Settlements

Fri, Feb 19, 2021 12:44 PM

W-A021921-01 Short payment for failure to make Invoice payment by Market Participants


NOTICE DATE:  February 19, 2021

NOTICE TYPE:  W-A021921-01 Settlements

SHORT DESCRIPTION:  Short payment for failure to make Invoice payment by Market Participants

INTENDED AUDIENCE:  QSE and CRRAH settlement personnel

DAY AFFECTED:  Settlement Invoices due for payout on February 19, 2021

LONG DESCRIPTION:  Qualified Scheduling Entities (QSEs) and Congestion Revenue Right Account Holders (CRRAHs) that are owed monies from ERCOT on the Settlement Invoices due for payout on February 19, 2021, will notice that the amount of funds transferred is short of the balance payable on the Settlement Invoice. This Notice is intended to advise Market Participants that ERCOT will follow the short payment procedure in accordance with Protocol Section 9.19, Partial Payments by Invoice Recipients.

On February 18, 2021, the following Market Participants failed to make payment on a Settlement Invoice: GRIDDY ENERGY LLC 1 (QSE) and MQE LLC (QSE). ERCOT has insufficient funds from the Market Participants to pay the amounts owed.  ERCOT has initiated the process of drawing from available Financial Security provided by the Market Participants to pay Settlement Invoices as they become due. 

Per Protocol Section 9.19, ERCOT will deduct any applicable ERCOT Administrative fees, payments for Reliability-Must-Run (RMR) services, and the CRR Balancing Account from the amount received, and then reduce payments to all Invoice recipients that are owed monies. The reductions will be made on a pro rata basis of monies owed to each ERCOT creditor for this Invoice to the extent necessary to clear ERCOT's accounts on the payment date to ensure revenue neutrality for ERCOT.

Invoice Payout Date:   February 19, 2021
Operating Dates: DAM 02/12-2021 - 02/14/2021
  RTM Initial 02/11/2021
  RTM Final 12/23/2020
  RTM Trueup 08/20/2020
Total Amount Shortpay by Griddy Energy LLC $1,184,604.79
Total Amount Shortpay by MQE LLC $377,265.33
Total Amount Short to Market:     $1,561,870.12
Total Amount Paid Out to Market: $1,029,028,387.32

 

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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