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NOTICE DATE: April 14, 2021

NOTICE TYPE: M-B041421-01 Settlements

SHORT DESCRIPTION: ERCOT's Planned Implementation of Default Uplift Invoice Process

INTENDED AUDIENCE: QSE and CRRAH Settlement and Credit Personnel

DAYS AFFECTED: April 14, 2021

LONG DESCRIPTION: On April 14, 2021, ERCOT filed a Notice of Planned Implementation of Default Invoice Process in Public Utility Commission of Texas (PUC) Project No. 51812, Issues Related to the State of Disaster for the February 2021 Winter Weather Event. ERCOT’s filing is intended to provide clarity on ERCOT’s understanding of the Protocols that control the Default Uplift Invoice process, and how ERCOT plans to implement the Default Uplift Invoice process. ERCOT is issuing this Market Notice to inform Market Participants of ERCOT’s filing prior to the April 15, 2021, Protocol Revision Subcommittee (PRS) meeting, wherein two Nodal Protocol Revision Requests (NPRRs) related to default uplift issues will be discussed.

In relevant part, ERCOT’s filing explains that:

In accordance with Protocol section 16.11.4.1, ERCOT will adjust the value of the Potential Uplift (PUL) component of Total Potential Exposure (TPE). PUL includes amounts expected to be uplifted within one year of the date of the calculation. Adjustments to PUL will be made subsequent to the monthly posting of reports providing Counter-Party detail on the components of Maximum MWh Activity (MMA), which will occur on April 26, 2021. Further, in accordance with its authority under Protocol Sections 16.11.7(2) and 16.11.4.1(3), ERCOT intends to adjust TPE for voluntarily terminating Market Participants with an accrued Default Uplift Ratio Share obligation to cover their payment obligations for Default Uplift Invoices.

For additional details concerning ERCOT’s planned implementation of the Default Uplift Invoice process, please see ERCOT's Notice of Planned Implementation of Default Invoice Process.

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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