May 10, 2021
Sole Proprietor Registers With Texas PUC As Broker With Trade Name Eagle Energy of Texas
Sole proprietor James Faris has registered with the Texas PUC as an electric broker with the trade name Eagle Energy of Texas
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May 10, 2021
Start-up Texas Broker Formed
Start-up Bongo Energy LP has registered with the Texas PUC as an electric broker
May 10, 2021
Update: Octopus Energy U.S. To Acquire Brilliant Energy Residential Customer Book
--- Octopus Notes Goal To Invest $100M In U.S. Energy Market, Targets 25 Million Accounts
Octopus Energy US formally announced that it has signed an agreement to acquire the residential customer book of Texas retail electric provider Brilliant Energy LLC, which had been exclusively first reported by EnergyChoiceMatters.com on May 5
May 7, 2021
NRG Reports Retail Customer Count, Sales & Revenue Data
NRG has filed a 10-Q for the period ending March 31, 2021 which provides various metrics on its retail business, including customer count
May 7, 2021
Texas House Approves Bill That Would Authorize PUC To Securitize ERCOT Default, Uplift Charges
The Texas House has passed HB 4492 which would create a mechanism for the Public Utility Commission of Texas to authorize the securitization of ERCOT market uplift charges related to the winter weather event
May 6, 2021
Texas PUC Approves Stipulation Under Which Utility Parent Will Sell Texas Retail Provider (Without Brand Name), Or Wind Down REP, As Part Of Settlement To Acquire Texas Utility
The Texas PUC today approved a unanimous stipulation that authorizes, subject to various conditions, the merger of the parent of Texas-New Mexico Power and Avangrid
May 6, 2021
Texas PUC Votes To Issue Proposal For Publication To Remove Fuel Index From ERCOT Low Offer Cap, Add New Make-Whole Provision
The Public Utility Commission of Texas today voted to issue a proposal for publication that would change the ERCOT scarcity pricing rule to eliminate the 50-times fuel index price provision in the ERCOT market low system-wide offer cap (LCAP), such that the LCAP would be $2,000 per MWh and $2,000…
May 6, 2021
ERCOT Reports Record Electric Demand Expected This Summer; Low Risk Of Emergency Conditions Based On Expected Generation Availability & Weather Conditions
ERCOT CDR Shows 2022 Reserve Margin Increasing To Nearly 29%; Exceeds 30% In Subsequent Years
The Electric Reliability Council of Texas (ERCOT) said today that it is anticipating record-breaking electric demand this summer due to expected hot and dry conditions and continued economic and population growth throughout the region.
May 6, 2021
Genie Energy Reports Negative Impact From Texas Winter Weather Event, Q1 Results
In reporting first quarter 2021 earnings, Genie Energy Ltd. reported a negative impact of approximately $13.0 million from the winter weather event in Texas
May 6, 2021
Update: Spark Reports Decrease In Customer Count
Earlier: Spark Energy Reports Negative Impact From Winter Storm Uri, First Quarter Results
In a 10-Q, Spark reported that its residential customer equivalents ("RCEs") as of March 31, 2021 was 367,000
May 6, 2021
Update: Spark Reports Decrease In Customer Count
Earlier: Spark Energy Reports Negative Impact From Winter Storm Uri, First Quarter Results
In a 10-Q, Spark reported that its residential customer equivalents ("RCEs") as of March 31, 2021 was 367,000
May 6, 2021
NRG Reports Nearly $1 Billion Negative Impact From Winter Storm Uri For Q1; Total Impact Will Be Lower Over Time
In reporting quarterly earnings, NRG Energy ("NRG" or "the Company") said that, during the quarter ended March 31, 2021, Winter Storm Uri's financial impact was a loss of $967 million.
May 5, 2021
Texas Business Customer Files Suit Against Large Retail Provider Alleging "Price Gouging"
--- Alleges "Duty" To Protect Customer Against "Foreseeable" Winter Weather Event Price Spike
The owner of a North Texas Harley-Davidson dealership has filed a lawsuit in Harris County, Texas, district court against Direct Energy Business, LLC and affiliates, alleging that, "Direct Energy price gouged AEHD when it excessively raised electricity prices," after the winter weather event in…
May 5, 2021
Another Texas Bill Requiring Default Auto-Renewal Product, Ban Of Wholesale Index Plans, Advances
A Texas Senate committee has reported favorably a substitute for SB 1279
May 5, 2021
Exelon Reports Higher Negative Impact From Texas Winter Weather Event, In Reporting Q1 Earnings
In reporting earnings today, Exelon reported a higher negative impact, versus a prior estimate, of the negative impact from the Texas winter weather event
May 5, 2021
Update: BP Energy Retail Seeks Texas REP Certificate
BP Energy Retail LLC has formally filed for an Option 1 Texas retail electric provider certificate
May 5, 2021
Texas Retail Electric Provider Acquires Another Customer Book
Texas retail electric provider JP Energy Resources LLC recently acquired a book of customers from Iluminar Energy LLC
May 5, 2021
Update: Court OKs Sale Of Brilliant Residential Customer Book To Octopus Energy
A bankruptcy court approved the sale of Brilliant Energy LLC's residential customer book and related assets to Evolve Retail Energy LLC d/b/a Octopus Energy US, as described in our prior story below
May 5, 2021
Update: Court OKs Sale Of Brilliant Residential Customer Book To Octopus Energy
A bankruptcy court approved the sale of Brilliant Energy LLC's residential customer book and related assets to Evolve Retail Energy LLC d/b/a Octopus Energy US, as described in our prior story below
May 4, 2021
Texas Senate Passes Resolution Urging Texas PUC To "Significantly Reduce" High System-Wide Offer Cap; Evaluate Changes To Market Structure
The Texas Senate has passed a resolution (S.R. No. 342) which, "urge[s] the Public Utility Commission of Texas to significantly reduce the high system-wide offer cap and evaluate changes to the market structure."
May 4, 2021
Vistra Reports Nearly Half a Billion Negative Impact To Retail Segment From Winter Storm Uri
Reports Marginal Decrease In Total Retail Customer Count During Q1
Vistra reported Q1 2021 earnings in a 10-Q filed today.
May 3, 2021
Texas Senate Passes New Disconnection Protections Applicable To Customers Of Retail Electric Providers
Bill Requires Customers To Have "Simple, Quick" Process For REP Complaints At Texas PUC
Last week, the Texas Senate passed SB 2194 which, among other things, includes new disconnection protections for customers of retail electric providers, including expansion of the conditions under which disconnections are prohibited, and other customer rights concerning the disconnection process and…
April 30, 2021
Texas Senate Passes Bill To Require Retail Electric Providers To Serve Auto-Renewed Customers On Mandated "Default" Product
The Texas Senate has passed an amended version of the House bill (HB 16), banning wholesale pass-through electric products, and the Senate version includes a new mandate that retail electric providers must serve customers, who do not make an affirmative choice at the time of renewal, under a…
April 30, 2021
Vistra "Absolutely" Interested In Opportunistic Retail Growth
Vistra Is Watching Market, Don't Be Surprised By Retail Acquisitions In Next Year Or Two
During a call earlier this week updating investors on the impact to Vistra from the ERCOT winter weather event (see story here) , Vistra's chief executive officer Curt Morgan said that the company is "absolutely" interested in opportunistic retail growth
April 29, 2021
Update: Proposed Language Filed By Texas PUC Staff To Remove Fuel Index From ERCOT Low Offer Cap, Add New Make-Whole Provision
Staff of the Texas PUC have filed proposed language for a scarcity pricing rule change to eliminate the 50-times fuel index price provision in the ERCOT market low system-wide offer cap (LCAP), such that the LCAP would be $2,000 per MWh and $2,000 per MW per hour