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Large Credits to N.Y. Default Service Customers Allowed to Take Effect
The New York PSC has taken no action on the natural gas utilities' annual reconciliation filings, meaning that large reconciliation credits for default service customers at Consolidated Edison and Orange & Rockland will take effect.
The reconciliation filings do not require PSC action to take effect, though the PSC has discretion to direct further proceedings. In this case, the PSC took no action on the filings, and they will take effect as-filed.
Of note, the as-filed Consolidated Edison reconciliation results in a 10.28¢/therm credit to default service firm gas customers for 2015, and the Orange & Rockland as-filed reconciliation results in a GSC refund of $1.370/Mcf
ESCOs had protested these refund amounts as indicative of imprudent management of over-recoveries, and said that the credits would distort pricing. ESCOs sought to limit the credits to historic amounts, with a collaborative to address alternative mechanisms to refund remaining over-collections.
In a memorandum to the Commission, PSC Staff opposed the ESCOs' sought relief.
"Con Edison's and O&Rs situation is not extraordinary and nothing has changed that warrants a modification to the long standing methodology that GAC imbalances are refunded or surcharged to customers over the next calendar year. Staff believes Con Edison and O&R customers should be provided their full refund over the next calendar year in order to offset gas costs for this upcoming winter period," Staff said.
Staff said that should any changes to the reconciliation mechanism be considered, such changes should be considered generically for all of the gas LDCs and applied symmetrically regardless of over or under recovery imbalances.
Case 14-G-0325
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December 17, 2014
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Copyright 2010-14 EnergyChoiceMatters.com
Reporting by Karen Abbott • kabbott@energychoicematters.com
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