NPRR #357 · Revision Request
NPRR357 Revisions to Collateral Requirements Concerning CRR Auctions (formerly "Multi-Month CRR Auction and Revisions to Collateral Requirements")
ReasonThis NPRR addresses operational, risk-management and collateral concerns around the annual CRR Auction. This NPRR is designed for organized market liquidity, which creates visibility and hedging opportunities. At the same time, this NPRR seeks to right-size credit risk in the pre-auction engine and Future Credit Exposure (FCE) calculations. By allowing for more accurate cash management and more liquidity of CRRs, Market Participants can better manage their CRR activities.
Created2011-05-19
Approved2011-08-16
Sections Affected
7.57.5.17.5.27.5.5.37.5.67.5.6.17.5.6.27.5.6.39.816.11.4.5
Summary
The Nodal Protocol Revision Request (NPRR) proposes revisions to collateral requirements for Congestion Revenue Right (CRR) Auctions including a pre-CRR Auction screening process to determine the maximum potential exposure of each CRR Account Holder and a path-specific adder to be defined by an ERCOT Board-approved methodology.
Action Log 5 milestones
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May 19
PRSDeferred/Tabled→ PRS consideration
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Jun 23
PRSRecommended for Approval→ PRS language consideration
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Jul 21
PRSRecommended for Approval→ TAC consideration
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Aug 4
TACRecommended for Approval→ ERCOT Board consideration
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Aug 16
BOARDApproved
Amendments
| Date | Body | Motion | Result |
|---|---|---|---|
| Jul 21 '11 | PRS | To grant NPRR357 Urgent status; recommend approval of NPRR357 as amended by the 7/18/11 ERCOT comments and as revised by PRS; and forward NPRR357 to TAC. | Passed |
| Aug 4 '11 | TAC | To recommend approval of NPRR357 as amended by the 8/4/11 ERCOT comments with a recommended priority of High and a rank of 20.5. | Passed |
Documents 23
| Name | Type | Posted | Classification |
|---|---|---|---|
| 357NPRR-01 Multi-Month CRR Auction and Revisions to Collateral R | doc | May 4 '11 | Revision Request |
| 357NPRR-02 Reliant Energy Retail Services Comments 051811 | doc | May 18 '11 | Revision Request Comments |
| 357NPRR-03 PRS Report 051911 | doc | May 20 '11 | Committee Report |
| 357NPRR-04 Luminant Energy Comments 061311 | doc | Jun 13 '11 | Revision Request Comments |
| 357NPRR-05 Reliant Comments 062111 | doc | Jun 21 '11 | Revision Request Comments |
| 357NPRR-06 PRS Report 062311 | doc | Jun 24 '11 | Committee Report |
| 357NPRR-07 Luminant Energy Comments 071111 | doc | Jul 11 '11 | Revision Request Comments |
| 357NPRR-08 Reliant Energy Comments 071211 | doc | Jul 12 '11 | Revision Request Comments |
| 357NPRR-09 WMS Comments 071811 | doc | Jul 18 '11 | Revision Request Comments |
| 357NPRR-10 ERCOT Comments 071811 | doc | Jul 18 '11 | Revision Request Comments |
| 357NPRR-11 PRS Report 072111 | doc | Jul 25 '11 | Committee Report |
| 357NPRR-12 Luminant Energy Comments 080111 | doc | Aug 1 '11 | Revision Request Comments |
| 357NPRR-13 ERCOT Comments 080211 | doc | Aug 2 '11 | Revision Request Comments |
| 357NPRR-14 ERCOT Comments 080211 | doc | Aug 2 '11 | Revision Request Comments |
| 357NPRR-15 Preliminary Impact Analysis 080311 | doc | Aug 4 '11 | Staff Report |
| 357NPRR-16 ERCOT Comments 080411 | doc | Aug 4 '11 | Revision Request Comments |
| 357NPRR-17 Cost Benefit Analysis 080411 | xls | Aug 4 '11 | Staff Report |
| 357NPRR-18 TAC Report 080411 | doc | Aug 5 '11 | Committee Report |
| 357NPRR-19 Impact Analysis 080811 | doc | Aug 8 '11 | Staff Report |
| 357NPRR-20 Revised Cost Benefit Analysis 080811 | xls | Aug 8 '11 | Revision Request Comments |
| 357NPRR-21 ERCOT Comments 081111 | doc | Aug 11 '11 | Revision Request Comments |
| 357NPRR-22 Revised Cost Benefit Analysis 081111 | xls | Aug 11 '11 | Staff Report |
| 357NPRR-23 Board Report 081611 | doc | Aug 16 '11 | Committee Report |
Meetings That Took It Up 13
| Date | Meeting | Committee | Status |
|---|---|---|---|
| Apr 16 '12 | Board of Directors Meeting | BOARD | Concluded |
| Feb 2 '12 | Technical Advisory Committee (TAC) Meeting | TAC | Concluded |
| Jan 19 '12 | Protocol Revision Subcommittee (PRS) Meeting | PRS | Concluded |
| Dec 15 '11 | PRS Meeting | PRS | Concluded |
| Aug 16 '11 | Board of Directors Meeting | BOARD | Concluded |
| Aug 4 '11 | TAC Meeting | TAC | Concluded |
| Jul 21 '11 | PRS Meeting | PRS | Concluded |
| Jul 13 '11 | WMS Meeting | WMS | Concluded |
| Jul 6 '11 | NPR357 Workshop | Concluded | |
| Jun 23 '11 | PRS Meeting | PRS | Concluded |
| Jun 15 '11 | WMS Meeting | WMS | Concluded |
| May 19 '11 | PRS Meeting | PRS | Concluded |
| May 11 '11 | WMS Meeting | WMS | Concluded |