Texas Grid Operator Discussed Financing With Goldman as Energy Buyers Balk at Payment Shortfall

Texas Grid Operator Discussed Financing With Goldman as Energy Buyers Balk at Payment Shortfall

The Texas grid operator has held talks with financial institutions including Goldman Sachs Group Inc. about potential financing options to address a more than $3 billion shortfall in electricity payments as some market participants balk at paying their share, according to people familiar with the matter.

The Electric Reliability Council of Texas has held preliminary discussions with investment bankers from Goldman Sachs about measures, such as a potential credit facility, that would cover amounts that energy retailers haven’t paid for the electricity they bought during last month’s energy crisis, these people said.

Ercot, which acts as the payment…

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