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AllStar Energy to Relinquish Texas REP Certificate Under Settlement
April 8, 2011
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TexRep5, LLC d/b/a AllStar Energy would relinquish its REP certificate, and certain of its principals would agree not to serve as a principal or in a similar capacity for another Texas REP for a period of 18 months, under a settlement with PUCT Staff to resolve Staff's petition to revoke AllStar's REP certificate (38146).
Staff had alleged, among other things, that AllStar failed to properly disclose a Delaware investigation into Horizon Power & Light in filing for an amended REP certificate. Though not affiliated with AllStar, Horizon does share two principals with AllStar, in Neil Leibman and Tom O'Leary. Staff alleged that such failure showed a lack of managerial fitness to hold a REP certificate (10/14).
The parties to the settlement agree that AllStar is entering into the stipulation without conceding or admitting that it, or any of its principals, has committed a violation of any state laws or Commission rules, specifically including but not limited to PUC Subst. R. 25.107.
AllStar has also agreed to pay an administrative penalty of $52,000 under the settlement.
Neil Leibman, individually, and Tom O'Leary, who are two of the principals of AllStar, the George Corporation (AllStar's parent), and Horizon Power & Light, and who are not parties to the proceeding, have voluntarily agreed that they will not serve as a principal, as defined by PUC Subst. R. 25.107(b)(11), officer, director, or board member of any REP certificated by the PUCT for a period of 18 months. Furthermore, Neil Leibman and Tom O'Leary agree that they will not obtain ownership in a REP certificated by the Commission in an amount equal to or greater than 10% for a period of 18 months.
It is not believed that AllStar is serving any customers.
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