Credit Exposure Update and Monthly Highlights for ERCOT Public - July 2023
Stay updated on the credit exposure and market trends for ERCOT in July 2023. Discover insights on total potential exposure, discretionary collateral, adjustment factors, and more. Explore detailed analysis and data to make informed financial decisions.
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
You are allowed to download the files provided on this website for personal or commercial use, subject to the condition that they are used lawfully. All files are the property of their respective owners.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.
E N D
Presentation Transcript
Credit Exposure Update Credit Finance Sub Group ERCOT Public July 2023
Monthly Highlights May 2023 June 2023 Market-wide average Total Potential Exposure (TPE) slightly increased from $1.10 billion in May 2023 to $1.46 billion in June 2023 TPEA increased due to higher forward adjustment factors and Real-Time and Day-Ahead Settlement Point prices Discretionary Collateral is defined as Secured Collateral in excess of TPE,CRR Locked ACL and DAM Exposure Average Discretionary Collateral increased from $3.10 billion in May 2023 to $3.66 billion in June 2023 No unusual collateral call activity 2 PUBLIC
TPE and Forward Adjustment Factors Jun 2022 - Jun 2023 *TPE adjusted to exclude short pay entities eliminating data skew 3 PUBLIC
TPE/Real-Time & Day-Ahead Daily Average Settlement Point Prices for HB_NORTH Jun 2022 - Jun 2023 * TPE adjusted to exclude short pay entities eliminating data skew 4 PUBLIC
Available Credit by Type Compared to Total Potential Exposure (TPE) Jun 2022- Jun 2023 Numbers are as of month-end except for Max TPE Max TPE is the highest TPE for the corresponding month TPE less Defaulted Amounts: TPE Short-Paid Invoices 5 PUBLIC
Discretionary Collateral May 2023 - June 2023 * Discretionary Collateral adjusted to exclude short pay amounts eliminating data skew 6 PUBLIC
TPE and Discretionary Collateral by Market Segment - Jun 2023* Load and Generation entities accounted for the largest portion of discretionary collateral *Discretionary collateral doesn t include Unsecured Credit Limit or parent guarantees 7 PUBLIC
Discretionary Collateral by Market Segment Jun 2021 - Jun 2023 * Discretionary Collateral adjusted to exclude short pay amounts eliminating data skew 8 PUBLIC
TPEA Coverage of Settlements May 2022 - May 2023 Invoice Exposure Historical Future Existing Invoice Exposure RTLCNS + UDAA M1 Days (including current day) Forward Charge Invoice Amounts New Invoice Exposure 7 Days Back Net Invoice Amounts (Charges & Credits) M1 Days (including current day) Forward Net Invoice Amounts (Charges & Credits); Excluding: 1) Securitization Invoices; 2) CRR Auction Invoices; and 3) Subchapter N Funds Distribution Invoice TPEA closely approximates actual/invoice exposure TPEA adjusted to exclude short pay entities eliminating data skew 9 PUBLIC
TPEA Coverage of Settlements May 2022 - May 2023 Invoice Exposure Historical Future Existing Invoice Exposure RTLCNS + UDAA M1 Days (including current day) Forward Charge Invoice Amounts New Invoice Exposure 7 Days Back Net Invoice Amounts (Charges & Credits) M1 Days (including current day) Forward Net Invoice Amounts (Charges & Credits); Excluding: 1) Securitization Invoices; 2) CRR Auction Invoices; 3) Subchapter N Funds Distribution Invoice *TPEA exceeds invoice exposure *TPEA adjusted to exclude short pay entities eliminating data skew 1 0 PUBLIC
TPEA Coverage of Settlements May 2022 - May 2023 Invoice Exposure Historical Future Existing Invoice Exposure RTLCNS + UDAA M1 Days (including current day) Forward Charge Invoice Amounts New Invoice Exposure 7 Days Back Net Invoice Amounts (Charges & Credits) M1 Days (including current day) Forward Net Invoice Amounts (Charges & Credits); Excluding: 1) Securitization Invoices; 2) CRR Auction Invoices; 3) Subchapter N Funds Distribution Invoice *TPEA generally exceeds invoice exposure 11 PUBLIC
TPEA Coverage of Settlements May 2022 - May 2023 Invoice Exposure Historical Future Existing Invoice Exposure RTLCNS + UDAA M1 Days (including current day) Forward Charge Invoice Amounts New Invoice Exposure 7 Days Back Net Invoice Amounts (Charges & Credits) M1 Days (including current day) Forward Net Invoice Amounts (Charges & Credits); Excluding: 1) Securitization Invoices; 2) CRR Auction Invoices; 3) Subchapter N Funds Distribution Invoice Invoice exposure generally exceeds TPEA TPEA adjusted to exclude short pay entities eliminating data skew 1 2 PUBLIC
TPEA Coverage of Settlements May 2022 - May 2023 Invoice Exposure Historical Future Existing Invoice Exposure RTLCNS + UDAA M1 Days (including current day) Forward Charge Invoice Amounts New Invoice Exposure 7 Days Back Net Invoice Amounts (Charges & Credits) M1 Days (including current day) Forward Net Invoice Amounts (Charges & Credits); Excluding: 1) Securitization Invoices; 2) CRR Auction Invoices; 3) Subchapter N Funds Distribution Invoice * TPEA generally exceeds Invoice exposure 1 3 PUBLIC
TPES Coverage of Settlements May 2022 - May 2023 Invoice Exposure Historical Future Existing Invoice Exposure RTLCNS + UDAA M1 Days (including current day) Forward Charge Invoice Amounts New Invoice Exposure 7 Days Back Net Invoice Amounts (Charges & Credits) M1 Days (including current day) Forward Net Invoice Amounts (Charges & Credits); Excluding: 1) Securitization Invoices; 2) CRR Auction Invoices; 3) Subchapter N Funds Distribution Invoice *TPES exceeds actual/invoice exposure 1 4 PUBLIC
Questions 1 5 PUBLIC
