Panda Regurgitates Allegations Against ERCOT CDR In Bankruptcy Filing
April 19,2017
Panda Temple Power, LLC and certain related affiliates have filed for Chapter 11 bankruptcy.
As part of a motion accompanying its bankruptcy filing, Panda Temple Power cited a previously reported pending lawsuit Panda had filed against ERCOT in Texas state court, in which Panda alleged that "false and misleading" CDR reports, which showed generation below the target reserve margin, "induced" Panda to undertake the build of new generation
ERCOT has denied each of Panda's allegations in a response to the suit, and had previously said in a statement, made at the time the suit was filed, that, "The lawsuit is based on a misunderstanding of the purpose of ERCOT's Capacity, Demand & Reserves (CDR) reports, how the reports are prepared in accordance with the methodology in the ERCOT Protocols, and the open and public stakeholder discussion ERCOT goes through before changing components of the CDR. ERCOT will vigorously defend its position when it responds to the lawsuit. "