A subsidiary of Sumitomo Corp. was temporarily suspended from the New England wholesale energy market this month due to a default on its financial obligations.

Pacific Summit Energy, which trades electricity, natural gas and crude oil from offices in Newport Beach, Calif., and The Woodlands, Texas, was suspended on Jan. 5 by ISO-NE. The grid operator notified the Federal Energy Regulatory Commission by letter on Jan. 12.

“Pacific Summit has cured the default and the company is currently meeting all of its obligations under the ISO New England Tariff,” ISO-NE Spokeswoman Marcia Blomberg said Friday.

Declining to discuss specifics of the case, Blomberg added: “In general, suspensions are a result of a participant not maintaining a minimum amount of collateral and/or not complying with other financial assurance and billing requirements.”

She also declined to say when PSE was returned to good standing.

Blomberg said there is no requirement for notification to FERC when a suspension is lifted.

PSE, created by Japanese conglomerate Sumitomo in 2012, did not return calls seeking comment.