NPRR1023  Change to CRR Repossession Process

This Nodal Protocol Revision Request (NPRR) modifies the way that ERCOT handles the repossession of a Congestion Revenue Right (CRR) portfolio resulting from a Market Participant default. The current process of offering the repossessed CRRs in a one-time auction may not fully realize the potential value of the repossessed CRR portfolio, which can in turn result in increased uplift to the market. This NPRR establishes a means for liquidating a repossessed CRR portfolio over time by utilizing the Financial Security held by ERCOT for the Defaulting CRR Account Holder for Settlement purposes. This NPRR also modifies the process for forfeiture of CRRs resulting from non-payment or late payment of an Invoice by a CRR Account Holder, and proposes liquidating forfeited CRRs in the same manner as repossessed CRRs.