Two Retail Suppliers Default at ISO-NE, Return Customers to Default Service
December 30, 2013 Email This Story Copyright 2010-13 EnergyChoiceMatters.com
Reporting by Paul Ring • email@example.com
Two retail electric suppliers have defaulted with ISO New England, and their customers are being returned to default service.
Specifically, Public Service Company of New Hampshire reported that it was notified on December 24th by ISO New England of the "default and suspension" of the energy suppliers People's Power & Gas, and Easy Energy of Massachusetts. Update, 12/31: People's Power & Gas has cured its default.
PSNH said that it was transferring 5,700 People's Power and Gas customers back to PSNH default service; PSNH said that Easy Energy was not active in the PSNH service area. People's Power and Gas was also serving a few hundred customers at Unitil-NH and New Hampshire Electric Cooperative, which have confirmed that those customers are being returned to default service as well.
In Connecticut, Connecticut Light & Power informed PURA that it had transferred People's Power and Gas' customers to default service, but did not provide a specific number. Per the utilities' migration reports filed in early December, People's Power and Gas was serving 1,250 customers at CL&P, and 135 customers at United Illuminating.
PSNH noted that, "The suspension of these suppliers comes on the heels of a period of extreme volatility in the region's energy market, which is heavily dependent on natural gas. A fixed and limited supply of natural gas, during a period of heavy seasonal demand, has resulted in recent spikes in the price of electricity. Energy suppliers who have contracts with customers for a fixed, lower price may find themselves in a challenging financial situation. PSNH owns and operates a diverse fleet of power generation facilities, including hydro-electric, wood, coal, oil and natural gas. The company's default energy service charge reflects the actual costs of producing or purchasing the energy it needs to meet customer demand."