NOTICE DATE: December 19, 2023
NOTICE TYPE: M-B121923-01 General
SHORT DESCRIPTION: ERCOT has received the first annual installment payment from Brazos Electric Power Cooperative, Inc. (Brazos), and is posting Miscellaneous Invoices and preparing to distribute the annual installment payment
INTENDED AUDIENCE: All Market Participants
DAYS AFFECTED: December 15,19, and 20, 2023
LONG DESCRIPTION: On December 15, 2023, ERCOT received the first annual installment payment in the amount of $13,892,980.30 from Brazos Electric Power Cooperative, Inc. (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 Hearing.
As previously discussed in a letter to the Public Utility Commission of Texas (PUCT), dated November 2, 2022, and in a presentation given to the PUCT at an open meeting held on November 3, 2022, the funds received in the first annual payment are to begin paying eligible Market Participants for their allocable portion of the Brazos Short Pay Claim.
ERCOT is posting Miscellaneous Invoices today, December 19, 2023. ERCOT plans to distribute the first Annual Installment Payments to Invoice Recipients on December 20, 2023.
Payments to Eligible Market Participants will be as reflected in column “Annual Installment Payment Year 1” 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 certified area of the Market Information System (MIS) website.
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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