Executive Summary
PRS held a short meeting today, as many people wanted to listen to the Texas Senate Business and Commerce Committee’s hearing on the ERCOT market. The securitization NPRRs were introduced, NPRR1096(Duration for batteries providing NonSpin) passed, a new NPRR allowing for full fuel cost recovery for Reliability Unit Committed (RUC’d) resources was introduced in concept (filed later that afternoon as NPRR1124), and a new special PRS meeting was announced for April 6th to allow NPRRs 1108(ERCOT to approve/deny all generator outages) and the aforementioned 1124 to be quickly passed.
Agenda
Notes
- NPRR1122(Clarifications on Securitization M -Defaults) -ERCOT introduced the NPRR which 1) emphasizes that funds need to be deposited to the correct accounts and 2) plugs a escrow gap that could occur if a trader entered and exited in the same month.
- NPRR1123(Clarifications on Securitization N -Uplifts) -ERCOT introduced the NPRR which 1) emphasizes that funds need to be deposited to the correct accounts and 2) clarifies what happens if an LSE is required to return securitization proceeds and 3) clarifies that initial escrow amount can be based upon estimated activity for new entrants.
- NPRR1096(Duration for batteries providing NonSpin) -Passed 80/20 with no real discussion.
- When asked if NPRR1058(Allow generators to change bids more frequently and closer to operating time period), if passed, would need to wait until after the Energy Management System (EMS) Upgrade ERCOT replied that it would not, as it has a strictly Market Management System (MMS) impact.
- ERCOT gave a heads up that they are introducing NPRR1124(Allowing RUC’d resources to recover actual fuel costs) and would like it approved as quickly as possible.
- Martha announced that there will be a special PRS on April 6th to allow NPRR1108(ERCOT to approve/deny all generator outages) and NPRR1124(Allowing RUC’d resources to recover actual fuel costs) to pass quickly.
- NPRR1112(Reduce unsecured credit maximum to $30M) passed on the combo ballot.
