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New Utility To Launch Purchase of Receivables Program
The Peoples Natural Gas distribution companies in Pennsylvania have filed a series of tariff changes which are said to be aimed at improving the retail market and harmonizing processes among the companies.
Most notable among the changes is introduction of a purchase of receivables program at Peoples Natural Gas-Equitable Division, per the filing.
According to the filing, effective in early July 2015, all Equitable Division customers will be migrated to a newer and upgraded customer service and billing system that is used to serve Peoples and Peoples TWP customers. With that conversion, Peoples-Equitable Division will offer to eligible natural gas suppliers, "for the first time," a purchase of receivables (POR) service.
The PUC had previously approved the design of a POR program at the former Equitable Gas which was memorialized in tariff, but based on the language above, the program may not have been utilized by any supplier. The program was only to be implemented after being requested by a supplier.
The new POR program would be open to Priority 1 customers (residential and firm critical commercial) and small non-commercial customers with annual usage under 300 Mcf.
The Peoples-Equitable discount rate for residential customers is 1.5492% and is 0.5304% for commercial and industrial customers.
Under the filed changes to the tariff, Peoples-Equitable would, "have the right to review and adjust the discount rate on a monthly basis to reflect the actual mix of customers served by the Pool Operator."
If POR is elected by a Pool Administrator, all eligible customers served by the Pool Administrator must participate in the POR program. However, the modified tariff strikes prior language that imposed such an all-in requirement on customers served by both the Pool Administrator and, "an affiliate of a Pool Administrator."
As under the prior design, only receivables for, "basic gas supply service," are eligible for POR
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June 17, 2015
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Copyright 2010-15 EnergyChoiceMatters.com
Reporting by Karen Abbott • kabbott@energychoicematters.com
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