NPRR #597 · Revision Request
NPRR597 Utilize Initial Estimated Liability (IEL) Only During Initial Market Activity
ReasonAs expressed in EAL, IEL may be used to determine collateral over an indefinite time. Since IEL is intended to serve as an estimate of market activity before trading records are available, it should not continue to be used after that time.
Created2014-03-18
Approved2014-06-10
Sections Affected
16.11.4.3
Summary
This Nodal Protocol Revision Request (NPRR) clarifies that the Initial Estimated Liability (IEL) component of the Estimated Aggregate Liability (EAL) calculation is to be used only during the first 40 days of a Counter-Party’s activity in ERCOT markets.
Timeline
- Feb 6 '14
-
Mar 18 '14
PRS PRS MeetingPRSRecommended for Approval Recommended for approval“To recommend approval of NPRR597 as submitted.” — Passed→ PRS for IA review.
-
Apr 10 '14
PRS PRS MeetingPRSRecommended for Approval Recommended for approval Forwarded → TAC priority 2014 · rank 1140“To endorse and forward the 3/18/14 PRS Report and Impact Analysis for NPRR597 to TAC with a recommended priority of 2014 and rank of 1140.” — Passed→ TAC for consideration
-
Apr 24 '14
TAC TAC MeetingTACRecommended for Approval Recommended for approval“To recommended approval of NPRR597 as recommended by PRS in the 4/10/14 PRS report.” — Passed→ Board for consideration
-
Jun 10 '14
BOARD Board of Directors MeetingBOARDApproved Approved“To approve NPRR597 as recommended by TAC in the 4/24/14 TAC Report.” — Passed