ERCOT NPRR1073 Implementation Updates and Requirements
Stay updated on the latest changes in ERCOT's NPRR1073 implementation, including new requirements for Market Participants, Principals, and ongoing compliance obligations. Learn about hiring processes, reporting requirements, and how to ensure compliance with the updated protocols.
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NPRR1073 Implementation Davida Dwyer November 3, 2021 WMS Meeting
NPRR1073 Adopted in Response to Uri Defaults Stakeholders expressed desires to prevent re-entry of Principals of former Market Participants with outstanding financial obligations to ERCOT and current Market Participants from exiting and re- entering to avoid default uplift charges. ERCOT Board recommended approval on 8/10/21; PUC voted to grant approval on 8/19/21. 2 PUBLIC
NPRR1073 Inter alia, adds at Protocol 16.1.2 a definition of a Principal of a Market Participant for purposes of registration and qualification. Modifies ERCOT s market-entry-qualification and continued- participation requirements for Counter Parties in ERCOT. Includes changes to applications to become a Counter Party and ongoing compliance obligations. Effective upon Staffing completion (1 FTE in Legal). 3 PUBLIC
NPRR1073 does NOT address Background checks (NPRR1067) Credit-risk assessments (NPRR1067) A different (non-ADR) appeals process (TBD) Securitization processes (NPRRs etc. are currently under development) 4 PUBLIC
NPRR1073 Implementation ERCOT is hiring a full-time employee in Legal, consistent with IA. Current expectation is an effective date of January 1, 2022; a Market Notice regarding the effective date will be sent at least 10 calendar days before that date. NPRR1073 included changes to QSE and CRRAH Applications for disclosures re Principals. QSEs and CRRAHs ongoing reporting obligations include disclosure of any changes in Principals within 2 business days. This form will be available on the ERCOT website. 5 PUBLIC
NPRR1073 Implementation - continued ERCOT is requiring a one-time report from all current QSEs or CRRAHs re their Principals. Form available on the ERCOT website. Market Notice regarding this reporting requirement will be sent to all current QSEs and CRRAHs tomorrow, November 4, 2021 . Completed form due to MPRegistration@ercot.com by December 15, 2021. 6 PUBLIC
Questions? 7 PUBLIC
