Electric Reliability Council Of Texas Inc 10-10-90

Organization Overview

Electric Reliability Council Of Texas Inc 10-10-90, operating under the name Ercot, is located in Austin, TX. The organization was established in 2008. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Ercot employed 859 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ercot is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.

For the year ending 12/2021, Ercot generated $252.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $257.3m during the year ending 12/2021. While expenses have increased by 4.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

SEE SCHEDULE O

Describe the Organization's Program Activity:

Part 3 - Line 4a

ERCOT SUCCESSFULLY MANAGES THE FLOW OF ELECTRICITY TO APPROXIMATELY 26 MILLION CUSTOMERS IN THE STATE OF TEXAS, WHICH INCLUDES THE MANAGEMENT OF FINANCIAL SETTLEMENT FOR THE COMPETITIVE WHOLESALE BULK-POWER MARKET AND THE ADMINISTRATION OF ELECTRIC PROVIDER ACCOUNT SWITCHING IN COMPETITIVE CHOICE AREAS.


ERCOT ACTS AS THE SERVICER AND ADMINISTRATOR FOR THE SUBCHAPTER M BONDS. UNDER THE ERCOT NODAL PROTOCOLS RELATING TO THE SUBCHAPTER M DEFAULT BALANCE SECURITIZATION, ERCOT BILLS MARKET PARTICIPANTS MONTHLY IN AMOUNTS SUFFICIENT TO PROVIDE PAYMENTS OF DEBT SERVICE AND OTHER REQUIRED AMOUNTS AND REMITS THOSE FUNDS TO THE TRUSTEE.


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Board, Officers & Key Employees

Name (title)Compensation
Jeyant Tamby
Sr. VP And Cao
$484,335
Chad Seely
Sr. Vp, General Counsel &
$459,946
Sean Taylor
VP & CFO
$384,737
Jayapal Parakkuth
VP & Cio
$382,615
Kenan Ogelman
Vp, Commercial Operations
$381,208
Dwayne Rickerson
Vp, Grid Planning & Operat
$379,453

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Potomac Economics Ltd
Independent Market Monitor
$3,710,837
Nextsourceinc
Contingent Workforce
$8,827,226
Hitachi Energy Usa
It Consulting
$3,373,218
Winstead Pc
Legal Services
$2,482,121
Grid Solutions Llc
It Consulting
$3,911,014
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$252,435,343
Investment income $199,832
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $252,635,175

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