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NPRR #484 · Revision Request

NPRR484  Revisions to Congestion Revenue Rights Credit Calculations and Payments

Approved sponsor Luminant Energy Company, LLC posted 2012-09-28 ercot.com
ReasonThe current credit calculations collateralize in a uniform manner and do not recognize that different congestion paths have various levels of risk. This can lead to under-collateralization of the riskiest paths, leaving the market exposed, or significant over-collateralization, therefore increasing the cost of participation for many Market Participants. In addition, this proposal allows Market Participants to post collateral in lieu of pre-paying for forward awarded CRRs.
Created2012-10-18
Approved2013-03-19
Sections Affected
7.5.5.39.99.9.19.9.216.11.4.5
Summary
This Nodal Protocol Revision Request (NPRR) replaces the Congestion Revenue Right (CRR) Auction credit calculations with path-specific exposure calculations based on Day-Ahead Market (DAM) clearing prices over a rolling period and revises the Future Credit Exposure (FCE) calculations for CRR Account Holders; which results in a modification to the payment schedule for CRRs.
Action Log 6 milestones
Amendments
DateBodyMotionResult
Oct 18 '12PRS To recommend approval of NPRR484 as amended by the 10/17/12 ERCOT comments and as revised by PRS.
Dec 13 '12PRS To endorse the 10/18/12 PRS Report for NPRR484 as amended by the 12/12/12 ERCOT comments and to request that NPRR484 return to the January 17, 2013 PRS meeting with a final Impact Analysis.Passed
Jan 17 '13PRS To endorse and forward NPRR484 as recommended by PRS in the 12/13/12 PRS Report and as amended by the 1/10/13 ERCOT comments and 1/10/13 Luminant Energy comments; and the preliminary Impact Analysis for NPRR484 to TAC with a recommended priority of 2014 and rank of 895.Passed
Documents 23
NameTypePostedClassification
484NPRR-01 Revisions to Congestion Revenue Rights Credit Calcula doc Sep 28 '12 Revision Request
484NPRR-02 Luminant Energy Comments 101012 doc Oct 10 '12 Revision Request Comments
484NPRR-03 WMS Comments 101112 doc Oct 11 '12 Revision Request Comments
484NPRR-04 Luminant Energy Comments 101612 doc Oct 16 '12 Revision Request Comments
484NPRR-05 ERCOT Comments 101712 doc Oct 17 '12 Revision Request Comments
484NPRR-06 PRS Report 101812 doc Oct 23 '12 Committee Report
484NPRR-07 Credit Work Group Comments 110612 doc Nov 6 '12 Revision Request Comments
484NPRR-08 ERCOT Comments 110712 doc Nov 7 '12 Revision Request Comments
484NPRR-09 Luminant Energy Comments 111212 doc Nov 12 '12 Revision Request Comments
484NPRR-10 PRS Report 111512 doc Nov 19 '12 Committee Report
484NPRR-11 Preliminary Impact Analysis 121212 doc Dec 12 '12 Staff Report
484NPRR-12 ERCOT Comments 121212 doc Dec 12 '12 Revision Request Comments
484NPRR-13 PRS Report 121312 doc Dec 17 '12 Committee Report
484NPRR-14 ERCOT Comments 011013 doc Jan 10 '13 Revision Request Comments
484NPRR-15 Luminant Energy Comments 011013 doc Jan 10 '13 Revision Request Comments
484NPRR-16 Reliant & NRG Comments 011613 doc Jan 16 '13 Revision Request Comments
484NPRR-17 GDF Suez Comments 011613 doc Jan 16 '13 Revision Request Comments
484NPRR-18 Preliminary Impact Analysis 011613 doc Jan 16 '13 Staff Report
484NPRR-19 PRS Report 011713 doc Jan 22 '13 Committee Report
484NPRR-20 PRS Roll Call Vote 011713 xls Jan 22 '13 Revision Request Ballot
484NPRR-21 Impact Analysis 013013 doc Jan 30 '13 Staff Report
484NPRR-22 TAC Report 020713 doc Feb 11 '13 Committee Report
484NPRR-23 Board Report 031913 doc Mar 21 '13 Committee Report
Meetings That Took It Up 29
DateMeetingCommitteeStatus
Dec 8 '15 Board of Directors Meeting BOARD Concluded
Oct 29 '15 TAC Meeting TAC Concluded
Oct 15 '15 PRS Meeting PRS Concluded
Sep 10 '15 PRS Meeting PRS Concluded
Aug 5 '15 WMS Meeting WMS Concluded
Jul 22 '15 CWG/MCWG Meeting CREDITWG Concluded
Jun 3 '15 WMS Meeting WMS Concluded
May 20 '15 CWG/MCWG Meeting CREDITWG Concluded
Nov 13 '13 Wholesale Market Subcommittee (WMS) Meeting WMS Concluded
Oct 30 '13 Joint Credit Working Group (CWG)/Market Credit Working Group (MCWG) Meeting CREDITWG Concluded
Oct 9 '13 Wholesale Market Subcommittee (WMS) Meeting WMS Concluded
Sep 25 '13 Joint Credit Working Group (CWG)/Market Credit Working Group (MCWG) Meeting CREDITWG Concluded
Sep 11 '13 Wholesale Market Subcommittee (WMS) Meeting WMS Concluded
Sep 4 '13 Congestion Management Working Group (CMWG) Meeting CMWG Concluded
Aug 7 '13 Congestion Management Working Group (CMWG) Meeting CMWG Concluded
Jun 26 '13 Joint Credit Working Group (CWG)/Market Credit Working Group (MCWG) Meeting CREDITWG Concluded
Jun 6 '13 Technical Advisory Committee (TAC) Meeting TAC Concluded
Jun 5 '13 Congestion Management Working Group (CMWG) Meeting CMWG Concluded
Mar 19 '13 Board of Directors Meeting BOARD Concluded
Feb 7 '13 Technical Advisory Committee (TAC) Meeting TAC Concluded
Jan 17 '13 Protocol Revision Subcommittee (PRS) Meeting PRS Concluded
Jan 9 '13 Wholesale Market Subcommittee (WMS) Meeting WMS Concluded
Dec 13 '12 Protocol Revision Subcommittee (PRS) Meeting PRS Concluded
Dec 5 '12 Wholesale Market Subcommittee (WMS) Meeting WMS Concluded
Nov 15 '12 Protocol Revision Subcommittee (PRS) Meeting PRS Concluded
Nov 7 '12 Wholesale Market Subcommittee (WMS) Meeting WMS Concluded
Oct 31 '12 Joint Credit Working Group (CWG)/Market Credit Working Group (MCWG) Meeting by WebEx Only MCWG Concluded
Oct 18 '12 Protocol Revision Subcommittee (PRS) Meeting PRS Concluded
Oct 10 '12 Wholesale Market Subcommittee (WMS) Meeting WMS Concluded