Legal Notifications; Operations; Settlements

Fri, Feb 19, 2021 02:37 PM

M-B021921-01 Collateral Adjustments and Invoice Payments


NOTICE DATE: February 19, 2021

NOTICE TYPE: M-B021921-01 Financial/Credit

SHORT DESCRIPTION: Collateral Adjustments and Invoice Payments

INTENDED AUDIENCE: All Market Participants

DAYS AFFECTED: February 19, 2021 until further notice

LONG DESCRIPTION: In an attempt to protect the overall integrity of the ERCOT market by mitigating the disruption of defaults, ERCOT is using its available discretion under the Protocols to adjust collateral for Counter-Parties (CPs) on a case-by-case basis, dependent upon the CP’s activity in and risk to the market. ERCOT encourages CPs and their represented entities (e.g., Resource Entities; Load Serving Entities) to work through available financial or business transition options during this time. 

In addition, ERCOT encourages Qualified Scheduling Entities (QSEs) to contact ERCOTCredit@ercot.com in advance of an Invoice payment due if they believe they may be unable to pay the Invoice in part or in full. This will allow ERCOT to prepare to use available collateral to cover any shortfall. 
 
ADDITIONAL INFORMATION:  CPs may contact ERCOTCredit@ercot.com for specific collateral information and options related to their market activity. QSEs may also contact ERCOTCredit@ercot.com regarding Invoice payments.
 

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.

If you are receiving email from a public ERCOT distribution list that you no longer wish to receive, please follow this link in order to unsubscribe from this list: http://lists.ercot.com.

 

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