '08 | PRS Meeting | PRS | Concluded |
| Nov 20 '08 | PRS Meeting | PRS | Concluded |
| Nov 7 '08 | Credit Work Group Meeting | CREDITWG | Concluded |
| Oct 23 '08 | PRS Meeting | PRS | Concluded |
| Oct 22 '08 | WMS Meeting | WMS | Concluded |
| Sep 22 '08 | TPTF Meeting | TPTF | Concluded |
| Sep 17 '08 | WMS Meeting | WMS | Concluded |
| Sep 8 '08 | TPTF Meeting | TPTF | Concluded |
| Aug 25 '08 | TPTF Meeting | TPTF | Concluded |
| Aug 21 '08 | PRS Meeting | PRS | Concluded |
| Aug 20 '08 | WMS Meeting | WMS | Concluded |
| Jul 21 '08 | TPTF Meeting | TPTF | Concluded |