Another Settlement Reached Under Which Texas REP Would Relinquish Its Certificate
July 26, 2022 Email This Story Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • firstname.lastname@example.org
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Volt Electricity Provider, LP (Volt) has reached a settlement with Staff of the Public Utility Commission of Texas under which Volt would relinquish its REP certificates for Volt's alleged failure to timely satisfy settlement invoices and collateral calls in the aftermath of winter storm Uri
As previously reported, while ERCOT did terminate Volt's Standard Form Market Participant Agreement (SFA) in March 2021, Volt's customers were not subject to a POLR drop. Instead, the customers were acquired by another REP (see details here)
Among other terms, the settlement provides that, "To the extent that Volt's principals become a principal for another REP or market participant, Volt's principals will not, on behalf of the market participant, hire or otherwise contract with individuals or third-party consulting firms that are prohibited by Commission Order from exercising control over the operations of a Commission regulated entity."
The settlement does not include any administrative penalties