****************************************************************************************** EXTERNAL email. Please be cautious and evaluate before you click on links, open attachments, or provide credentials ******************************************************************************************

NOTICE DATE:  April 30, 2014

NOTICE TYPE:  M-A031414-02 Legal Notification

SHORT DESCRIPTION:  Reminder Counter-Party annual audited financial statements and risk certification due by April 30, 2014

INTENDED AUDIENCE:  Counter-Party Financial and Risk Personnel

DAY AFFECTED:  April 30, 2014

LONG DESCRIPTION:  ERCOT Protocols Section 16.11.5 requires all Counter-Parties to provide their own or their Guarantor’s (1) quarterly unaudited financial statements (semi-annually, if the Guarantor is foreign and rated by a rating agency acceptable to ERCOT) not later than sixty (60) days (ninety (90) days if the Guarantor is foreign and rated by a rating agency acceptable to ERCOT) after the close of each of the issuer’s fiscal quarters and (2) annual audited financial statements not later than 120 days after the close of the issuer’s fiscal year. 

In addition, ERCOT Protocols Section 16.16.2 (2) requires all Counter-Parties to submit to ERCOT annually a notarized certificate signed by an officer or executive with authority to bind the Counter-Party on the form of Section 22, Attachment J, Annual Certification Form to meet ERCOT Additional Minimum Participation Requirements (Certification Form). 

Counter-Parties/Guarantors whose fiscal year ended on December 31, 2013 must submit annual audited financial statements and the Certification Form by April 30, 2014.

ACTION REQUIRED: Counter-Parties or their Guarantors whose annual audited financial statements and Certification Form for fiscal year 2013 are due should provide these documents to ERCOT as soon as possible to avoid any remedial action as authorized under the Standard Form Market Participant (MP) Agreement, the ERCOT Protocols and/or the Public Utility Regulatory Act (PURA).

Counter-Party’s or Guarantor’s financial statements that are publicly available electronically need not be provided to ERCOT. 

Please forward financial statements to [log in to unmask] or

ERCOT

7620 Metro Center Dr.

Attn:  Vanessa Spells

Austin, TX 78744

Phone: (512) 225-7014

Please forward Annual Risk Certification document to [log in to unmask] and mail the original document to:

ERCOT

7620 Metro Center Dr.

Attn:  Mark Ruane

Austin, TX 78744

Phone: (512) 225-7094

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].

If you are receiving email from an ERCOT distribution list that you no longer wish to receive, please follow this link in order to unsubscribe from this list:  http://lists.ercot.com.

 

 

 

mm