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Published byJulian Waters Modified over 9 years ago
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Credit Work Group Update April 4, 2008
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General Credit Work Group met on Friday, March 7 Received Ethics Training from ERCOT Legal staff Reviewed Credit Scoring Model used by OW Proposed an additional metric and changes to weightings that will be considered once YE data is available and results are reviewed Discussed approach to address ‘Credit Risk Appetite’ Statement Set next meeting Discussed upcoming Financial Statements due Reviewed CRR weighting factors strawman for Nodal go-live CWG Chair and / or ERCOT staff met with RMS (March 12 th) and WMS (March 19 th ) to familiarize them with the OW results generally and to determine how they would like to participate with the developing a Credit Risk Appetite Statement WMS and RMS agreed to participate with CWG The tentative timeline attached came out of those discussions and is set in Austin to ensure interested individuals can participate in the meetings
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Tentative timeline for developing Credit Risk Appetite statement Friday, April 18 th – ERCOT staff distribute Credit Risk Appetite statement “strawman” Friday, April 25 th – CWG meeting at the Met Center (Rm 206) Review assumptions used in OW model Work on CRA statement Wednesday, April 30 th – ERCOT staff distribute revised CRA statement draft Wednesday, May 7 th – Comments due on CRA statement draft and assumptions used in OW model Friday, May 9 th – ERCOT staff distribute comments Tuesday, May 13 th or Thursday, May 15 th –CWG meeting in Austin (Met Center?) Consider comments received Continue work on CRA statement Friday, May 16 th or Monday, May 19 th – ERCOT staff distribute revised CRA statement draft
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Tentative timeline for developing Credit Risk Appetite statement (continued) Wednesday, May 21st – Final comments due on CRA statement draft Thursday, May 22 nd - ERCOT staff distribute final comments Monday, May 26 th – Memorial Day holiday Wednesday, May 28 th or Friday, May 30 th – CWG meeting in Austin (Met Center?) Consider any final changes from comments Vote on proposed CRA statement Wednesday, June 4 th (special meeting?) or Thursday, June 5 th – present proposed CRA statement at TAC Tuesday, June 10 th – include in mail out to F&A Tuesday, June 17 th – F&A to review draft CRA statement
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