NPRR #140 · Revision Request
NPRR140 Revision to CRR Obligation Margin Adder
- PRS Dec 18 '08
- TAC Jan 8 '09
- BOARD Jan 20 '09
- PUCT —
ReasonCurrent margin adder is excessive given the level of risk provided by the market and is well in excess of margin requirements of other markets. For instance, a Congestion Revenue Right (CRR) that is purchased for $0.10/MW will be margined $10.00 in ERCOT ($87,600 annually). That comparable CRR would be margined approximately $0.23 in the New York Independent System Operator (NYISO) market and even less in the Midwest Independent System Operator (MISO) market.
Created2008-08-21
Approved2009-01-20
Sections Affected
16.11.4.5Determination of the Counter-Party Future Credit Exposure
Summary
Revises the margin adder for Point-to-Point (PTP) Obligations to a value "X" to be determined by the subcommittee process.
Timeline
- Jul 14
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Jul 21
Listed without action at 1 meeting
- Aug 20
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Aug 21
PRS PRS MeetingPRSReferred Referred → TPTF“To refer NPRR140 to the Transition Plan Task Force (TPTF).” — Passed→ PRS language consideration
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Aug 25
Listed without action at 3 meetings (Aug 25 '08 – Sep 17 '08)
- Sep 22
- Oct 22
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Oct 23
PRS PRS MeetingPRSDeferred/Tabled“To table NPRR140 until the November 20th PRS meeting.” — Passed→ PRS consideration
- Nov 7
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Nov 20
PRS PRS MeetingPRSRecommended for Approval Amended by the Nov 19 '08 ERCOT comments“To recommend approval of NPRR140 as amended by ERCOT comments submitted on 11/19/08 and as revised by PRS.” — Passed→ PRS consider the Recommendation Report and IA
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Dec 18
PRS PRS MeetingPRSRecommended for Approval Forwarded → TAC“To endorse and forward the PRS Recommendation Report and Impact Analysis for NPRR140 to TAC.” — Passed→ TAC consideration
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Jan 8
TAC TAC MeetingTACRecommended for Approval Amended by the Oct 23 '08 WMS comments“To recommend approval of NPRR140 as recommended by PRS and the initial values of the variables as recommended by the 10/23/08 WMS comments.” — Passed→ Board consideration
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Jan 20
BOARD ERCOT Board of Directors MeetingBOARDApproved“To approve NPRR140 as recommended by TAC.” — Passed
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Posted since the last meeting