NOTICE DATE: May 12, 2022
NOTICE TYPE: M-B051222-01 Legal
SHORT DESCRIPTION: Filing in Public Utility Commission of Texas (PUC) Project No. 52709 Regarding ERCOT’s Six-Month Initial Interim True-Up Compliance Filing, Report of Recoveries, and Notice of Default Charge Adjustment Under Subchapter M of Chapter 39 of the Public Utility Regulatory Act (PURA)
INTENDED AUDIENCE: All Market Participants
DAYS AFFECTED: July 1, 2022 and thereafter
LONG DESCRIPTION: On May 12, 2022, ERCOT, as Servicer of the bonds issued under Subchapter M of Chapter 39 of PURA, filed the Six-Month Initial Interim True-Up Compliance Filing, Report of Recoveries, and Notice of Default Charge Adjustment in PUC Compliance Project No. 52709, Compliance Filing for Docket No. 52321 (Application of Electric Reliability Council of Texas, Inc. for a Debt Obligation Order Pursuant to Chapter 39, Subchapter M, of the Public Utility Regulatory Act). ERCOT's filing can be found at this link.
ERCOT’s filing includes calculations performed by ERCOT, as the Servicer of the bonds, that are required by the Debt Obligation Order (DOO) entered in PUC Docket No. 52321, Application of Electric Reliability Council of Texas, Inc. for a Debt Obligation Order Pursuant to Chapter 39, Subchapter M, of the Public Utility Regulatory Act. The filing includes, but is not limited to, the following information required under the DOO: (1) the collections of default charge revenues for the interim period, November 12, 2021 through April 30, 2022; (2) an estimate of the collections of default charge revenues for the remaining interim period, May 1 through June 30, 2022; (3) a net shortfall calculation that reflects an underestimation of closing costs in the amount of $195,000; (4) an updated periodic billing requirement for the succeeding interim period of July 1 through October 31, 2022; and (5) a calculation of the necessary adjustment to monthly default charges, taking into account the amounts previously described.
ADDITIONAL INFORMATION: Additional information regarding securitization can be found at this page on the ERCOT website.
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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