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ERCOT Proposes NPRR to Reflect Incremental Load Exposure to POLRs from Mass Transition
ERCOT has proposed Nodal Protocol Revision Request 601 to revise, "the calculation of credit exposure for Counter-Parties that are registered as Qualified Scheduling Entities (QSEs) and Load Serving Entities (LSEs) and provide Provider of Last Resort (POLR) service as a result of Mass Transition of a defaulting Counter-Party with Load."
ERCOT said that the revisions would allow a more accurate assessment of the exposure risk of a POLR in the event of a Mass Transition.
Specifically, the NPRR would add Incremental Load Exposure to the existing credit calculation.
The proposed Incremental Load Exposure metric provides that, in the event of a Mass Transition necessitated by the default of a Counter-Party that is registered as a QSE and an LSE, ERCOT may adjust the Total Potential Exposure (TPE) of Counter-Parties that are registered as QSEs and LSEs and further serve as POLRs to reflect the estimated Incremental Load Exposure resulting from the Mass Transition.
The adjustment would be based on the POLR's pro rata share of the defaulting Counter-Party's Real Time Liability Extrapolated (RTLE), based on the total estimated Electric Service Identifiers (ESI IDs) to be transitioned. ERCOT would communicate any such adjustment to the Authorized Representative of each Counter-Party who is a POLR within 24 hours of the initiation of a Mass Transition.
The Incremental Load Exposure adjustment would remain in place no more than the number of days necessary to effect a Mass Transition for the defaulting Counter-Party, after which time the incremental exposure would be fully reflected in the Counter-Party's unadjusted TPE.
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March 4, 2014
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