PJM Files to Reflect Permanent Termination of Member

PJM Interconnection, L.L.C. has filed at FERC to reflect the permanent termination of Blast Electric, L.L.C. as a PJM Member in accordance with Sections 15.1.6(c) and 4.1(c) of the Operating Agreement.

PJM said that, "PJM's determination to seek the permanent termination of Blast as a PJM Member is the result of two default notifications issued to Blast for failing to make timely payments when due twice during a 12 month period. In particular, Blast was declared in payment default on January 29, 2013, for failing to pay its January 16, 2013 month-to-date invoice in the amount of $17,344.94 when due, and again on February 5, 2013, for failing to make timely payment of its January 23, 2013 month-to-date invoice in the amount of $54,111.67, when due. Subsequent defaults arising from Blast's failure to pay its January 30, 2013 month-to-date invoice in the amount of $420,080.43, and its January monthly invoice in the amount of $5,857.31 were declared, respectively, on February 12, 2013 and February 20, 2013."

"Blast was notified of PJM's determination in this regard through correspondence dated March 6, 2013. Blast's rights to conduct market transactions were suspended as of January 29, 2012, in accordance with the applicable provisions of the Operating Agreement," PJM said.