NPRR #484 · Revision Request
NPRR484 Revisions to Congestion Revenue Rights Credit Calculations and Payments
- PRS Jan 17 '13
- TAC Feb 7 '13
- BOARD Mar 19 '13
- PUCT —
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.
Timeline
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Sep 28
PRSFiled by Luminant Energy Company, LLC
- Oct 10
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Oct 18
PRS Protocol Revision Subcommittee (PRS) MeetingPRSRecommended for Approval Amended by the Oct 17 '12 ERCOT comments“To recommend approval of NPRR484 as amended by the 10/17/12 ERCOT comments and as revised by PRS.”→ PRS consider the IA
- Oct 31
- Nov 7
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Nov 15
PRS Protocol Revision Subcommittee (PRS) MeetingPRSDeferred/Tabled Referred → WMS“To table NPRR484 for one month pending an Impact Analysis and refer associated issues to WMS.” — Passed→ PRS consideration
- Dec 5
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Dec 13
PRS Protocol Revision Subcommittee (PRS) MeetingPRSRecommended for Approval Amended by the Dec 12 '12 ERCOT comments Remanded → PRS“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→ PRS for Impact Analysis Review
- Jan 9
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Jan 17
PRS Protocol Revision Subcommittee (PRS) MeetingPRSRecommended for Approval Forwarded → TAC Amended by the Jan 10 '13 ERCOT comments Amended by the Jan 10 '13 Luminant Energy comments priority 2014 · rank 895“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→ TAC Consideration
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Feb 7
TAC Technical Advisory Committee (TAC) MeetingTACRecommended for Approval“To recommend approval of NPRR484 as recommended by PRS in the 1/17/13 PRS Report with a modified Priority of 2013 and rank of 580.” — Passed→ ERCOT Board Consideration
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Mar 19
BOARD Board of Directors MeetingBOARDApproved“To approve NPRR484 as recommended by TAC in the 2/7/13 TAC Report”
- Jun 5
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Jun 6
Listed without action at 17 meetings (Jun 6 '13 – Dec 8 '15)
- Technical Advisory Committee (TAC) Meeting
- Joint Credit Working Group (CWG)/Market Credit Working Group (MCWG) Meeting
- Congestion Management Working Group (CMWG) Meeting
- Congestion Management Working Group (CMWG) Meeting
- Wholesale Market Subcommittee (WMS) Meeting
- Joint Credit Working Group (CWG)/Market Credit Working Group (MCWG) Meeting
- Wholesale Market Subcommittee (WMS) Meeting
- Joint Credit Working Group (CWG)/Market Credit Working Group (MCWG) Meeting
- Wholesale Market Subcommittee (WMS) Meeting
- CWG/MCWG Meeting
- WMS Meeting
- CWG/MCWG Meeting
- WMS Meeting
- PRS Meeting
- PRS Meeting
- TAC Meeting
- Board of Directors Meeting