Partial Settlement Reached On Allocating Uplift Securitization Proceeds To LSEs In ERCOT, Pass-Through To Customers

September 17, 2021

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Reporting by Paul Ring • ring@energychoicematters.com

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Staff of the Public Utility Commission of Texas filed a letter with the PUC, in a proceeding concerning an "uplift" financing program as directed by HB 4492, stating that, "This letter is to notify you that Commission Staff and the parties to the above-styled docket have either agreed in principle or are unopposed to a settlement," that would resolve the issues noted below

HB 4492 creates a program to finance, and provide funds to LSEs, Reliability Deployment Price Adder ("RDPA") charges and Ancillary Service costs above the Commission's system-wide offer cap for the period beginning 12:01 a.m., February 12, 2021, and ending 11:59 p.m., February 20, 2021 (known as "uplift")

See more background on the program here

Staff said that the partial settlement would, "eliminate[] the Commission’s need to determine the following contested issues:

• "The methodology and process for allocation of securitization proceeds to load serving entities ('LSEs') and pass through of refunds to customers, which also obviates the need for the Commission to reach decisions on netting and proration;

• "Documentation of LSE exposure; and

• "The opt-out qualifications and process for eligible entities."

Substantive details concerning the settlement were not yet filed.

"The parties are continuing to work on finalizing the partial settlement agreement, along with the necessary supporting documentation. The parties intend to file these materials as soon as possible for the Commission to consider at its earliest convenience," Staff said

Staff said that, "The following parties have agreed to a settlement of the above referenced issues in this proceeding or are unopposed: Electric Reliability Council of Texas, Inc.; Commission Staff; Exelon Generation and Constellation New Energy; Calpine Corporation; Just Energy Texas LP; Tara Energy; Hudson Energy Services LLC; Gexa Energy LP; AP Gas & Electric (TX) LLC; Southern Federal Power LLC; NRG Energy Inc.; Tenaska Power Services; Office of Public Utility Counsel; Texas Industrial Energy Consumers; the Coalition of Competitive Retail Electric Providers (Alliance Power Company LLC, Brooklet Energy Distribution LLC, Bulb US LLC, Freepoint Energy Solutions LLC, LPT LLC, Summer Energy LLC, Young Energy, LLC); East Texas Electric Cooperative; Lower Colorado River Authority and LCRA WSC Energy; EDF Energy Services LLC; Luminant Energy Company LLC; TXU Load Serving Entities (TXU Energy Retail Company LLC, Ambit Texas, LLC, Luminant ET Services Company LLC, TriEagle Energy LP, and Value Based Brands LLC dba 4Change Energy, Express Energy, and Veteran Energy); Golden Spread Electric Cooperative Inc.; Engie Resources LLC and Engie Energy Marketing NA, Inc.; South Texas Electric Cooperative, Inc.; 174 Power Global Retail Texas LLC d/b/a Chariot Energy; Rayburn Country Electric Cooperative; Avangrid Renewables, LLC; Shell Energy North America (US), L.P.; Texas Retail Energy, LLC; Texpo Power LP; AEP Energy Partners Inc.; Tenaska Power Services Co.; Citigroup Energy, Inc.; City of Austin, City of Denton, City of Garland, City of Seguin, and City of Lubbock acting by and through Lubbock Power & Light; and DC Energy Texas LLC."

Staff said that, "The City of Georgetown has not taken a position at this time. A few other parties have not provided a final position on the settlement, but no party has indicated opposition."

Docket 52322

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