NPRR #484 · Revision Request
NPRR484 Revisions to Congestion Revenue Rights Credit Calculations and Payments
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 '12
PRSFiled by Luminant Energy Company, LLC
- Oct 10 '12
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Oct 18 '12
PRS Protocol Revision Subcommittee (PRS) MeetingPRSRecommended for Approval Recommended 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 '12
- Nov 7 '12
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Nov 15 '12
PRS Protocol Revision Subcommittee (PRS) MeetingPRSDeferred/Tabled Tabled Referred → WMS“To table NPRR484 for one month pending an Impact Analysis and refer associated issues to WMS.” — Passed→ PRS consideration
- Dec 5 '12
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Dec 13 '12
PRS Protocol Revision Subcommittee (PRS) MeetingPRSRecommended for Approval Recommended 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 '13
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Jan 17 '13
PRS Protocol Revision Subcommittee (PRS) MeetingPRSRecommended for Approval Recommended 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 '13
TAC Technical Advisory Committee (TAC) MeetingTACRecommended for Approval Recommended 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 '13
BOARD Board of Directors MeetingBOARDApproved Recommended for approval“To approve NPRR484 as recommended by TAC in the 2/7/13 TAC Report”
- Jun 5 '13
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Jun 6 '13
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