NOTICE DATE: September 16, 2022

NOTICE TYPE: M-B090222-02 Legal

SHORT DESCRIPTION: ERCOT/Brazos proposed settlement virtual presentations scheduled for September 20, 2022, and September 21, 2022

INTENDED AUDIENCE: All Market Participants

DAYS AFFECTED: September 20, 2022, and September 21, 2022

LONG DESCRIPTION: On September 2, 2022, ERCOT issued Market Notice M-B090222-01 in order to advise Market Participants that Brazos Electric Power Cooperative, Inc. (“Brazos”) filed its Disclosure Statement for Plan of Reorganization of Brazos Electric Power Cooperative, Inc. (the “Disclosure Statement”) and Chapter 11 Plan of Reorganization of Brazos Electric Power Cooperative, Inc. (the “Plan”) on September 1, 2022, in the Brazos bankruptcy case.  The original Plan has been subsequently modified by Brazos.  On September 13, 2022, the Bankruptcy Court issued an Order Conditionally Approving the Adequacy of the Disclosure Statement.  ERCOT will now move forward with the Election Notice process for Eligible Market Participants, which will conclude on October 21, 2022.

As indicated in Market Notice M-B090222-01, ERCOT has not yet reached a final agreement on certain important provisions in the Plan.  ERCOT expects further modifications of the Plan as it continues ongoing discussions and negotiations with Brazos and other key stakeholders.  ERCOT has been coordinating with the Public Utility Commission of Texas (“PUCT”), through its attorneys at the Office of the Attorney General, on the proposed settlement and continued negotiations with Brazos.  On September 15, 2022, the PUCT submitted the attached letter of support to the ERCOT Board of Directors.  

In order to assist Eligible Market Participants in the Election Notice process, ERCOT will conduct two live virtual presentations to address the economic and non-economic terms of the proposed settlement between ERCOT and Brazos, which will be part of the Plan.  Due to the volume of anticipated attendees, ERCOT will not facilitate questions, commentary, or a chat feature during the presentations.  All virtual attendees will be restricted to a listening/viewing role only. 

Eligible Market Participants may submit questions regarding the Plan, Disclosure Statement, or Election Notice to MPElectionNotice@ercot.com.  During the virtual presentations, ERCOT will endeavor to address questions received in advance of the presentations.  The virtual presentations will be held on Tuesday, September 20, 2022, at 2:30 p.m. Central Standard Time (CST) and Wednesday, September 21, 2022, at 10:00 a.m. CST.  ERCOT is conducting two virtual presentations to maximize availability.  Both presentations will cover the same information.

ERCOT is also developing a webpage on the ERCOT.com website where it will post a recording of one of the virtual presentations, along with other important materials concerning the proposed ERCOT/Brazos settlement, including answers to questions sent before and after the presentations to MPElectionNotice@ercot.com.

VIRTUAL PRESENTATION INFORMATION

Tuesday, September 20, 2022, at 2:30 p.m. CST:

Webinar Link:

https://ercot.webex.com/ercot/onstage/g.php?MTID=e8721d54e5efe81b9705fd00633f2c919

Event Number: 2555 349 2065

Event Password: xaYzfpWQ383

Call-in toll-free number (US/Canada): 1-877-668-4493

Call-in toll number (US/Canada): 1-650-479-3208

Access code: 2555 349 2065

Wednesday, September 21, 2022, 10:00 a.m. CST:

Webinar Link:

https://ercot.webex.com/ercot/onstage/g.php?MTID=e215ec182446d61b2f12c6bf5a72f9d7d

Event Number: 2559 898 7518

Event Password: B8bvhgVaP62

Call-in toll-free number (US/Canada): 1-877-668-4493

Call-in toll number (US/Canada): 1-650-479-3208

Access code: 2559 898 7518

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 ClientServices@ercot.com.

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.

dg