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5/20/22 3:01 PM

M-C052022-01 Estimated Cumulative Aggregate Short-Pay Amount Related to Winter Storm Uri and Notice of Anticipated Default Uplift Process

NOTICE DATE: May 20, 2022

NOTICE TYPE: M-C052022-01 - Settlements

SHORT DESCRIPTION: Estimated Cumulative Aggregate Short-Pay Amount Related to Winter Storm Uri and Notice of Anticipated Default Uplift Process

INTENDED AUDIENCE: Market Participants

DAYS AFFECTED: May 20, 2022

LONG DESCRIPTION: Electric Reliability Council of Texas, Inc. (ERCOT) provides the following update to keep Market Participants apprised of the latest short-pay amounts related to Winter Storm Uri.  The current estimated aggregate short-paid amount to ERCOT is $2,303,049,656.89.

The table below reflects current short-pays by short-paying Counter-Party for both the Period of Emergency and outside the Period of Emergency (i.e. the Non-Period of Emergency).  As defined in Public Utility Regulatory Act (PURA) §§ 39.602(4) and 39.652(3) and the Public Utility Commission of Texas’s (PUCT’s) Debt Obligation Orders filed on October 13 and 14, 2021 in PUC Dockets Nos.  52321 and 52322, the Period of Emergency extended from 12:01 a.m. on February 12, 2021 to 11:59 p.m. on February 20, 2021.

The balances in the table do not include outstanding Wide Area Network (WAN) Invoices nor short-paid CRR Auction Revenue Distribution (CARD) Invoices because these amounts are not subject to the Default Uplift process in the ERCOT Protocols.  Where applicable, balances are net of proceeds received to date from the liquidation of standby letters of credit posted in accordance with PUCT Substantive Rule §25.107(f)(B).  Such proceeds were applied first to outstanding Non-Period of Emergency short-pays and then to Period of Emergency balances.

The table below provides additional information that was used in reconciling the outstanding Period of Emergency short-pays summarized above.  Columns labeled A and B reflect the disbursement of proceeds that were financed through the Texas Comptroller under PURA Chapter 39, Subchapter M.  Column A reflects the Congestion Revenue Right (CRR) replenishment attributed to these defaulting Market Participants.  Column B reflects the amounts paid to short-paid Market Participants attributed to these defaulting Market Participants.  The Column labeled C provides the totals of Columns A and B.  Column F shows the outstanding short-pays for the Period of Emergency; this Column is the product of subtracting any amounts from Columns D (received credits from other Market Participant payments) and E (received funds from letters of credit) from the total in Column C.  Please see further below for a brief explanation related to Volt Electricity Provider LP (Volt).    

MP Name

 Applied Payment from Subchapter M to $800M CRR

(A)

 Applied Payment from Subchapter M to Outstanding Invoices

(B)

 Total Payments from Subchapter M

(A+B=C)

 Credits from Other MP Payments

(D)

 Period of Emergency Payments from Letters of Credit

(E)

 Owed Period of Emergency Amounts

(C-D-E=F)

EAGLES VIEW PARTNERS LTD

                              704,555.46

           447,465.36

        1,152,020.82

                            -  

                       -  

        1,152,020.82

ENERGY MONGER LLC

                           3,308,237.33

        5,469,590.74

        8,777,828.07

                   374.51

       440,643.34

        8,336,810.22

ENTRUST ENERGY INC

                      127,302,828.90

   167,375,377.99

   294,678,206.89

             15,143.78

                       -  

   294,663,063.11

GBPOWER LLC

                           8,113,093.10

      12,101,232.11

      20,214,325.21

                   839.04

       453,902.17

      19,759,584.00

GRIDDY ENERGY LLC 1

                        14,030,644.24

      15,787,967.76

      29,818,612.00

                8,324.26

                       -  

      29,810,287.74

GRIDPLUS TEXAS INC

                                               -  

        1,440,976.01

        1,440,976.01

                   714.98

       495,358.33

           944,902.70

ILUMINAR ENERGY LLC

                           8,529,779.94

      33,303,016.22

      41,832,796.16

                4,217.98

       219,389.51

      41,609,188.67

MQE LLC

                           3,615,406.67

        9,943,179.81

      13,558,586.48

                1,176.72

       419,526.01

      13,137,883.75

POWER OF TEXAS HOLDINGS INC VIRTUAL

                                               -  

                            -  

                            -  

                            -  

                       -  

                            -  

VOLT ELECTRICITY PROVIDER LP

                                               -  

        5,861,452.41

        5,861,452.41

3,090.77

         53,296.05

        5,805,065.59

Totals

                      165,604,545.64

   251,730,258.41

   417,334,804.05

             33,882.04

   2,082,115.41

   415,218,806.60

 

ERCOT expects that the remaining outstanding $1,235,113.21 in Non-Period of Emergency short-pays will be uplifted to Market Participants in accordance with Protocol Section 9.19.1, Default Uplift Invoices. The issuance date for Default Uplift Invoices has not been determined. However, ERCOT anticipates that the process will begin very soon and will communicate the date to Market Participants in a Market Notice to provide advance notice of the Default Uplift Invoices.

Additionally, below is the breakdown of the Non-Period of Emergency short-pay amounts, by Invoice due date. The short-pay amounts owed by Brazos Electric Power Cooperative, Inc. are separately provided for transparency.

Invoice Due Date

 Non- Period of Emergency 

 Brazos 

2/25/2021

               406,745.09

   1,586,667,537.54

2/26/2021

               136,043.36

       221,656,044.96

3/1/2021

                 57,783.88

                                 -  

3/2/2021

                                 -  

                    1,160.94

3/3/2021

                 78,983.89

                                 -  

3/4/2021

               135,927.12

                                 -  

3/5/2021

               107,556.89

                                 -  

3/8/2021

                 10,722.14

         47,316,895.06

3/9/2021

                    6,658.08

                                 -  

3/10/2021

               123,622.81

           7,255,206.29

3/11/2021

                            6.40

                                 -  

3/12/2021

                            1.61

                    8,491.98

3/15/2021

                            2.84

                 11,785.97

3/16/2021

                            2.23

           1,752,267.93

3/17/2021

                            6.88

                 28,775.31

3/18/2021

                                 -  

                 24,135.54

3/19/2021

                                 -  

                       561.47

3/26/2021

                                 -  

                    8,042.13

3/29/2021

                                 -  

                    4,112.64

3/30/2021

                                 -  

                       402.74

3/31/2021

                                 -  

                    3,687.27

4/1/2021

                                 -  

21,851.07

4/6/2021

                                 -  

10,434.27

4/7/2021

                                 -  

109,503.58

4/8/2021

                                 -  

563,012.41

4/9/2021

                                 -  

5,068.67

4/12/2021

                                 -  

5,729.67

4/13/2021

                                 -  

30,305.03

4/14/2021

                       212.91

10,695,193.39

4/15/2021

                          56.06

                                 -  

4/16/2021

                          26.60

997,329.4

4/19/2021

                          16.61

644,057.48

4/20/2021

                          49.39

61,633.64

4/21/2021

               160,231.16

876,811.68

4/22/2021

                    3,483.58

703,029.06

4/23/2021

                    2,475.12

                                 -  

4/26/2021

                       916.06

                                 -  

4/27/2021

                          35.98

                                 -  

4/28/2021

                          18.46

2,987.3

4/29/2021

                                 -  

67.18

4/30/2021

                                 -  

1.83

5/5/2021

                                 -  

95.1

5/7/2021

                                 -  

7.91

5/10/2021

                                 -  

116.01

5/11/2021

                                 -  

118.78

5/20/2021

                                 -  

36.56

6/3/2021

                                 -  

349.63

6/7/2021

                                 -  

844.75

6/9/2021

                                 -  

41.44

6/11/2021

                                 -  

41.8

6/14/2021

                                 -  

96.39

6/15/2021

                                 -  

123.01

6/16/2021

                                 -  

257.14

6/17/2021

                                 -  

115.28

6/21/2021

                                 -  

51.78

6/22/2021

                                 -  

76.2

6/25/2021

                                 -  

104.94

6/29/2021

                                 -  

74.59

6/30/2021

                                 -  

136.82

7/6/2021

                                 -  

204.24

7/8/2021

                                 -  

346.68

7/9/2021

                                 -  

31.96

7/12/2021

                                 -  

35.11

7/13/2021

                                 -  

4.67

7/14/2021

                                 -  

9047.5

7/15/2021

                                 -  

3,361.44

7/16/2021

                                 -  

4,028.26

7/19/2021

                       172.52

6,230.47

7/20/2021

                       110.02

4,208.57

7/21/2021

                       280.42

58.9

7/22/2021

                       116.99

5,420.28

7/23/2021

                          66.26

3,187.47

7/26/2021

                          66.51

3,337.34

7/27/2021

                          70.83

3,076.86

7/28/2021

                       239.98

10,546.77

7/29/2021

                          32.10

5,378,052.2

7/30/2021

                          47.97

137.56

8/2/2021

                          33.58

329.84

8/3/2021

                          43.95

103.66

8/4/2021

                       308.91

                                 -  

8/5/2021

                       425.57

                                 -  

8/6/2021

                       418.30

                                 -  

8/9/2021

                          48.59

6.34

8/10/2021

                          35.23

                                 -  

8/11/2021

                          20.04

2,821.46

8/12/2021

                       704.79

                                 -  

8/17/2021

                                 -  

369,322.39

8/18/2021

                                 -  

1,282,371.06

8/19/2021

                                 -  

2,008.34

8/20/2021

                                 -  

2,550.21

8/23/2021

                                 -  

35,632.29

8/24/2021

                       152.32

69.08

8/25/2021

                          80.32

371.45

8/26/2021

                          14.67

                                 -  

8/27/2021

                          27.07

                                 -  

8/30/2021

                            7.99

20.86

8/31/2021

                            3.13

2.26

Total

           1,235,113.21

   1,886,595,737.08

 

ERCOT anticipates receiving letters of credit from the PUCT that will fully cover the outstanding amounts from Volt and is therefore deferring to address any possible difference in a future Default Uplift if necessary. Below are the total outstanding amounts owed by Volt:

Counter-Party

 Non-Period of Emergency 

 03/10 Misc. Invoice 

 Total Amount Owed 

 

  
   

VOLT ELECTRICITY PROVIDER LP (CP)

19,467.97

427,235.98

446,703.95

    

 

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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dg