Update: Proposed Opt-Out Notice For Texas REPs To Send To Customers Under Uplift Securitization Financing Filed By Settling Parties

Settling parties in a Texas PUC proceeding concerning an "uplift" financing program as directed by HB 4492 have filed a proposed opt-out notice and form that REPs would be required to send to transmission-voltage customers to inform such customers of their right to opt-out of the securitization program

Transmission-voltage may opt out of paying the uplift charges by paying in full all invoices owed for usage during the period of emergency

Customers would be required to affirmatively opt-out by filing the form with the PUC, and also informing their REP of such election

REPs would be required to provide the opt-out notice to eligible customers within 15 days of a PUC final order in the proceeding

Customers would be provided 45 days to respond to the notice

The settling parties also filed an illustrative example of the previously reported mechanism (see details here) for the allocation of the $2.1 billion in securitization proceeds to LSEs, including the weighting favoring smaller, unaffiliated REPs, as part of their newly filed testimony. See the illustrative example in the testimony filed here

Docket 52322