Update on ERCOT Credit Work Group Changes
Stay informed about the latest updates and approved revisions regarding credit calculations, collateral requirements, and registration processes in the ERCOT framework. Changes range from exemption criteria for specific entities to clarifications on credit exposure calculations. Keep track of implementation timelines and project statuses for a smoother transition and compliance. Visit the provided links for detailed information.
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Presentation Transcript
Credit Updates Credit Work Group ERCOT Public February 21, 2018
Credit Updates Approved Revision / Change Requests Project Status Target Release Date* Revision / Change Request NPRR 484 (1B) Revision to Congestion Revenue Rights Credit Calculations and Payments P TBD NPRR 519 Exemption of ERS-Only QSEs from Collateral and Capitalization Requirements E Dec 2018 NPRR 620 Collateral Requirements for Counter-Parties with No Load or Generation E Dec 2018 NPRR 702 Flexible Accounts, Payment of invoices, and Disposition of Interest on Cash Collateral P TBD E Dec 2018 NPRR 755 Data Agent Only QSE Registration NPRR 829 Incorporate Real-Time Non-Modeled Telemetered Net Generation by Load Zone into the Estimate of RTL P TBD Project Status Codes: NS = Not Started, I = Initiation, P = Planning, E = Execution, H = On Hold TBD = To Be Determined 2 PUBLIC
Credit Updates Implemented Change Requests NPRR 673 - Correction to Estimated Aggregate Liability (EAL) for a QSE that Represents Neither Load nor Generation NPRR 671 Incorporation of DAM Credit Parameters into Protocols NPRR 670 Clarification of Portfolio-Weighted Auction Clearing Price (PWACP) NPRR 612 Reduction of Cure Period Subsequent to Event of Default SCR 778 Credit Exposure Calculations for NOIE Options Linked to RTM PTP Obligations NPRR 559 Revisions to MCE Calculation NPRR 597 - Utilize Initial Estimated Liability (IEL) Only During Initial Market Activity NPRR 601 - Inclusion of Incremental Exposure in Mass Transitions to Counter- Parties that are Registered as QSEs and LSEs and Provide POLR Service NPRR 639 - Correction to Minimum Current Exposure NPRR 690 Incorporation of Creditworthiness Standards in Protocols NPRR 692 Removal of MIS Posting Requirement of DAM Credit Parameters NPRR 728 - Removal of Language Related to NPRR484, Revisions to Congestion Revenue Rights Credit Calculations and Payments, and NPRR554, Clarification of Future Credit Exposure Calculation 3 PUBLIC
Credit Updates Implemented Change Requests NPRR 741 - Clarifications to TPE and EAL Credit Exposure Calculations Reports will be updated in December 2018 NPRR 773 Broadening Scope of Acceptable Letter of Credit Issuers NPRR 791 Clarifications to IEL, MCE, and Aggregate Amount Owed by Breaching Party NPRR 803 Remove Grey-boxed Language from NPRR 439, Updating a Counter- Party s Credit Limit for Current Day DAM NPRR 808 Three-Year CRR Auction NPRR 683 Revision to Available Credit Limit Calculation NPRR 648 Remove Reference to Flowgate Rights NPRR 743 Revision to MCE to have a Floor for Load Exposure NPRR 800 Revisions to Credit Exposure Calculations to Use Electricity Future Market Prices NPRR 760 Calculation of Exposure Variables For Days With No Activity 4 PUBLIC
Credit Updates Withdrawn Change Requests SCR 785 Update RTL calculation to include Real-Time Reserve Price Adder-based components NPRR 811 Two Day Cure Period for Foreign Market Participant Guarantee Agreements 5 PUBLIC
Credit Updates Regular CWG/MCWG update at April F&A/Board On February 7, 2018, Implemented NPRR(s)/Phase 1A 683 Revision to Available Credit Limit Calculation 743 Revision to MCE to Have a Floor for Load Exposure 760 Calculation of Exposure Variables for Days With No Activity 800 Revisions to Credit Exposure Calculations to Use Electricity Futures Market Price 741 Clarification to TPE and EAL Credit Exposure Calculation Audited financials and Standard Form Agreement Attachment A required by April 30th for Counter-Parties with December 31, 2017 financial year ends 6 PUBLIC
Credit Updates Questions 7 PUBLIC
