In REP Revocation Settlements, Texas PUC Staff Not Seeking Administrative Penalties For Two REPs Which Experienced POLR Drops

Entrust Energy and Power of Texas Holdings, Inc. have each entered separate settlements with Staff of the Texas PUC, under which each REP would have its certificate revoked, to resolve alleged violations arising from each REP's default at ERCOT in the aftermath of winter storm Uri

While all of the REPs' residential customers, and most commercial customers, were acquired by Rhythm as previously reported, some commercial customers were dropped to POLR

As previously reported, both REPs filed Chapter 11 bankruptcy petitions

The settlements provide for the revocation of Entrust's and Power of Texas's REP certificates

Under the settlements, Commission Staff will not seek any administrative penalties from Entrust or Power of Texas for the matters addressed in the settlement agreements.