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In its application Energywell Texas, LLC seek several waivers to existing rules that prohibit principals of previously defaulted Retail Energy Providers (REPs) from controlling another REP.  In the application it notes that certain of its principals — namely Michael Fallquist, Roop Bhullar, and Christian McArthur — were principals of Griddy Energy, LLC, which was subject to an involuntary mass transition of its customers to POLRs in the wake of Winter Storm Uri, and which had its ERCOT market participant rights revoked.

For example, the application notes that 16 TAC § 25.107(g) provides that a REP may not be controlled by an individual who, within 6 months prior to the relevant event(s) occurring, was a principal at a REP which either (1) experienced an involuntary mass transition, (2) had its ERCOT standard form market participant agreement terminated, or (3) exited a market with outstanding financial obligations that remain outstanding.

In its application, Energywell Texas, LLC seeks a good cause waiver of 16 TAC § 25.107(g) under 16 TAC 25.3(b). 

Providing support for waiver request, “Applicant believes that the unprecedented circumstances surrounding the events related to Winter Storm Uri, and the actions taken in response by the principals of this Applicant during that time, provide the good cause required to grant the requested waiver.” 

In its application, Energywell Texas volunteers to make several commitments if the identified waivers are granted.  For example, Energywell Texas, LLC proposed that, among other things, for the first two years of operations in Texas, Energywell would report to PUC Staff on a quarterly basis on enrollment numbers, complaint history in Texas, financial standing, and overall operations of the company in Texas. In addition, Energywell representatives would meet with the PUC Staff on a quarterly basis to discuss the report and address any concerns or questions or concerns of Staff.

In addition to the personnel relied upon to meet the 15-year experience requirement under the PUC rules, Energywell offers to maintain on staff at least two employees with decision-making authority to oversee regulatory and operational issues in Texas, both with a minimum of five years’ experience in the Texas market addressing matters governed by Subchapter R of the Commission rules, including customer complaint procedures and timelines.

See application for further waiver requests and support for granting of such requests.

Michael Fallquist is listed as CEO, Christian McArthur as President & COO and Jonathan Rubenstein as General Counsel.    

Application  (05/23/2024)
56651
(Application Of Energywell Texas, LLC For A Retail Electric Provider Certificate)