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NPRR #673 · Revision Request

NPRR673  Correction to Estimated Aggregate Liability (EAL) for a QSE that Represents Neither Load nor Generation

Approved sponsor ERCOT posted 2014-11-26 ercot.com
ReasonAs written in NPRR620, the Initial Estimated Liability (IEL) was defined as a fixed value, and the period for calculation of the IEL was not limited. While this eliminated the problem of certain circumstances where no collateral was required, it also meant that affected Counter-Parties would not receive credit for long positions (to the extent of the Minimum Current Exposure (MCE)), which was not the intent of NPRR620. This NPRR’s correction ensures that affected Counter-Parties can receive credit for long positions while maintaining the MCE.
Created2014-12-11
Approved2015-04-14
Sections Affected
16.11.4.2 and 16.11.4.3
Summary
This Nodal Protocol Revision Request (NPRR) corrects Protocol language introduced by NPRR620, Collateral Requirements for Counter-Parties with No Load or Generation, relating to Qualified Scheduling Entities (QSEs) representing neither Load nor Generation.
Timeline