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PUCT Staff Seeks Revocation of Glacial Energy REP Certificate
January 10, 2012
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Copyright 2010-
PUCT Staff have filed a petition to revoke the REP certificate of Glacial Energy of Texas, Inc (Docket 40090).
The petition was expected given that, on Friday, Staff in a Notice of Violation alleged that Glacial is not in compliance with the REP certificate rules (see 1/9).
Under P.U.C. SUBST. R. 25.107(g)(1)(D), "[a]n individual that was a principal of a REP that experienced a mass transition of the REP's customers to POLR shall not be considered for purposes of satisfying this requirement, and shall not own more than 10% of a REP or directly or indirectly control a REP."
Staff is seeking revocation due to allegations that Gary Mole, the majority shareholder of Glacial Energy Holdings, which owns Glacial Energy of Texas, Inc., previously had an ownership interest and experience with Franklin Power Company, a REP that experienced an involuntary mass transition of customers to POLR in 2005. For this reason, Staff alleged that Glacial has failed to comply with and maintain compliance with the 10% ownership restriction for principals that have experienced a POLR event pursuant to current P.U.C. SUBST. R. 25.107(g)(1)(D).
Staff also sought revocation based on allegations that Glacial's initial REP application had material omissions regarding the pending complaint proceedings against Franklin Power and Gary Mole's ownership interest and experience with Franklin in violation of P.U.C. SUBST. R. 25.107(j)(1) and former P.U.C. SUBST. R. 25.107(g)(9)(A) and 25.107(g)(9)(B). "The fact that Franklin had experienced a mass transition of its customers to POLR in 2005 and had pending complaints before the Commission, which ultimately led to the revocation of Franklin's REP certificate, are material events that would have likely resulted in the rejection of Glacial's REP application," Staff alleged.
Additional details regarding the allegations were covered in our 1/9 story .
Email This StoryCopyright 2010-
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