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September 30, 2021
Lieutenant Governor of Texas Dan Patrick has written a letter to Texas PUC Commissioners opposing a partial settlement in a PUC proceeding concerning an "uplift" financing program as directed by HB 4492 due to the settlement not calculating cost exposure during the winter storm on a "net" basis
September 29, 2021
ERCOT filed with the Texas PUC a pleading to notify the Commission and the parties of potential issues that may impede ERCOT’s ability to calculate the amount of Uplift Balance bond proceeds due to Load-Serving Entities (LSE) under the methodology agreed to as part of the Docket No. 52322 partial…
September 27, 2021
Pogo Energy, LLC (Debor) filed a motion in its bankruptcy proceeding seeking a court order to compel mediation with Luminant Energy Company, its credit facility provider and QSE
September 27, 2021
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…
September 23, 2021
Proposes $4500 Cap For Comment
The Texas PUC will issue an accelerated proposed rulemaking to lower the high system-wide offer cap in ERCOT from the current $9,000 per MWh by January 1, 2022
September 23, 2021
ERCOT issued a market notice stating that, on September 22, 2021, ERCOT received Notification of Change of Generation Resource Designation forms (NCGRDs) for the following Generation Resources:
September 21, 2021
Includes Obligation To Pass-Through Proceeds To Affected Customers
Parties in a Texas proceeding concerning an "uplift" financing program as directed by HB 4492 have filed an unopposed settlement addressing certain issues, including the methodology and process for allocation of securitization proceeds to load serving entities
September 17, 2021
Staff of the Public Utility Commission of Texas filed a letter with the PUC, in a proceeding concerning an "uplift" financing program as directed by HB 4492, stating that, "This letter is to notify you that Commission Staff and the parties to the above-styled docket have either agreed in principle…
September 17, 2021
PJM issued a market notice on September 17 stating, "Please be advised that Powervine Energy, LLC and Great American Power, LLC defaulted on their obligations on September 15, 2021. Shortly after the payment was due, Powervine Energy, LLC and Great American Power, LLC remediated their defaults."
August 23, 2021
In rebuttal testimony, ERCOT rejected proposals from several retail electric providers to calculate charges to recover costs of the uplift financing program under HB 4492 on a $/MWh basis. ERCOT continues to propose to collect costs via a daily lump sum charged to LSEs based on the load ratio share…
August 19, 2021
In directing certain preliminary actions with respect to Docket 52322, which is addressing an "uplift" financing program as directed by HB 4492, the Texas PUC at its open meeting today did not rule on the question of whether netting shall be required under the program
August 16, 2021
Texas Lieutenant Governor Dan Patrick has written a letter to the Texas PUC Chair and Commissioners stating that the Texas Senate would not have passed a bill giving taxpayer dollars to companies that profited during the winter storm, and said that HB 4492 requires netting
August 13, 2021
Several Texas retail electric providers have opposed ERCOT's proposal for how ERCOT will calculate charges to recover costs of the uplift financing program under HB 4492. REPs also opposed additional security requirements proposed by ERCOT under the financing program
August 11, 2021
Twenty Texas State Senators, including Senators Charles Schwertner and Kelly Hancock, have filed a letter with the Texas PUC explaining their position that the legislative intent of HB 4492 is that netting is required in establishing proceeds to be provided to LSEs under the "uplift" financing…
August 9, 2021
The U.S. Court of Appeals for the D.C. Circuit has remanded to FERC a complaint concerning the results of the 2015 Midcontinent ISO capacity auction, finding that FERC's conclusion that the outcome of the auction was just and reasonable, because the auction complied with the applicable tariff…
August 5, 2021
Most Gentailers Oppose Netting; Independent REPs (& OPUC) Support Netting
Calpine Says Any Proceeds Should First Be Allocated To Any Customers Exposed To Such Prices (With Mandated Pass-Through), Regardless Of LSE's Position; With Proceeds To LSEs Themselves Relegated To Second Priority
August 3, 2021
Texas Representative Chris Paddie sent a letter to the Texas PUC stating his opinion that HB 4492 -- which creates a program to finance Reliability Deployment Price Adder ("RDPA") charges and Ancillary Service costs above the Commission's system-wide offer cap for the period beginning 12:01 a.m.…
July 21, 2021
The Texas PUC has issued a request seeking briefing on the treatment of offsets and affiliates in determining an entity's eligibility to seek compensation under the financing program established to compensate entities for costs above the system-wide offer cap during the relevant period of the winter…
July 19, 2021
Vistra today announced that it will close the Zimmer Power Plant in Moscow, Ohio, by mid-2022.
July 19, 2021
ERCOT Seeks Approval For Uplift, Default Balance Financing Orders
ERCOT has filed with the Texas PUC petitions for orders to finance the Winter Storm Uri Uplift Balance (Uplift proceeding) and the Default Balance (Default proceeding)
July 9, 2021
Several groups ranging from Public Citizen to R Street Institute and the Energy Choice Coalition have requested that U.S. congressional leaders direct the Government Accountability Office (GAO) or other independent organization, "to examine the cost and reliability impacts of wholesale markets."
July 7, 2021
During a hearing on first day motions in the bankruptcy proceeding of Pogo Energy, LLC, parties disclosed that Pogo owes $27 million to Luminant, Pogo's wholesale supplier and credit provider
July 6, 2021
Texas Governor Greg Abbott today sent a letter to members of the Public Utility Commission of Texas (PUC), "directing them to take immediate action to improve electric reliability across the state," the governor's office announced
June 29, 2021
Peoples Natural Gas Company LLC, a natural gas distribution utility serving western Pennsylvania, applied for FERC market-based rate authority for electricity sales
June 24, 2021
In comments to the Texas PUC in a proceeding on weatherization standards, Texas Competitive Power Advocates (TCPA) recommended that the PUC adopt a cost recovery mechanism, perhaps through a non-bypassable charge, for facilities subject to new weatherization mandates for whom cost-of-service…
