Wholesale Market Subcommittee Update Technical Advisory Committee March 7 th, 2013.

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Presentation transcript:

Wholesale Market Subcommittee Update Technical Advisory Committee March 7 th, 2013

Letter of Credit Concentrations background information ERCOT proposed a dollar limit on letters of credit per counter party per financial institution. And an overall limit per financial institution based on credit rating and tangible net worth with an absolute cap. ERCOT would be required to notify market if an issuer is near the aggregate limit.

Letter of Credit Concentrations MCWG and CWG spent lot of time on this, but all proposals raised serious concerns. WMS is asking for TAC guidance on this issue since it appears there is no workable solution.

Wholesale Storage Load Definition Update Current definition of WSL is list-based – “WSL is limited to the following technologies: batteries, flywheels, compressed air energy storage, pumped hydro- electric power, and electro chemical capacitors” WMS passed the following motion: WMS recommends the WSL definition remain in the Protocols and that it retain the eligible technologies clarity requested by ERCOT, and directs ETWG to proceed with redefining WSL-eligible technologies by criteria, with a list for illustrative purposes. Seeking TAC input on WMS action