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Subject:	M-A101310-01 TCR - Addition of the December 2010 Zonal TCR Auction to the Auction Calendar
From:	ERCOT Client Relations <[log in to unmask]>
Date:	Wed, 13 Oct 2010 14:38:08 -0500
Content-Type:	text/plain
Parts/Attachments:	text/plain (14 lines)

NOTICE DATE: October 13, 2010
NOTICE TYPE: M-A101310-01 TCR
SHORT DESCRIPTION: Addition of the December 2010 Zonal TCR Auction to the Auction Calendar
INTENDED AUDIENCE: TCR Account Holders
DAY AFFECTED: October 13, 2010
LONG DESCRIPTION: The monthly December, 2010 Zonal TCR Auction has been added to the Auction Calendar as an opportunity for TCR Account Holders to secure zonal TCRs that are in effect and parallel to the planned nodal operations and settlement for December 1, 2010 - December 31, 2010.
Zonal December TCRs will be sold in parallel to the nodal December CRRs, but there is no obligation for the market to secure dual congestion rights for zonal and nodal markets. The first planned operating day of the nodal market, December 1, 2010, will be operated and settled based on nodal prices and nodal CRRs, and the zonal TCRs payments collected in the zonal TCR auctions (annual or monthly) will be reimbursed to the TCR Account Holder in full for the nodal Operating Days per the "TCR to CRR Transition Plan v1.04" posted at http://nodal.ercot.com/readiness/golive/index.html. The only value of zonal TCRs will be in the unforeseen event that the zonal market is active for any operating days in December, 2010.
Credit and collateral considerations: It is worth noting that December, 2010 TCR results and invoices will be posted Wednesday November 3, 2010 (with a market notice to be sent on Thursday November 4, 2010). The credit lock for the December CRR auction is Monday November, 8 at 5:00 PM. Please note that the timeframes are tight between the two auctions and plan for collateral accordingly. Entities will have three business days for companies wishing to manage their liquidity to wrap up their TCR activity (e.g. prepay the TCR invoice or reduce collateral for TCR auction) before the final date by which CRR collateral must be posted.
The TCR Auction Notice will be posted on October 22, 2010 in accordance with Zonal Protocols, Section 7.5.3.2.1 (the two dates are the result of the overlap of the TCR and CRR auctions during the lock down collateral period). This auction will take place from November 1, 2010 through November 3, 2010 in accordance with Section 7.5.3.1.
CONTACT: If you have any questions, please contact your ERCOT Account Manager. You may also call the general ERCOT Client Services phone number at (512) 248-3900 or contact ERCOT Client Services via e-mail at [log in to unmask]<mailto:[log in to unmask]>.
If you are receiving e-mail from an ERCOT distribution list that you no longer wish to receive, please follow this link in order to unsubscribe from this list: http://lists.ercot.com<http://lists.ercot.com/>.

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