NOTICE DATE: January 14, 2022
NOTICE TYPE: M-D011422-01 Settlements
SHORT DESCRIPTION: Reminder: Market Participants must remit payment for Securitization Default Charge miscellaneous Invoices to the correct bank account
INTENDED AUDIENCE: All Market Participants
DAYS AFFECTED: January 19, 2022
LONG DESCRIPTION: ERCOT posted the first miscellaneous Invoices for Securitization Default Charges, which are due by 1700 Central Prevailing Time (CPT) on January 19, 2022.
Per Protocol section 26.3.1.1, miscellaneous Invoices for Securitization Default Charges are distinct from other Invoices issued by ERCOT and must be paid into the specific bank account listed on the Securitization Default Charge miscellaneous Invoice.
ERCOT has received some payments this week for Securitization Default Charges that were sent to the wrong bank account. Market Participants are advised that Securitization Default Charge payments sent to the incorrect account will either be returned to the Market Participant or placed in the Market Participant’s collateral, and the Market Participant will be required to resend the Securitization Default Charge payment to the correct bank account.
Per Protocol section 26.3.1.1(4), failure of a Market Participant to remit payment for a Securitization Default Charge miscellaneous Invoice to the correct bank account by the Invoice due date and time may result in a Payment Breach.
The bank account information for Securitization Default Charge payments is as follows:
Subchapter M Invoice
Bank Name: JPMorgan Chase
Wire Routing Number: 021000021
Account Name: ERCOT SUBM
Account Number: xxxxx6916
ADDITIONAL INFORMATION: Further information regarding the banking instructions applicable to Securitization Default Charges is located in the MIS Secure Area under the "Requested Information" folder.
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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