Energy Marketer Defaults At PJM

PJM in a market notice stated, "Please be advised that Hill Energy Resource & Services, LLC (the 'Defaulting Member') defaulted on its obligations to comply with a Collateral Call under PJM’s credit policies on January 11, 2022."

"Pursuant to the provisions of the Operating Agreement (OA), section 15.1.5, PJM is obligated to notify the Members of the default. In accordance with OA Schedule 1, section 7.3.9, PJM will provide further notification to the PJM Members of PJM’s approach it determines to be appropriate to resolve Financial Transmission Rights positions held by the Defaulting Member prior to implementing that approach," PJM stated in the market notice