NPRR047  Credit Monitoring -- ERCOT Staff Clarifications

This NPRR incorporates the following topics: 1. Moving definition of Counter-Party from Section 16, Registration and Qualification of MPs, to Section 2, Definitions and Acronyms. 2. Validation and enforcement of credit constraints at the Counter-Party level in the DAM and CRR Auctions. 3. Provision of separate credit limit for DAM and CRR Auctions. 4. Clarification on calculating credit exposure and Available Credit Limit on Business Days. 5. Clarification on the language regarding Today’s Value of PTP Obligation, PTP Option and Flow Gate Rights. 6. Clarification on the terminology for pricing components of Mark to Market Value for Flow Gate Rights 7. Clarification on the flexibility to modify weighting factors associated with pricing components of Mark to Market Value for PTP Obligation, PTP Option and Flow Gate Rights. 8. Tracking Payment Breach, Late Payment by Market Participants instead of by Counter-Party. 9. Moving and clarifying language about forfeiture of CRRs from Section 9.9.1 to a new sub-section on "Declaration of forfeit of CRRs" in the Payment Breach section.