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Subchapter N Uplift Balance Securitization

In October 2021, the Public Utility Commission of Texas authorized ERCOT to finance an “uplift balance,” which is an amount not greater than $2.1 billion for certain extraordinary costs incurred by Load Serving Entities (LSEs) related to Winter Storm Uri. The PUCT authorized ERCOT to assess a daily “uplift charge” on QSEs that represent LSEs that are not opted out of the uplift charge to repay the uplift balance and costs associated with implementing the debt obligation order.

The Subchapter N Uplift Balance Securitization financing is targeted to close in mid-2022, with the distribution of proceeds and uplift charge collection to follow shortly thereafter.

Docket 52322
Application of the Electric Reliability Council of Texas, Inc. for a Debt Obligation Order under PURA Chapter 39, Subchapter N and for a Good Cause Exception
Docket 52364
Proceeding for Eligible Entities to File an Opt Out pursuant to PURA § 39.653(d) and for Load Serving Entities to File Documentation of Exposure to Costs Pursuant to the Debt Obligation Order in Docket No. 52322
Docket 52710
Compliance Filing for Docket No. 52322 (Application of the Electric Reliability Council of Texas, Inc. for a Debt Obligation Order Pursuant to Chapter 39, Subchapter N of the Public Utility Regulatory Act)
NPRR1114
Securitization – PURA Subchapter N Uplift Charges
NPRR1123
Clarifications for Securitization Uplift Charges