March 16, 2021
Mitsubishi Subsidiary Creates New Retail Energy Company In U.S.
Diamond Retail Energy, LLC applied for FERC market-based rate authority
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March 15, 2021
Griddy Energy Files For Chapter 11 Protection
Seeks Court Authority To Release Customers From Outstanding Bills
Griddy Energy LLC ("Griddy" or the "Company") announced today that it has filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the Southern District of Texas, together with a proposed plan of reorganization -- a feature of which is to give releases to former…
March 15, 2021
Texas Senate Approves Bill To Re-Price ERCOT Energy, Ancillary Services Prices
The Texas Senate has approved SB 2142, a new bill just filed today, that would order the PUC to re-price ERCOT wholesale power and ancillary services prices for the period beginning 11:55 p.m., February 17, 2021, and ending 9 a.m., February 19, 2021
March 15, 2021
Texas Bill Would Require Plan For Re-regulation Of Electricity Sales, Production
Texas State Rep. Lyle Larson has introduced a bill, HB 4323, to require development of a plan for re-regulation the electric industry
March 12, 2021
Exelon, Others Allege That Texas PUC's Orders Setting Prices At $9,000 Exceeded Commission's Authority, Adopted Under "Unlawful" Process
Texas REP Says PUC Should Assign Any Market Uplift To Generators
Exelon Generation Company, LLC (Exelon) moved for rehearing of the Texas PUC's orders from February 15 and 16, 2021 which had the effect of setting ERCOT energy market prices at $9,000 per MWh during the winter weather event
March 12, 2021
Power Trader Says "Facts" Support Texas PUC's Prior Order That Retroactively Raised Prices To Cap For Operating Day February 15
Adam Sinn, of Aspire Power Ventures, LP, filed a letter with the Texas PUC stating that, "I believe that an objective review of the relevant facts supports the Commission’s February 15th Order that retroactively raised prices to the cap for operating day February 15 and maintaining those prices at…
March 12, 2021
Texas Gov. Says PUC Can't Re-price ERCOT Market; Only Legislature Can Provide Relief Sought By Lt. Gov.
In response to further calls from Lt. Gov. Dan Patrick that the Texas PUC should re-price the ERCOT market due to what Patrick says are "errors" in the pricing during the winter weather event, Texas Governor Greg Abbott said that the PUC is not able to provide Patrick's sought relief.
March 12, 2021
Texas Bill Would Cap Retail, Wholesale Electric Rates During Emergencies, Expand Disconnection Protections
SB 1690 has been filed in the Texas Senate which would, through amendments to PURA Chapter 36, cap retail and wholesale electric rates during declared emergencies, and also expand disconnection protections
March 12, 2021
Texas Retail Provider Acquires Book Of Customers From Energy Monger
Texas retail electric provider Energy Monger informed customers that their contracts are being transitioned to Ampra Energy.
March 12, 2021
CPS Energy Files Lawsuit Against ERCOT Over Prices
CPS Energy announced that it filed suit against the Electric Reliability Council of Texas (ERCOT) in Bexar County District Court in what CPS described as a move, "to protect its customers from excessive, illegitimate and illegal prices."
March 12, 2021
Updated: Securitization Under New Texas Bill Would Only Be Used For ERCOT Uplift
Slate Of Bills Includes Ban On Real-time Wholesale Pass-Through Retail Electric Products
March 12, 2021
Company Announces Divestment Of Texas Retail Energy Business
GridPlus announced that, "out of necessity, [we] have divested our retail energy subsidiary."
March 12, 2021
Texas PUC Extends Deadline To File Invoice, Settlement Disputes At ERCOT
The Texas PUC adopted an order which directs ERCOT to extend certain deadlines in, and grants an exception to, relevant sections of the ERCOT Nodal Protocols to grant more time for market participants to file a dispute of invoice and settlement statements
March 11, 2021
Texas PUC Chair: Re-Pricing Would "Bail Out" Retail Electric Providers, But Not Help Customers
IMM Revises Amount Of Alleged "Error" To Be $5.1 Billion (Takes Into Account Netting, Day-Ahead Positions)
March 11, 2021
Start-up Texas Retail Electric Provider Receives REP Certificate
The Public Utility Commission of Texas granted Yenta Energy LP d/b/a Clyde Energy an Option 1 Texas retail electric provider certificate
March 11, 2021
Texas PUC Chair: Weather Event An "Unusual Circumstance", But Not One For Which Legal Authority Exists For PUC To Re-price Market
During a hearing of the Texas Committee on Jurisprudence, Texas PUC Chairman Arthur C. D'Andrea agreed that the ERCOT weather event was an, "unusual circumstance," but maintained that continued pricing at the $9,000 cap after residential load shed ended was not a "mistake", and that a cited section…
March 11, 2021
Texas PUC Names Director Of ERCOT, Inc. Accountability; Also Announces Former ERCOT COO To Serve As Consultant
The Public Utility Commission of Texas today named Adrianne Brandt the agency’s new Director of ERCOT, Inc. Accountability and charged her with enhancing the PUC’s oversight of the grid operator and market manager.
March 11, 2021
Genie Energy Suspending Dividend Due To Impact From Texas Weather Event
Genie Energy Ltd. announced that it has suspended its dividend as part of an effort to rebuild its cash position in the aftermath of the Texas weather event
March 10, 2021
Texas PUC Staff Identify Review Of Retail Market Customer Protection Rules, With Emphasis On Disclosures & Potential Protections Specific To Emergency Conditions, As Part Of Several Focus Areas To Address In Response To Weather Event
Staff of the Texas PUC in a memo to the Commission identified eight "key focus areas" as a "road map" for Commission work in response to the February 2021 Winter Weather Event
March 10, 2021
Just Energy Announces Toronto Stock Exchange and New York Stock Exchange Have Commenced Delisting Proceedings
Just Energy Group Inc. ('Just Energy' or the 'Company') today announced that it has received notice from the Toronto Stock Exchange (the 'TSX') that a meeting of the Continued Listing Committee of the TSX is scheduled to be held on March 15, 2021 to consider whether or not to delist the securities…
March 10, 2021
Noting That Re-pricing Of ERCOT Market Appears To Be "Moving Forward", Tenaska Recommends "Partial Standstill" Directive To QSEs Concerning Payouts To QSE Customers, To Allow ERCOT To Retrieve Amounts Due To Any Re-pricing
Tenaska Energy, Inc. filed comments at the Texas PUC and to Chairman Arthur D'Andrea suggesting measures that the PUC could undertake to reduce certain risks associated with re-pricing, as Tenaska stated that, "We understand that repricing consistent with the Independent Market Monitor's…
March 10, 2021
Texas Bill Would Require Standard Application For Use By Customer Applying To Become Customer Of A Retail Provider
Various Bills Would Regulate REP Rates, Products
March 10, 2021
Shannon K. McClendon Elected To ERCOT Board Representing Independent REP Segment
Shannon K. McClendon has been elected to be the ERCOT Board member for the independent retail electric provider (REPs) segment.
March 10, 2021
Texas Retail Provider: "Volatile And Enormous" UFE Charges From ERCOT Related To Weather Event Could Spell "Life Or Death" For Market Participants
Texpo Power LP d/b/a Texpo Energy filed further comments at the Texas PUC concerning ERCOT invoices resulting from the recent weather event, drawing attention to, in particular, concerns about Unaccounted for Energy (UFE) calculations by ERCOT
March 10, 2021
Texas Governor Names ERCOT "Billing Error" Correction As Emergency Item For Legislative Session
28 State Senators Ask PUC To Correct Prices
Texas Governor Greg Abbott declared the, "correction of any billing errors related to the Electric Reliability Council of Texas (ERCOT)," as an emergency item for the 87th Legislative Session.