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PUC Stays Deadline for Payment of $2 Million Fine By Retail Supplier
The Pennsylvania PUC stayed, for a period of 30 days, its recent order that Hiko Energy, LLC pay a $1.8 million civil penalty
As previously reported, the PUC issued the $1.8 million against Hiko for what the PUC said was the company's action to, "knowingly and deliberately," decide not to honor guaranteed savings contracts with customers due to the polar vortex (click here for story)
Hiko filed an emergency petition for supersedeas of the PUC's order, and sought a stay of the civil penalty pending resolution of an appeal Hiko intends to file with the Commonwealth Court
Hiko claimed that it would likely succeed on appeal, claiming that the unprecedented size of the penalty, compared to settled cases before the PUC, was not supported by sufficient evidence.
Hiko said that, absent the stay, it, "will suffer significant loss that threatens the economic viability of the Company and could ultimately impair its ability to serve Pennsylvania customers."
"The amount of this civil penalty places a massive financial burden on HIKO when it is already under obligations to make an equally sizable restitutionary payment to its Pennsylvania customers," under a $2 million settlement with the Pennsylvania Attorney General and consumer advocate
The PUC did not grant an indefinite stay at this time, but granted a stay of 30 days, until February 3, 2016, to allow it to further consider Hiko's petition. The PUC said that it would address the merits of Hiko's petition for supersedeas at a subsequent open meeting
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December 24, 2015
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Copyright 2010-15 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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