NOTICE DATE:  January 04, 2010
NOTICE TYPE:  M-A010411-01 Settlements
SHORT DESCRIPTION:  Zonal Invoices posted with irregular payment dates
INTENDED AUDIENCE:  QSE Settlement Personnel
DAY AFFECTED:  Invoices posted on December 27, 2010
LONG DESCRIPTION:  The Zonal Invoices posted on December 27, 2010, state that payments to ERCOT were due on Tuesday, January 4, 2011, and payments to Invoice recipients will be made on Wednesday, January 5, 2011.  In accordance with the Zonal Protocols, these invoices should have been due on Monday, January 3, 2011 with payment to invoice recipients on Tuesday, January 4, 2011.

Per Section 9.3 in the Zonal protocols "The payment date will be five (5) Bank Business Days after the Settlement Invoice date.  If the payment date does not fall on a Business Day, the Invoice will become due on the next Business Day."

When determining the due date, ERCOT incorrectly considered that while December 31, 2010, is a company holiday, it is still a Bank Business Day.

Note that ERCOT is processing payments associated with these invoices according to the dates posted on the invoices.  Since the issue was not discovered until December 30, 2011, ERCOT was concerned that QSEs would not have sufficient time to process their payments to meet the due date specified by Protocol.
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]<mailto:[log in to unmask]>.
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