Credit Work Group Update April 4, 2008. General Credit Work Group met on Friday, March 7 Received...
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Transcript of Credit Work Group Update April 4, 2008. General Credit Work Group met on Friday, March 7 Received...
Credit Work Group UpdateApril 4, 2008
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 12th) and WMS (March
19th) 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
Tentative timeline for developing Credit Risk Appetite statement
Friday, April 18th – ERCOT staff distribute Credit Risk Appetite statement “strawman”
Friday, April 25th – CWG meeting at the Met Center (Rm 206) Review assumptions used in OW model Work on CRA statement
Wednesday, April 30th – ERCOT staff distribute revised CRA statement draft
Wednesday, May 7th – Comments due on CRA statement draft and assumptions used in OW model
Friday, May 9th – ERCOT staff distribute comments
Tuesday, May 13th or Thursday, May 15th –CWG meeting in Austin (Met Center?) Consider comments received Continue work on CRA statement
Friday, May 16th or Monday, May 19th – ERCOT staff distribute revised CRA statement draft
Tentative timeline for developing Credit Risk Appetite statement (continued)
Wednesday, May 21st – Final comments due on CRA statement draft
Thursday, May 22nd - ERCOT staff distribute final comments
Monday, May 26th – Memorial Day holiday
Wednesday, May 28th or Friday, May 30th – CWG meeting in Austin (Met Center?) Consider any final changes from comments Vote on proposed CRA statement
Wednesday, June 4th (special meeting?) or Thursday, June 5th – present proposed CRA statement at TAC
Tuesday, June 10th – include in mail out to F&A
Tuesday, June 17th – F&A to review draft CRA statement