Credit; CRR; Settlements

Thu, Sep 09, 2021 04:18 PM

W-B090921-01 Notification of Miscellaneous Invoices to distribute recovered amounts from Sparcnet LLC


NOTICE DATE: September 9, 2021

NOTICE TYPE:  W-B090921-01 - Settlements

SHORT DESCRIPTION:  Notification of Miscellaneous Invoices to distribute recovered amounts from Sparcnet LLC

INTENDED AUDIENCE:  QSE and CRRAH Settlement Personnel

DAYS AFFECTED:  September 10, 2021

LONG DESCRIPTION:  As described in Market Notice W-A091219-02, Sparcnet LLC (Sparcnet) defaulted under the ERCOT Protocols, and on April 8, 2020, Default Uplift Invoices were issued to Qualified Scheduling Entities (QSEs) and Congestion Revenue Right Account Holders (CRRAHs) in accordance with Protocol Section 9.19.

In connection with In re: Sparcnet LLC, Case No. 21-80103, in the United States Bankruptcy Court for the Northern District of Alabama, Northern Division (the “Sparcnet Bankruptcy Matter”), ERCOT filed a proof of claim and subsequently received payment in the amount of $7,575.14 from the estate. Accordingly, ERCOT is issuing Miscellaneous Invoices to reimburse QSEs and CRRAHs for their shares of the recovered amount ($7,575.14) from the Sparcnet Bankruptcy Matter.  Distribution is based on the same allocation used for the Default Uplift Invoices that were issued on April 8, 2020. 

Payouts will be made to Invoice Recipients on September 10, 2021.

ADDITIONAL INFORMATION:  The Miscellaneous Invoices can be found on the Market Information System (MIS).

Please review the ERCOT website for previous Market Notices related to this subject.

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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