NEWS
Sure Electric files for bankruptcy
10:29 PM CDT on Thursday, June 5, 2008
By ELIZABETH SOUDER / The Dallas Morning By ELIZABETH SOUDER
esouder@dallasnews.com
By ELIZABETH SOUDER
esouder@dallasnews.com
Another day, another retail electricity provider bites the dust.
On Tuesday, Sure Electric LLC, also known as Riverway Power Co., filed for bankruptcy. The company also filed an emergency motion with the court on Thursday asking permission to terminate some retail electricity contracts that aren't making money.
Company representatives didn't return phone calls.
Three other electricity retailers have stopped serving customers in as many weeks, unable to make ends meet as wholesale power prices spike.
Sure Electric, a Houston retailer, said in Thursday's motion that it serves around 6,500 retail customers. When wholesale power prices began to spike last month to thousands of dollars per megawatt-hour, almost 5,000 of Sure Electric's retail contracts became unprofitable.
Sure Electric said in the filing that it entered bankruptcy to avoid defaulting on a security deposit demanded by the grid operator, the Electric Reliability Council of Texas.
When wholesale prices rise, ERCOT requires smaller retailers who don't have certain debt ratings to post higher security deposits.
Two companies, Etricity and Pre-Buy Electric, defaulted on those deposits and had to give up all of their customers.
A third company, National Power, couldn't honor its fixed-rate contracts and allowed ERCOT to switch its customers to default providers.
Larry Kelly, chief operating officer for retailer Texas Power LP, said, "These spikes, they're going to kill us.
"They're going to kill the consumer."
He said his company isn't in financial trouble, but if wholesale prices remain high, he will have to find a way to shed customers in Houston or South Texas, where he can't make money.
Mr. Kelly fired off an e-mail to the Public Utility Commission and its staff on Thursday, complaining about ERCOT's credit requirements and the way the market awards every power generator the highest bid for power at any given time.
Power generators bid their electricity to ERCOT each day, asking for certain prices for their power. ERCOT accepts the lowest bids first, then moves to the higher bids as demand for power increases in the course of the day.
The highest bid sets the price for power for the entire market.
"There's nothing to stop generators from bidding $1,000 every day," Mr. Kelly said.
An alternate method would be to award each power generator only the price it bid, even if other power from other generators fetches higher prices.
Dan Jones, the PUC's independent market monitor, said congestion on lines that carry power to Houston and South Texas caused the high prices, which reached thousands of dollars per megawatt hour at some points during the past few weeks.
He said he's monitoring the situation for evidence of manipulation, but he has yet to issue notices of violation to any companies.
The ERCOT board will hold an emergency meeting Friday to discuss new methods to relieve the power line congestion.
Public Utility Commission
REP REPORT
Company: NATIONAL POWER COMPANY, INC.
Website:
Service Area: Entire Texas
Customer Type:
Track No: EL050015
Type: Corporation Status: Active
Primary: Company / Physical
NATIONAL POWER COMPANY, INC.
616 FM 1960 ROAD WEST
SUITE 700
HOUSTON, TX 77090
Main: 281-377-7570
Alt: --
Fax: 281-377-0913
Email: RMackert1@aol.com
NPC POWER MARKETER
Certificate: 10106
Type: REP
Date: 04/08/2005
Note:
Filings: Certification
30813
Type: DOCKET
Date: 03/02/2005
Note: Application for REP Certificate
EL050015
Type: NOTIFICATION
Date: 05/28/2008
Note: ERCOT is switching customers due to company's default on payment obligations.
Public Utility Commission
REP REPORT
Company: PRE-BUY ELECTRIC, LLC
Website:
Service Area: Entire Texas
Customer Type:
Track No: EL050018
Type: Limited Liability Company, L.L.C Status:
Primary: Authorized Rep
PRE-BUY ELECTRIC LLC
1703 16TH STREET
Pre-Buv Electric. LLC
Street Address of Texas office:
Citv Grapevine TX.ZIP 76051
3041 Creekview Drive
Telephone: (8 17) 329-8828
BRIDGEPORT, TX 76426
Main: 940-683-1853
Alt: 866-777-0406
Fax: 866-883-8302
Email: lbosley@prebuyelectric.com
Company / Physical
PRE-BUY ELECTRIC LLC
1703 16TH STREET
BRIDGEPORT, TX 76426
Main: 940-683-1853
Alt: 866-777-0406
Fax: 866-883-8302
Email: jim@prebuyelectric.com
LUZ VERDE
Certificate: 10109
Type: REP
Date: 04/14/2005
30850
Type: DOCKET
Date: 03/09/2005
Note: Application for REP Certificate
32600
Type: DOCKET
Date: 05/09/2006
Note: Amend for ownership and financial information.
34351
Type: DOCKET
Date: 06/26/2007
Note: Amend to add dba of LUZ VERDE.
35748
Type: DOCKET
Date: 06/04/2008
Note: Commission Staff Petition to revoke REP
EL050018
Type: NOTIFICATION
Date: 05/19/2008
Note: 5/19/08 ERCOT is switching customers due to company's default on payment obligations.
Public Utility Commission
REP REPORT
Company: SURE ELECTRIC, LLC
Website:
Service Area: Geographic Area of Texas
Customer Type:
Track No: EL070008
Type: Limited Liability Company, L.L.C Status:
Primary: Company / Physical
SURE ELECTRIC, LLC
3913 GYRFALCON COVE
AUSTIN, TX 78738
Main: 512-917-3040
Alt: --
Fax: 512-263-8380
Email: dkniffin@sure-electric.com
Agent for Process
SURE ELECTRIC, LLC
2800 POST OAK BLVD
61ST FLOOR
HOUSTON, TX 77056
Main: 713-960-0303
Alt: --
Fax: 713-892-4800
Email: dwight@riverwaypower.com
Authorized Rep
SURE ELECTRIC, LLC
THREE RIVERWAY
SUITE 1900
HOUSTON, TX 77056
Main: 713-518-1729
Alt: --
Fax: 713-627-8533
Email: dwight@riverwaypower.com
Associated Names
RIVERWAY POWER COMPANY
Identification Numbers
Certificate: 10136
Type: REP
Date: 03/21/2007
Note:
Filings:
33608
Type: DOCKET
Date: 01/18/2007
Note: REP Certification Application rejected w/out prejudice
33868
Type: DOCKET
Date: 03/21/2007
Note: Granted the REP Certificate
34923
Type: DOCKET
Date: 11/16/2007
Note: Amended to add dba Riverway Power Company.
Filings:
35783
Type: DOCKET
Date: 06/16/2008
Note: Petition of Commission Staff to Revoke Certificate due to default of ERCOT obligations.
34351
Type: DOCKET
Date: 06/26/2007
Note: Amend to add dba of LUZ VERDE.
35748
Type: DOCKET
Date: 06/04/2008
Note: Commission Staff Petition to revoke REP Certificate
Filings:
EL050018
Type: NOTIFICATION
Date: 05/19/2008
Note: 5/19/08 ERCOT is switching customers due to company's default on payment obligations.
Public Utility Commission
REP REPORT
Company: HWY 3 MPH, LLC
Website:
Service Area: Geographic Area of Texas
Customer Type:
Track No: EL070007
Type: Limited Liability Company, L.L.C Status:
Primary: Company / Physical
HWY 3 MHP, LLC
412 SOUTH CARROLL BLVD.
SUITE 1000
DENTON, TX 76201
Main: 940-387-9282
Alt: 877-499-3647
Fax: 888-202-1990
Email: regulatory@myetricity.com
Authorized Rep
HWY 3 MHP, LLC
412 SOUTH CARROLL BLVD.
SUITE 1000
DENTON, TX 76201
Main: 877-499-3647
Alt: --
Fax: 888-202-1990
Email: management@myetricity.com
Agent for Process
HWY 3 MHP, LLC
100 NORTH TRINITY
DECATUR, TX 76234
Main: 940-627-2162
Alt: --
Fax: 940-627-1619
Email: attorneys@woodruffwren.com
Associated Names
Certificate: 10135
Type: REP
Date: 03/21/2007
Note:
Filings:
33325
Type: DOCKET
Date: 10/09/2006
Note: Dismissed w/out Prejudice REP Certification Application.
Filings:
33607
Type: DOCKET
Date: 01/18/2007
Note: Dismissed w/out prejudice application for REP Certification
Filings:
33866
Type: DOCKET
Date: 02/12/2007
Note: Original Certification Application
Filings:
34056
Type: DOCKET
Date: 03/23/2007
Note: AMENDMENT - Smart Choice Power would like to amend its certificate to enable it to take cusotmer deposits and advanced payments, and also to disconnect for non-pay.
34173
Type: DOCKET
Date: 04/20/2007
Note: AMENDMENT - Discontinue Name - Stop using "Smart Choice Power".
34766
Type: DOCKET
Date: 10/15/2007
EL070007
Type: NOTIFICATION
Date: 06/05/2008
Note: ERCOT has switched all customers to the POLR as of 6/3 due to default on ERCOT obligations.
The number of customers being switched is
6,202, including
6,179 residential and
23 small non-residential customers.
The size of the associated load is approximately
286 megawatt-hours per day.
Residential customers by transmission provider are:
CenterPoint 3,394
Oncor 1,849
AEP Central 678
Texas New
Mexico Power 195
AEP North 50
Sharyland Utilities 13
Today's News Sponsor:
PRESS RELEASE
July 01, 2008 Print Version
ERCOT Switching Blu Power Customers to Alternate Providers
Electric Reliability Council of Texas, Inc., grid operator for most of the state, announced today that customers of Blu Power of Texas are being switched this week to providers-of-last-resort (POLRs) at the request of Blu Power.
The number of customers being switched is 2,092, including 2,087 residential and five small non-residential customers. The size of the associated load is approximately 59 megawatt-hours per day.
Residential customers by transmission provider are:
Oncor 1,642
CenterPoint 414
AEP Central 14
Texas New Mexico Power 10
AEP North 7
Sharyland Utilities 0
ERCOT will work with transmission providers and affected retail electric providers to begin the switching process today. Most switching will be completed by Thursday, July 3.
Customers who are transitioned from Blu Power to a designated POLR will be notified in accordance with Public Utility Commission (PUC) rules which require both the defaulting retail electric provider and the new provider to notify the customer.
The POLR service is designed as a temporary safety net assuring continuous electric service if a retail electric provider leaves the market, and customer accounts are not sold or transferred to a competitor. POLR rates may be high priced due to planning costs, so Blu Power customers who receive notice that they are on a POLR rate, should immediately review the notice and contact the provider or a different provider to enroll in another plan.
TO SHOP FOR A NEW PRICE PLAN
Customers may shop for a new price plan at the TEXAS Home Electricity Web site:
Providers-of-last-resort are listed on the PUC web site: http://www.puc.state.tx.us/ocp/electric/polr/polr.cfm
Primary: Authorized Rep
BLU POWER OF TEXAS, LLC.
2221 PEACHTREE RD
SUTE D-192
ATLANTA, GA 30309
Main: 972-739-9901
Alt: 866-287-0000
Fax: 770-234-5201
Email: michael.anderson@blupower.com
Agent for Process
BLU POWER OF TEXAS, LLC.
1614 SIDNEY BAKER STREET
KERRVILLE, TX 78028
Main: --
Alt: --
Fax: --
Email:
Contact
BLU POWER OF TEXAS, LLC.
2221 PEACH TREE ROAD
SUITE D-192
ATLANTA, GA 30309
Main: 972-739-9901
Alt: 866-287-0000
Fax: 770-234-5201
Email: michael.anderson@blupower.com
Associated Names
Primary: BLU POWER
Identification Numbers
Certificate: 10116
Type: REP
Date: 09/01/2005
Note: REP Certification 07/03/08 ERCOT has switched customers to POLR at Blu Power's request.
Filings: Certification
26840-134
Type: NOTIFICATION
Date: 08/28/2006
Note: AMENDMENT - Mailing Address Update to 2221 Peach Tree Road Suite D-192, Atlanta, Georgia 30309.
Filings: Other
31423
Type: DOCKET
Date: 07/27/2005
Note: REP Certification Application
Filings: New
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