NOTICE DATE: June 1, 2022
NOTICE TYPE: M-A060122-01 Financial / Credit
SHORT DESCRIPTION: Error Identified in Calculation of Point-to-Point (PTP) Obligation Bid Credit Exposure Reduction
INTENDED AUDIENCE: All Market Participants
DAYS AFFECTED: May 27, 2022 to May 31, 2022
LONG DESCRIPTION: ERCOT has identified an error in the calculation of the Point-to-Point (PTP) Obligation bid credit exposure reduction. The credit reduction provided to a Counter- Party for existing Congestion Revenue Rights (CRRs), as required by ERCOT Protocols, Section 4.4.10(6)(d), Credit Requirement for DAM Bids and Offers, was inadvertently left out with the introduction of SCR 814, Point-to-Point (PTP) Obligation Bid Interval Limit, in the 2022-R3 release on May 26, 2022. ERCOT has determined that the error only impacted the PTP Obligation bid credit exposure reduction. ERCOT has implemented a software fix as part of an off-cycle release on May 31, 2022.
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