NOTICE DATE: May 20, 2020
NOTICE TYPE: M-A052020-01 Settlement and Credit
SHORT DESCRIPTION: ERCOT Market Payment Processes Update
INTENDED AUDIENCE: Counter-Parties, Qualified Scheduling Entities, Congestion Revenue Right Account Holders, and Credit
DAYS AFFECTED: May 27, 2020 and June 1, 2020
LONG DESCRIPTION: On June 1, 2020, ERCOT will be eliminating the ability for Counter-Parties (CPs) to maintain funds in prepay accounts (Flexible Accounts), and will begin processing invoices that would have been processed from prepay funds with Cash Collateral. Any funds remaining in a CP’s prepay account on June 1, 2020, will be transferred to the CP’s Cash Collateral account. If a CP would prefer ERCOT to return prepay funds to the CP prior to June 1, 2020, the CP’s Authorized Representative or Credit Contact must submit an email requesting the return of prepay funds to ERCOT Credit at ERCOTCredit@ercot.com by 5:00 PM Central Prevailing Time (CPT) on Wednesday, May 27, 2020.
On February 28, 2020, ERCOT hosted a workshop concerning Market payment processes. ERCOT has posted responses to several questions that arose out of that workshop, which may be found on the workshop’s meeting page.
ERCOT will also be sponsoring a Nodal Protocol Revision Request (NPRR) to remove grey-box language remaining from NPRR702, Flexible Accounts, Payment of Invoices, and Disposition of Interest on Cash Collateral.
CONTACT: If you have any questions, please contact your ERCOT Account Manager. You may also call the general ERCOT Client Services phone number at (512) 248-3900 or contact ERCOT Client Services via email at ClientServices@ercot.com.
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