NPRR #800 · Revision Request

NPRR800 Revisions to Credit Exposure Calculations to Use Electricity Futures Market Prices

Approved Urgent sponsor ERCOT posted 2016-08-30 ercot.com

ReasonMarket efficiencies or enhancements; Administrative

Created2016-09-15

Approved2017-02-14

Sections Affected

16.11.4.116.11.4.316.11.4.3.316.11.4.7

Summary

This Nodal Protocol Revision Request (NPRR) revises the Real-Time Liability Extrapolated (RTLE) and Day-Ahead Liability Extrapolated (DALE) factors used in the Counter-Party Estimated Aggregate Liability (EAL) and Minimum Current Exposure (MCE) calculations to use electricity futures mark-to-market prices for estimating forward risk. Forward adjustment factors for Real-Time Market (RTM) exposure and Day-Ahead Market (DAM) exposure are calculated using a ratio of futures average price to historic average price of a reference hub. Limits can be set so that forward adjustment factors would fall in a specified range by using a set of parameters. The parameters could be updated through stakeholder review and approval process.

Timeline

Aug 30 '16
PRSFiled by ERCOT
- 800NPRR-01 Revisions to Credit Exposure Calculations to Use Electricity Futures Market Prices 083016 Aug 30 '16 · Revision Request
- 800NPRR-02 Impact Analysis 083016 Aug 30 '16 · Staff Report
Sep 15 '16
PRS PRS Meeting
PRSDeferred/Tabled Tabled Referred → CREDIT WG
“To table NPRR800 and refer the issue to the Credit Work Group (Credit WG).” — Passed

→ Language Consideration
Sep 21 '16
CREDITWG CWG/MCWG Meeting
- 800NPRR-03 PRS Report 091516 Sep 20 '16 · Committee Report
- 800NPRR-04 Credit WG Comments 092116 Sep 21 '16 · Revision Request Comments
Oct 13 '16
Listed without action at 4 meetings (Oct 13 '16 – Nov 10 '16)
- PRS Meeting Oct 13 '16
- CWG/MCWG Meeting Oct 19 '16
- WMS Meeting Nov 2 '16
- PRS Meeting Nov 10 '16
Nov 16 '16
CREDITWG CWG/MCWG Meeting
- 800NPRR-06 Credit WG Comments 111616 Nov 16 '16 · Revision Request Comments
Dec 1 '16
PRS PRS Meeting
- 800NPRR-05 Credit WG Comments 101916 Dec 1 '16 · Revision Request Comments
Jan 11 '17
Listed without action at 1 meeting
- WMS Meeting Jan 11 '17
Jan 19 '17
PRS PRS Meeting
PRSRecommended for Approval Urgent status Recommended for approval Amended by the Nov 16 '16 Credit WG comments Forwarded → TAC priority 2017 · rank 1561
“To grant NPRR800 Urgent status; to recommend approval of NPRR800 as amended by the 11/16/16 Credit WG comments; and to forward to TAC with a recommended priority of 2017 and rank of 1561” — Passed

→ TAC for consideration
- 800NPRR-07 WMS Comments 011217 Jan 13 '17 · Revision Request Comments
Jan 26 '17
TAC TAC Meeting
TACRecommended for Approval Recommended for approval Amended by the Jan 23 '17 ERCOT comments
“To recommend approval of NPRR800 as recommended by PRS in the 1/19/17 PRS Report as amended by the 1/23/17 ERCOT comments.” — Passed

→ Revision Request Consideration
- 800NPRR-08 PRS Report 011917 Jan 20 '17 · Committee Report
- 800NPRR-09 ERCOT Comments 012317 Jan 23 '17 · Revision Request Comments
Feb 14 '17
BOARD Board of Directors Meeting
BOARDApproved Recommended for approval
“To approve NPRR800 as recommended by TAC in the 1/26/17 TAC Report.” — Passed
- 800NPRR-10 TAC Report 012617 Jan 31 '17 · Committee Report
- 800NPRR-11 Board Report 021417 Feb 14 '17 · Committee Report