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PUC Approves Reduction in Retail Supplier's Security Requirement
The New Hampshire PUC has approved a request from PNE Energy Supply, LLC to reduce the amount of security required of the supplier.
Under a prior settlement in early 2013 arising from PNE's transition of customers to default service, prompted by a default at ISO New England, the PUC had required PNE to maintain an escrow account with a minimum amount of $200,000
The PUC found that based on PNE's current levels of sales, allowing a reduction of PNE’s surety to $100,000 in escrow is appropriate.
"We also find that a semi-annual (every 6 months) sales reporting period for the specific purpose of adjusting PNE’s surety is advisable. We order such semi-annual reporting, in addition to and not as a substitute for, the quarterly sales reporting already required of PNE under Puc 2003.03(b)," the PUC said.
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May 20, 2014
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Reporting by Karen Abbott • kabbott@energychoicematters.com
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