PJM Files to Terminate Two Members for Default

PJM has submitted a filing at FERC to reflect the permanent termination of Bridge Energy Traders and JD Renewable Energy, L.L.C. as PJM members due to defaults.

"PJM's request to permanently terminate Bridge Energy as a PJM Member is the result of two default notifications issued to Bridge Energy for failing to make timely payments when due twice during a 12 month period," PJM said.

"In particular, Bridge Energy was declared in payment default on February 28, 2012, for failing to pay its February 1-15, 2012 month-to-date invoice in the amount of $90,486.38, when due, and again on July 17, 2012, for failing to make timely payment on its June monthly invoice in the amount of $144,998.54, when due. Bride Energy was notified of PJM's determination in this regard in correspondence dated September 10, 2012, and, in response, PJM was notified by Bridge Energy that it did not possess sufficient assets to satisfy its outstanding amounts and that it had ceased all business operations as of August 31, 2012," PJM said.

"PJM's determination to seek the permanent termination of JD Renewable as a PJM Member is the result of two default notifications issued to JD Renewable for failing to make timely payments when due twice during a 12 month period," PJM said.

"In particular, JD Renewable was declared in payment default on June 19, 2012, for failing to pay its May monthly invoice in the amount of $456.25, when due, and again on August 14, 2012, for failing to make timely payment of its July monthly invoice in the amount of $3,856.67, when due. JD Renewable was notified of PJM's determination in this regard through correspondence dated September 13, 2012, and, in response, PJM was notified that JD Renewable Energy, LLC no longer existed and that a termination of its PJM membership was preferred," PJM said