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Just Energy Provides Estimate For Amount Of Costs For Which It Expects To Seek Recovery Under Texas Winter Storm Financing Program
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Noting the passage of the ERCOT market financing bill, which had been first reported by EnergyChoiceMatters.com, Just Energy Group Inc. ('Just Energy' or the 'Company') said that, "Based on current information, if the Commission [Texas PUC] approves the financing provided for in HB 4492, Just Energy anticipates that it will apply to the Commission to recover approximately US $100 million of Costs [as defined in the bill]."
Just Energy further said, "The total amount that the Company may recover through the mechanisms authorized in HB 4492 may change materially based on a number of factors, including the details of an established financing order or orders issued by the Commission, additional ERCOT resettlements, the aggregate amount of funds applied for under HB 4492 by participants, the outcome of the dispute resolution process initiated by the Company with ERCOT, and any potential challenges to the Commission’s order or orders. There is no assurance that the Company will be able to recover all of the Costs that it applies for under the Commissions order or orders."
As described by Just Energy, "HB 4492 addresses securitization of (i) ancillary service charges above US $9,000/MWh during the Weather Event; (ii) reliability deployment price adders charged by the Electric Reliability Council of Texas, Inc. ('ERCOT') during the Weather Event; and (iii) amounts owed to ERCOT due to defaults of competitive market participants, which were subsequently 'short-paid' to market participants, including Just Energy, (collectively, the 'Costs')."
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June 18, 2021
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Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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