NOTICE DATE: March 4, 2021

NOTICE TYPE: M-A030421-01 CRR

SHORT DESCRIPTION:  Repossessed CRRs available in one-time auction

INTENDED AUDIENCE:  CRR Account Holders and Counter-Parties

DAYS AFFECTED:  March 4 – 12, 2021

LONG DESCRIPTION:  A Congestion Revenue Right (CRR) Account Holder’s awarded CRRs for April 2021 have been repossessed by ERCOT. Per Protocol Section 16.11.6.1.4(1), ERCOT is offering these repossessed CRRs, in their existing configuration, in a one-time auction for sale to the highest bidder.

CRR Account Holders that want to submit a bid for the repossessed CRRs shall do so in the following manner:

• Submit a single, positive bid that represents the price the CRR Account Holder is willing to pay for the entire portfolio of available CRRs (not for individual CRRs).
• The Authorized Representative of the CRR Account Holder must submit a bid to ERCOT via email by 17:00 Central Prevailing Time (CPT) on Monday, March 8, 2021. Please send the email bid to the below addresses, with the subject of “CRR One-Time Auction Bid – March 2021”.
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It is the responsibility of bidders to ensure that sufficient Available Credit Limit (ACL) is available to cover their bids prior to the one-time auction.

The highest bidder that meets creditworthiness requirements will be awarded the entire CRR portfolio. The ERCOT Credit Department will confirm the winner of the auction by 12:00 CPT on Tuesday, March 9, 2021. A miscellaneous Invoice will be sent to the winning CRR Account Holder, and payment for awarded CRRs will be due to ERCOT on March 12, 2021.

Per Protocol Section 7.5.5.3(4)(f), the CRRs may be placed in the account of the winning CRR Account Holder immediately upon determination of the winning bidder if the post-auction collateral requirement is satisfied and if ERCOT determines that the transfer is required to ensure the correctness of the inventory for any subsequent CRR Auction. Accordingly, the winning CRR Account Holder would be able to offer these CRRs into the 2021.APR.Monthly.Auction, which closes on March 11, 2021, if they choose to do so.

ADDITIONAL INFORMATION:  The available CRR portfolio is attached to this Market Notice.

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 a public 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.

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