PUCT Staff Seeks Revocation of Saturn Power REP Certificate after June POLR Drop, Default

Staff of the Public Utility Commission of Texas have filed a petition to revoke the retail electric provider certificate of TexRep7, LLC d/b/a Saturn Power, LLC, after TexRep7 defaulted under its Standard Form Market Participant Agreement with ERCOT, which prompted a mass transition event.

Specifically, TexRep7 LLC defaulted under its Standard Form Market Participant Agreement with ERCOT as of 3:00 P.M. on June 14, 2012.

TexRep7 was serving only a single ESI ID at that time. ERCOT began the transition of the sole ESI ID to a Provider of Last Resort on June 15, 2012. The size of the associated load was approximately 0.039 MWhs per day.

In addition to the ERCOT default, Staff alleged that TexRep7's irrevocable stand-by letter of credit required under SUBST. R. 25.107(f)(2) expired on May 14, 2012, "leaving TexRep7 out of compliance with the Commission's customer protection rules," Staff alleged.