PRR 568 – Settlement Timeline PRR 638 – Invoice Timeline PRR 599 – Mismatch Notification COPS January 2006 Updates.

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Presentation transcript:

PRR 568 – Settlement Timeline PRR 638 – Invoice Timeline PRR 599 – Mismatch Notification COPS January 2006 Updates

2 PRR 568 – Change Initial Settlement from 17 days to 10 days PRR 638 – Change Settlement Invoice Due Date from 16 Calendar Days to Five Bank Business Days Updates PRR 599 – Notification for Mismatched Inter- QSE Energy Schedules

3 PRR 568 PRR 638

4 PRR 568 – Where Are We? Analysis Period: ERCOT provides Ch 0 cuts for Load and Generation Extracts  1 st 30 day run in Aug 2005  2 nd 30 day run Sept 15 to Oct 15, 2005  Ch 0 is a day 8 aggregation, the data that would be used for day 10 settlement ERCOT provides reporting similar to Report provided at COPS Feb 2005 mtg Market Participants exchange ideas observations of Ch 0 cuts in conference calls every 2 weeks The 1 st call to occur approximately 20 days after the first date Ch 0 data was made available Nov 14, 2005 Market Participants end Ch 0 analysis. Ready for COPS vote/Recommendation development Dec 1, 2005 COPS recommendation to TAC if desired to change the February 2006 implementation schedule for PRR568 Trade Date to Start the migration to Day 10 Initial Settlement, Publication of binding Settlement Statement for this date would be February 2, 2006 March 16, 2006 Anticipated date for completion of PRR568 implementation Jan 17, 2006

5  Begins with Initial Settlement of January 17, 2006  Publish extra Initial Statement on each Invoice:  February 9, 2006  February 16, 2006  February 23, 2006  March 2, 2006  March 9, 2006  March 16, 2006  March 23, 2006  March 30 Invoice will contain 7 Initial Statements published according to the 10-day settlement period. PRR 568 Implementation

6  Moves Invoice due date from 16 calendar days after issuance to 5 bank business days after issuance.  Approved by TAC on January 12,  Goes to the ERCOT Board on February 20,  If approved by the ERCOT Board, this PRR will go into effect with the Invoice issued on March 9.  The invoice due dates will begin changing before we have completely transitioned from 17-day to 10-day Initial Settlements. PRR 638 Status

7 PRR 568 Settlement Statement Calendar Operating Day Initial Statement Publication Date Days from Operating Day to initial StatementInvoice Date 1/13 1/30172/9 1/14 1/31172/9 1/15 2/01172/9 1/16 2/02172/9 1/17 2/02162/9 1/18 2/03162/9 1/19 2/06182/9 1/20 2/06172/9 1/21 2/06162/16 1/22 2/07162/16 1/23 2/08162/16 1/24 2/09162/16 1/25 2/09152/16 1/26 2/10152/16 1/27 2/13172/16 1/28 2/13162/16

8 Operating Day Initial Statement Publication Date Days from Operating Day to initial StatementInvoice Date 1/29 2/13152/23 1/30 2/14152/23 1/31 2/15152/23 2/1 2/16152/23 2/2 2/16142/23 2/3 2/17142/23 2/4 2/20162/23 2/5 2/20152/23 2/6 2/20143/2 2/7 2/21143/2 2/8 2/22143/2 2/9 2/23143/2 2/10 2/23133/2 2/11 2/24133/2 2/12 2/27153/2 2/13 2/27143/2 PRR 568 Settlement Statement Calendar

9 Operating Day Initial Statement Publication Date Days from Operating Day to initial StatementInvoice Date 2/14 2/27133/9 2/15 2/28133/9 2/16 3/01133/9 2/17 3/02133/9 2/18 3/02123/9 2/19 3/03123/9 2/20 3/06143/9 2/21 3/06133/9 2/22 3/06123/16 2/23 3/07123/16 2/24 3/08123/16 2/25 3/09123/16 2/26 3/09113/16 2/27 3/10113/16 2/28 3/13133/16 3/1 3/13123/16 PRR638 Would Take Effect Here PRR 568 Settlement Statement Calendar

10 Operating Day Initial Statement Publication Date Days from Operating Day to initial StatementInvoice Date 3/2 3/13113/23 3/3 3/14113/23 3/4 3/15113/23 3/5 3/16113/23 3/6 3/16103/23 3/7 3/17103/23 3/8 3/20123/23 3/9 3/20113/23 PRR 568 Settlement Statement Calendar A/S Lookback changed from 21 to 14 days

11 Invoice Payment Periods 2/16/20062/20/20062/23/20062/27/20063/02/20063/06/20063/09/20063/13/20063/16/20063/20/20063/23/20063/27/20063/30/20064/03/20064/06/20064/10/20062/13/20062/09/2006 Invoice Payment Periods without PRR 638Invoice Payment Periods after PRR Initials

12 PRR 548, PRR 599

13 PRR 599 Update  Currently, ERCOT remedies mismatched schedules by resolving both parties’ schedules into an Obligation to ERCOT and a Supply from ERCOT.  PRR 548 directs ERCOT to resolve only the difference between the mismatched schedules into an ERCOT Obligation or Supply, as appropriate.  PRR 599 directs ERCOT to provide a record of the amount of the mismatch to both parties involved in the mismatch.  PRR 599 is scheduled to be implemented with PRR 548 on March 29, 2006.

14 Questions