ERCOT Reports Short Payment due to Late Payment by Milagro Power Company (QSE), PSEG Energy Resources and Trade

ERCOT issued a market notice on July 3 stating that Qualified Scheduling Entities (QSEs) and Congestion Revenue Right Account Holders (CRRAHs) that are owed monies from ERCOT on Settlement Invoices due for payout on July 3, 2013, will notice that the amount of funds transferred is short of the balance due on the Settlement Invoice.

Specifically, ERCOT said that, "[d]ue to the late payment from PSEG Energy Resources and Trade LLC, late payment from Milagro Power Company (QSE), and previous default of Abacus Resources Energy LLC (QSE), ERCOT has insufficient funds to pay all amounts in full. The total amount of the short payment is $127,391.25."

The amount short due to the late payment from Milagro Power Company (QSE) was $862.09, ERCOT said.

The amount short due to the late payment from PSEG Energy Resources and Trade LLC was $119,500, ERCOT said.

The previous default of Abacus Resources Energy is implicated because the invoice payouts include amounts related to an RTM Resettlement for February 2-3, 2011.

ERCOT said that it will follow the "short payment" procedure stated in Protocol Section 9.19, Partial Payments by Invoice Recipients, for payments being made to QSEs and CRRAHs.