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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 closed on 06/15/2022.

Texas Electric Market Stabilization Funding N LLC (TEMSFN) is the issuing entity for the Subchapter N bonds (i.e., the “Texas Stabilization N Bonds”). TEMSFN is a limited liability company registered in Delaware and its sole member is ERCOT. TEMSFN has no commercial operations. Please see the “Key Documents” section for further information regarding TEMSFN.

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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)
List of ESI IDs Which Are Transmission-Voltage Customer Opt-Outs
List of ESI IDs associated with a transmission-voltage Customer that is a Securitization N Uplift Charge Opt-Out Entity.
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