ERCOT Said To Have Revoked Another Retail Electric Provider's Market Participation Rights, Breach Allegedly Not Cured
March 22, 2021 Email This Story Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • firstname.lastname@example.org
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Staff of the Public Utility Commission of Texas filed a petition to revoke the retail electric provider (REP) certificate of Volt Electricity Provider LP (Volt) as Staff alleged that ERCOT has revoked all rights of Volt to conduct activity in the ERCOT market
Volt said in a statement to EnergyChoiceMatters.com that, "Currently Volt doesn’t have any customers and therefore no one will be sent to POLR." As of Feb. 1, 2021, Volt had been actively serving customers in Texas
Volt further stated, "Volt is disputing the ERCOT settlements and calculations and exercising our administrative remedies to address the dispute."
Staff alleged that, "On Friday, March 19, 2021, the Electric Reliability Council of Texas (ERCOT) revoked all rights of Volt to conduct activity under the ERCOT Protocols due its failure to cure a material breach of Volt’s standard form market participant agreement with ERCOT. Volt failed to provide required collateral and to timely pay settlement invoices to ERCOT. Additionally, Volt was unable to cure the material breach within the deadline provided by ERCOT. Given these circumstances, Commission Staff believes that Volt is no longer able to meet its obligations to ERCOT."
Staff initiated the instant revocation petition to: (1) revoke Volt’s REP certificate number 10226 (2) identify claims against the financial resources relied upon by Volt in obtaining its REP certificate; and (3) proceed against any financial resources that Volt relied on to obtain its REP certification in accordance with 16 TAC § 25.107(f) and (i)(7).