May 5, 2021
Texas Retail Electric Provider Acquires Another Customer Book
Texas retail electric provider JP Energy Resources LLC recently acquired a book of customers from Iluminar Energy LLC
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May 4, 2021
Texas Senate Passes Resolution Urging Texas PUC To "Significantly Reduce" High System-Wide Offer Cap; Evaluate Changes To Market Structure
The Texas Senate has passed a resolution (S.R. No. 342) which, "urge[s] the Public Utility Commission of Texas to significantly reduce the high system-wide offer cap and evaluate changes to the market structure."
May 4, 2021
Vistra Reports Nearly Half a Billion Negative Impact To Retail Segment From Winter Storm Uri
Reports Marginal Decrease In Total Retail Customer Count During Q1
Vistra reported Q1 2021 earnings in a 10-Q filed today.
April 30, 2021
Vistra "Absolutely" Interested In Opportunistic Retail Growth
Vistra Is Watching Market, Don't Be Surprised By Retail Acquisitions In Next Year Or Two
During a call earlier this week updating investors on the impact to Vistra from the ERCOT winter weather event (see story here) , Vistra's chief executive officer Curt Morgan said that the company is "absolutely" interested in opportunistic retail growth
April 29, 2021
Update: Proposed Language Filed By Texas PUC Staff To Remove Fuel Index From ERCOT Low Offer Cap, Add New Make-Whole Provision
Staff of the Texas PUC have filed proposed language for a scarcity pricing rule change to eliminate the 50-times fuel index price provision in the ERCOT market low system-wide offer cap (LCAP), such that the LCAP would be $2,000 per MWh and $2,000 per MW per hour
April 28, 2021
ERCOT Announces Implementation of Adjustments to the Potential Uplift (PUL) Component of Total Potential Exposure (TPE)
ERCOT in a market notice announced an adjustment to the Potential Uplift (PUL) Component of Total Potential Exposure (TPE)
April 27, 2021
ERCOT Board Announces Interim CEO
The ERCOT Board of Directors today announced the selection of Brad Jones to serve as interim President and CEO, effective May 4, 2021.
April 26, 2021
Updated With Reissued Retail Segment Guidance: Vistra Increases Estimate For Negative Financial Impact From Winter Storm Uri
Vistra provided some additional details in an investor call and presentation
April 23, 2021
Court Orders Liberty Power Corp. To Turn Over Books and Records To Bankrupt Liberty Power Holdings
A bankruptcy court has granted a motion, in its entirety, directing Liberty Power Corp. ('ParentCo' or 'LPC') to turn over all books, records, systems and processes of and related to the operation of Liberty Power Holdings (the 'Debtor' or 'Holdings'), which has filed for Ch. 11 bankruptcy…
April 22, 2021
Kinder Morgan Reports $1 Billion Positive Impact To Earnings From February Winter Storm
Kinder Morgan, Inc. reported a $1 billion positive impact to first quarter earnings from Winter Storm Uri
April 21, 2021
Just Energy Reports Higher Amount Due To ERCOT From Winter Weather Event Due To Resettlement Invoices
Just Energy Group Inc. ("Just Energy" or the "Company") announced today that the Company has received resettlement invoices from the Electricity Reliability Council of Texas ("ERCOT") for the week of February 15, 2021 in connection with the Texas extreme weather event in February (the “Weather Event…
April 21, 2021
Exelon Seeks Court Order Declaring Texas PUC's $9,000 ERCOT Pricing Orders Invalid
Pursuant to Texas Government Code §§ 2001.035(a) and 2001.038(a), Exelon Generation Company, LLC ('Exelon Generation') and Constellation NewEnergy, Inc. ('Constellation') (collectively, 'Plaintiffs' or 'Exelon') sought from Travis County, Texas district court a declaratory judgment invalidating what…
April 21, 2021
Updated: Liberty Power Holdings To Consider Sale Process As Part Of Debtor-In-Possession Financing
Liberty Power Holdings LLC ("Liberty" or the "Company") issued a statement concerning its filing of a voluntary petition for reorganization under Chapter 11, stating that it, "remains open and serving customers."
April 21, 2021
Updated: Liberty Power Holdings To Consider Sale Process As Part Of Debtor-In-Possession Financing
Liberty Power Holdings LLC ("Liberty" or the "Company") issued a statement concerning its filing of a voluntary petition for reorganization under Chapter 11, stating that it, "remains open and serving customers."
April 20, 2021
ERCOT Reports Internal Data Error May Have Impacted Real-Time Prices For Several Days In March (Includes Higher, Incorrect Offer Cap & Power Balance Penalty Curve Value)
ERCOT Won't Seek To Correct Prices; Says It Cannot Determine Accurate Prices Because Recalculation Would Require ERCOT To Make Significant Assumptions Concerning Operating Behavior Of Market Participants
April 19, 2021
ERCOT, Texas RE Announce Site Visits To Generation Resources To Verify Summer Readiness
ERCOT said in a market notice that representatives from ERCOT and Texas RE will perform site visits to evaluate summer weatherization preparations for select Generation Resources.
April 15, 2021
Storage Developer Urges Texas PUC To Study "Reliability Concerns" From Cryptocurrency Mining, Crowding Out Of "Physical" Solutions
HGP Storage (HGP) filed a pleading at the Texas PUC requesting that the PUC, "direct the Electric Reliability Council of Texas (ERCOT) to study the potential reliability concerns driven by large datacenters that mine cryptocurrencies."
April 14, 2021
ERCOT Board Approves Price Correction For Feb. 15 That Will Raise Price Adder By Up To $1,200 Per MWh
The ERCOT Board has approved ERCOT's request to correct prices for operating day February 15, 2021 due to what was termed a software error affecting the calculation of Real-Time On-Line Reliability Deployment Price Adders (RTORDPAs).
April 14, 2021
ERCOT Outlines How It Will Collect Nearly $3 Billion Short Paid To Market Via Uplift, Absent Legislative Or PUC Changes
The Electric Reliability Council of Texas, Inc. (ERCOT) filed with the Texas PUC a Notice of Planned Implementation of Default Uplift Invoice Process, "to provide clarity to the Commission and ERCOT Market Participants regarding ERCOT’s understanding of the ERCOT Protocols that control the Default…
April 14, 2021
ERCOT Reports Tight Grid Conditions Today, But No Conservation Appeal At This Time
ERCOT said today that it is expecting tight grid conditions again this afternoon but is not asking for energy conservation at this time (1:08 pm CT).
April 13, 2021
ERCOT Issues Conservation Plea But Thus Far Avoids EEA
ERCOT this afternoon issued a request for conservation for this late afternoon and evening, stating that, "Due to a combination of high generation outages typical in April and higher-than-forecasted demand from a stalled cold front over Texas, ERCOT may enter into emergency conditions this afternoon…
April 12, 2021
Texas Gov. Makes Another Appointment To Texas PUC, To Be Chair
During Confirmation Hearing, Earlier PUC Nominee McAdams "Agrees" Extended $9,000 Pricing Was Wrong
Texas Governor Greg Abbott has appointed Peter Lake to the Public Utility Commission of Texas (PUC) for a term set to expire September 1, 2023.
April 9, 2021
Texas Retail Electric Provider Acquires Book Of Customers
MQE, LLC d/b/a My Quest Energy informed the Texas PUC that it has transitioned its customers to JP Energy Resources, LLC d/b/a Ampra Energy.
April 8, 2021
Texas PUC, In Rule 11 Agreement, Says It Has Not Prejudged Or Made A Final Decision On Whether To Re-price ERCOT Market; Parties May Continue ERCOT ADR Process
The Public Utility Commission of Texas recently entered into a Rule 11 agreement with Luminant Energy Company LLC in which both parties agreed that, among other things, "The PUC has not prejudged or made a final decision on whether to reprice," the ERCOT market during any period of the recent…
April 7, 2021
Texas PUC To Remove Fuel Index From ERCOT Low Offer Cap, Will Wait On Potential Further Changes
During an open meeting today, Texas PUC Chairman Arthur C. D'Andrea directed Staff to propose for publication a rule change under which the "50 times FIP [fuel index price]" provision in the scarcity pricing rule would be eliminated