NPRR347  Single Daily Settlement Invoice and Updates to Credit Calculations, including addition of a Minimum Collateral Exposure Component (formerly "Counter-Party Invoice and Single Daily Settlement Invoice")

This Nodal Protocol Revision Request (NPRR) proposes invoicing activity at the Counter-Party level based on the net amount of each Counter-Party’s Qualified Scheduling Entitie’s (QSE’s) and Congestion Revenue Right (CRR) Account Holder’s charges and credits. This NPRR also combines the Day-Ahead Market (DAM) and the Real-Time Market (RTM) Invoices into a single daily Settlement Invoice for these activities. The Settlement Invoice posting on a Business Day includes Operating Days for which a DAM Statement or RTM Statement is posting on the same Business Day. The Settlement Invoice due date is three Bank Business Days after the Settlement Invoice posts. To align with the concept of a single daily Settlement Invoice, this NPRR also requires: (a) adaptation of the language for partial payments and late fees; (b) adaptation of the language for the Default Uplift Invoice; (c) changes to related credit formulas; and (d) automation of the minimum collateral calculation given an increase in the frequency of the calculation. Also, since with this change, Real-Time Settlement Statements will generally be invoiced between three to ten days sooner, this NPRR also proposes reducing the average daily transaction extrapolated multiplier from 40 days to 35 days based on the median reduction in exposure of approximately five days