Updated, 10:45 a.m. 2/23, ERCOT Issues Second Market Notice On Discretion To Resolve Financial Obligations, Notes Use Of Undistributed CRR Revenue To Assist In Covering Short-pays

ERCOT Notes Actions Will Only Provide Limited Financial Support To Address The Market’s Current Liquidity Issues

ERCOT Encourages LSEs To Explore All Available Financial And/Or Business Transition Options At This Time

Earlier:
ERCOT Ends Temporary Deviation From Protocol Deadlines & Timing Related To Settlements, Collateral Obligations, & Invoice Payments

February 23, 2021

Email This Story
Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

The following story is brought free of charge to readers by EC Infosystems, the exclusive EDI provider of EnergyChoiceMatters.com

Updated, 10:45 a.m. 2/23

ERCOT issued a further market notice on Feb. 23 concerning its discretion to resolve financial obligations

The notice states, "On February 21, 2021, the PUCT issued an order granting ERCOT the authority to use its sole discretion in taking actions under the ERCOT Protocols to help resolve financial obligations between Market Participants and ERCOT."

"ERCOT is continuing to use its discretion authority under that order to help protect the overall integrity of the financial electric Market in the ERCOT Region. For example, ERCOT will begin utilizing up to $400 Million in undistributed Congestion Revenue Right (CRR) auction revenue to assist in covering short-paying Invoice Recipients," the notice stated

"While the Commission has provided ERCOT with discretion to take actions to help mitigate financial defaults and Market uplift resulting from short-paying Market Participants, such actions by ERCOT will only provide limited financial support to address the Market’s current liquidity issues. ERCOT encourages Counter-Parties and their represented Resource Entitles and Load Serving Entities to explore all available financial and/or business transition options at this time," the notice stated

Earlier:

ERCOT said in a Feb. 23 market notice that, "ERCOT has ended its temporary deviation from protocol deadlines and timing related to settlements, collateral obligations, and invoice payments."

"Invoices and settlement will be executed in accordance with Protocol language," ERCOT said in the notice

ADVERTISEMENT
NEW Jobs on RetailEnergyJobs.com:
• NEW! -- Energy Operations & Reporting Associate
• NEW! -- Commercial Sales Support Representative -- Retail Supplier
• NEW! -- Channel Partner/Channel Sales Manager -- Houston
• NEW! -- Wholesale Originator -- Retail Supplier -- Houston
• NEW! -- Trading Analyst -- Retail Supplier
• NEW! -- Renewables Trader -- Retail Supplier
• NEW! -- Channel Partner Sales Manager -- Retail Supplier
• NEW! -- Experienced Retail Energy Account Manager
• NEW! -- Sales Channel Manager -- Retail Supplier
• NEW! -- Retail Energy Account Executive -- Texas
• Supply and Pricing Analyst -- Retail Supplier -- DFW
• IT Billing Project Manager
• IT Billing Business Analyst