NERC Requests to Advance Funds to Support Dissolution of FRCC Inc.'s Regional Entity Division
- Filter By Electric Reliability Law Blog
On May 16, 2019, in Docket No. RR19-4-001, NERC submitted a request to advance funds from its Operating Contingency Reserves to support the dissolution of the Florida Coordinating Council (FRCC), Inc.'s Regional Entity Division. This request is in connection with FERC’s April 30, 2019 order approving the dissolution of FRCC, which faced an unanticipated change in its cash flow projection such that it may not have sufficient funds to make payments contractually required by August 31, 2019. This advance will enable FRCC to complete the wind down of its Regional Entity division. NERC requests the Commission’s approval of one time advance of funds up to $1,500,000 by June 15, 2019, the treatment of this advance as an expenditure of NERC’s operating contingency reserves exceeding $500,000 if necessary, and the permission for NERC to replenish its operating contingency reserves up to the amount advanced to FRCC. NERC also requests approval to amend the NERC-FRCC Termination Agreement.
To view NERC’s filing, click here.