NOTICE DATE: June 23, 2023
NOTICE TYPE: M-B062323-01 Settlements
SHORT DESCRIPTION: Following the sale of the Brazos Electric Power Cooperative, Inc. (Brazos) Generation Assets [1], ERCOT is posting Miscellaneous Invoices and preparing to distribute Generation Asset Sale Payments.
INTENDED AUDIENCE: All Market Participants
DAYS AFFECTED: June 22, 23, and 26, 2023
LONG DESCRIPTION: Yesterday, June 22, 2023, following the closing of the sale of the Brazos Generation Assets, ERCOT received payment in the amount of $116.1 million from Brazos under the court-approved Amended Chapter 11 Plan of Reorganization, dated October 27, 2022 (the Plan). The Plan includes the terms of the ERCOT settlement that resolved the Brazos Adversary Proceeding.
As previously discussed in a letter to the Public Utility Commission of Texas (PUCT), dated November 2, 2022, and in a presentation given at the November 3, 2022 PUCT Open Meeting, the funds received in connection with the sale of the Brazos Generation Assets are owed to Eligible Market Participants that selected payment options that include Generation Asset Sale Payments.
ERCOT is posting Miscellaneous Invoices today, June 23, 2023. ERCOT plans to distribute Generation Asset Sale Payments to Invoice Recipients on June 26, 2023.
Payments to Eligible Market Participants will be as reflected in column “Generation Asset Sale Payment” of Exhibit 10 to the Declaration of Sean Taylor in Support of ERCOT Settlement, the ERCOT Recovery Appendix, filed with the presiding federal bankruptcy court on November 10, 2022. The declaration, including the ERCOT Recovery Appendix, is also available under “Key Documents” in the Proposed Brazos and ERCOT Bankruptcy Settlement section of the ERCOT.com website at https://www.ercot.com/about/legal/brazos.
ADDITIONAL INFORMATION: The Miscellaneous Invoices (EMIL ID COMS-746-SG, Report ID 11100) are available on the Market Information System (MIS) Certified Area.
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 [log in to unmask].
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[1] All capitalized terms not defined herein have the meaning ascribed to them in the Plan and/or ERCOT Protocols.
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