|
|
NPRR088
| Title: |
Revision to 16.11.5, Monitoring of a Counter-Party’s Creditworthiness and Credit Exposure by ERCOT |
| Next Group: |
|
| Next Step: |
|
| Status: |
Approved on 02/19/2008 |
| Related Issue: |
PRR744 |
| Related Project: |
|
| Date |
Gov Body |
Motion |
Result |
Against |
Abstentions |
| 02/19/2008 |
Board of Directors
|
Approved NPRR088 as recommended by TAC. |
Passed |
|
|
| 02/07/2008 |
TAC
|
To recommend approval of NPRR088 as recommended by PRS. |
Passed |
0 |
0 |
| 01/17/2008 |
PRS
|
Forward the Recommendation Report and IA to TAC for approval |
Passed |
0 |
0 |
| 12/13/2007 |
PRS
|
To recommend approval of NPRR088, as revised by Credit WG comments. |
Passed |
1 MOU |
2 IREP, Coop |
| 11/15/2007 |
PRS
|
To table NPRR088. |
Passed |
0 |
0 |
Vote tallies here reflect individual votes, not the weight of the votes by market segment. Affirmative votes are not recorded in these vote tallies. For additional details on the voting record, please consult the Recommendation or Action Report, or the official vote tally if available, as posted in the key documents.
| Status: |
Approved |
| Date Posted: |
10/31/2007 |
| Sponsor: |
Reliant Energy |
| Urgent: |
No |
| Sections: |
16.11.5 |
| Description: |
The revision ensures that ERCOT will receive and accept as sufficient from the Counter-Party, financial statements of the Counter-Party or a guarantor if a guarantee is being provided for the purpose of determining the Counter-Party’s creditworthiness. |
| Reason: |
Section 16.11.5 requires a Counter-Party and its guarantor to provide unaudited quarterly and audited annual financial statements to ERCOT for creditworthiness monitoring. Bilateral credit practices typically only require the financial statements of either the contracting entity or the guarantor, as there is only one entity whose creditworthiness is relied upon. Counter-Parties that are subsidiaries of larger organizations generally do not prepare audited financial statements at the subsidiary level, and in many cases, financial statements at the subsidiary level are not prepared at all. This revision conforms the protocols to industry credit practice. |
-
(02/21/08, .doc, )
-
(02/07/08, .doc, )
-
(01/18/08, .doc, )
-
(01/17/08, .doc, )
-
(12/17/07, .doc, )
-
(12/07/07, .doc, )
-
(11/19/07, .doc, )
-
(11/14/07, .doc, )
-
(11/14/07, .doc, )
-
(10/31/07, .doc, )
|
