The Texas network operator held talks with financial institutions, including Goldman Sachs Group Inc., about possible financing options to resolve a deficit of more than $ 3 billion in electricity payments, as some market participants are hesitant to pay. your part, according to people familiar with the matter.
The Texas Electric Reliability Council held preliminary discussions with investment bankers at Goldman Sachs about measures, such as a potential credit line, that would cover amounts that electricity buyers did not pay after last month’s energy crisis, these people said.
Ercot, which acts as a payment clearinghouse for electricity buyers and sellers, issued large electricity bills when the winter freeze swept the state, driving up energy prices. Some municipal utilities, electricity cooperatives and electricity retailers have contested the accounts, while others have declared bankruptcy or have signaled that they can seek judicial protection.
Ercot said on Thursday that mandatory payments were almost $ 3.1 billion missing, having previously said that $ 2.1 billion was missing. On Friday, public energy utility CPS Energy of San Antonio filed a lawsuit against Ercot, seeking to prevent the network operator from trying to recover from CPS the costs that other energy retailers have not paid.
Ercot let energy prices skyrocket when last month’s winter storm swept through Texas, when demand for electricity increased and some power generators were unable to function due to shortages of fuel and frozen equipment.