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Texas to Hold Workshop on REP Collateral Requirements, POLR Rates, Other SWOC Impacts; Issues Questions for Comment The Public Utility Commission of Texas has scheduled a workshop for October 17 to discuss the potential impacts of increases to the system wide offer cap on retail markets, including REP collateral requirements.
The Commission sought comment on the following in advance of the workshop:
1. Mitigating collateral requirements; Reducing credit exposure to participants
(a) What are ways to mitigate collateral requirements and reduce credit exposure to ERCOT and its participants? Would this require Commission action?
(b) Should ERCOT shorten the real-time market settlement timeline from its current nine days for invoice issuance down to five or even three days? Explain why. 2. Retail Electric Provider (REP) Certification Rules
• Should the commission's REP certification rules be amended to enhance the capital requirements for new REPs to address the additional risks that they may incur as a result of ERCOT's increased high System Wide Offer Cap (SWOC)? If so, how?
3. Customer Rate Impact of Provider of Last Resort (POLR) during peak load events
An increased SWOC could put additional financial strain on some REPs during a peak load event, potentially resulting in a REP failure during a peak load event. If such a REP failure were to occur, the affected customers transitioning to a POLR during the peak load event could potentially be required to immediately pay the POLR's highest rates.
(a) Should the POLR's capital requirements during such a mass transition be addressed? If so how?
(b) Should the customer's rates under such circumstances be addressed? If so, how? 4. Other Impacts
• Are there any other impacts of an increase to the SWOC on retail markets? If so, how can such impacts be addressed by the Commission?
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August 29, 2013
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Reporting by Paul Ring • ring@energychoicematters.com
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