Archive

Daily Email

Events

 

 

 

About/Contact

Search

Texas PUC Seeks Briefing On Offsets, Affiliates In Determining Whether Entities Eligible For Compensation Under Reimbursement Financing Program For Costs Above ERCOT Price Cap

July 21, 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

The Texas PUC has issued a request seeking briefing on the treatment of offsets and affiliates in determining an entity's eligibility to seek compensation under the financing program established to compensate entities for costs above the system-wide offer cap during the relevant period of the winter weather event.

The PUC noted that any debt obligation order for such "uplift" financing program must provide the process for remitting the proceeds of the financing to load-serving entities who were "exposed to the costs included in the uplift balance," including a requirement for the load-serving entities to submit documentation of their exposure.

The PUC noted that some load-serving entities only made payments that included amounts in excess of the commission's system-wide offer cap. Other entities that made such payment may have also received payments -- or an affiliated entity may have received payments-that included amounts in excess of the commission's system-wide offer cap. "Some entities may be part of large, complex business structures where the entity that made such payments and the affiliated entities are separated by multiple levels of corporations and partnerships," the PUC noted

To assist the Commission in developing the required debt-financing mechanism, the Commission requested briefing on the following issues.

1. Does the phrase "exposed to the costs included in the uplift" contemplate offsetting the amounts paid in excess of the commission's system-wide offer cap by amounts received in excess of the commission's system-wide offer cap? If so, does this offset include amounts received by entities affiliated with the entity that made such payments?

2. What is the appropriate definition for entities affiliated with the entity that made such payments? If the entity that made such payments is part of a larger business structure, what is the highest level of the business structure (up to the ultimate parent of the larger business structure) that should be used to identify the affiliated entities whose amounts received should be used as an offset when determining the exposure of the entity that made such payment?

Project 52322

ADVERTISEMENT
NEW Jobs on RetailEnergyJobs.com:
NEW! -- Senior Account Operations Analyst -- Retail Supplier
NEW! -- Energy Procurement Manager
NEW! -- Natural Gas Retail Analyst -- Retail Supplier -- Houston
NEW! -- Associate Director of Market Strategy -- New York/Anywhere
NEW! -- Energy Risk Professional -- Retail Supplier -- Houston
NEW! -- Energy Customer Support Specialist -- Retail Supplier -- Houston
NEW! -- Business Development Account Executive - Indirect Broker Sales -- Retail Supplier -- Houston
NEW! -- Customer Engagement Manager -- Retail Supplier -- Houston
NEW! -- Energy Customer Service Specialist
NEW! -- Energy Sales Executive
NEW! -- Senior Energy Intelligence Analyst
NEW! -- Energy Advisor

Email This Story

HOME

Copyright 2010-21 Energy Choice Matters.  If you wish to share this story, please email or post the website link; unauthorized copying, retransmission, or republication prohibited.

 

Archive

Daily Email

Events

 

 

 

About/Contact

Search