NOTICE DATE: March 27, 2024
NOTICE TYPE: M-A032624-02 Settlements/Financial/Credit
SHORT DESCRIPTION: Notification of Miscellaneous Invoices for Interest Payments on Securitization Default Charge Escrow Deposits
INTENDED AUDIENCE: Counter-Parties
DAYS AFFECTED: March 27-28, 2024
LONG DESCRIPTION: In accordance with Protocol Section 26.5.3(1)(d), Means of Satisfying Securitization Default Charge Credit Requirements, ERCOT has issued Miscellaneous Invoices containing interest accrued on Escrow Deposits for the year 2023 for Counter-Parties (CPs) with Securitization Default Charge Escrow deposit posted with ERCOT.
Per the Default Property Servicing Agreement by and between ERCOT and Texas Electric Market Stabilization Funding M LLC, ERCOT will distribute the interest on March 28, 2024, in the following manner:
ERCOT will report interest payments on IRS Form 1099.
ERCOT invests Cash Escrow in accordance with the Texas Electric Market Stabilization Funding M LLC Trust Indenture.
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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