Texas Statutes
Subchapter M. Winter Storm Uri Default Balance Financing
Section 39.602. Definitions

Sec. 39.602. DEFINITIONS. In this subchapter:
(1) "Default balance" means an amount of money of not more than $800 million that includes only:
(A) amounts owed to the independent organization by competitive wholesale market participants from the period of emergency that otherwise would be or have been uplifted to other wholesale market participants;
(B) financial revenue auction receipts used by the independent organization to temporarily reduce amounts short-paid to wholesale market participants related to the period of emergency; and
(C) reasonable costs incurred by a state agency or the independent organization to implement a debt obligation order under Sections 39.603 and 39.604, including the cost of retiring or refunding existing debt.
(2) "Default charges" means charges assessed to wholesale market participants to repay amounts financed under this subchapter to pay the default balance.
(3) "Independent organization" means the independent organization certified under Section 39.151 for the ERCOT power region.
(4) "Period of emergency" means the period beginning 12:01 a.m., February 12, 2021, and ending 11:59 p.m., February 20, 2021.
Added by Acts 2021, 87th Leg., R.S., Ch. 908 (H.B. 4492), Sec. 5, eff. June 16, 2021.

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