Texas Takes Steps to Securitize Debt

June 21, 2021

The governor of Texas has signed into law HB 4492, which securitizes the $800 million in ERCOT Market Participant default and the extraordinary ancillary services pricing and the reliability deployment adder, which equates up to $2.1 billion. The bill seeks to allow electric companies, including retail electric providers, to finance up to $2.1 billion for electricity that companies paid for, but never received during winter storm Uri, in addition to charges from high wholesale power prices.

Read More:

https://www.houstonpublicmedia.org/articles/news/energy-environment/2021/06/01/399437/texas-legislature-approves-bills-to-require-power-plants-to-weatherize-among-other-measures-to-overhaul-electric-grid/

https://legiscan.com/TX/text/HB4492/id/2340253