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Regulator Rejects $5 Million Settlement Between Retail Supplier and AG/Consumer Counsel, Says Case Requires Findings To Be Made
The Connecticut PURA, in ruling on a motion, rejected a $5 million settlement between Palmco Power CT, LLC and the Connecticut Attorney General and Consumer Counsel as resolving a PURA investigation into Palmco, with PURA stating that, "it is important for dispositive conclusions and findings to be made in this proceeding."
As only reported by EnergyChoiceMatters.com, the settlement, which would resolve a PURA investigation into Palmco's marketing and enrollment practices, would require Palmco to return all of its remaining Connecticut electricity customers to default service (less than 1,000 customers as of February 15) and require Palmco to voluntarily relinquish its electric supplier license in Connecticut for a period of five years. Palmco would make a voluntary $5 million donation and contribution to the State of Connecticut under the settlement
In a motion ruling rejecting the settlement as an acceptable resolution to the proceeding, PURA stated that, "the record of this proceeding is replete with evidence of how Palmco systematically and repeatedly deceived and misled consumers in the State of Connecticut in violation of Connecticut law, thereby undermining confidence and trust in the orderly operation of and causing harm to the Connecticut electric retail market."
In the motion ruling rejecting the settlement, PURA stated that, "The record also shows that Palmco admitted to various technical and managerial deficiencies by providing inadequate internal controls to identify illegal practices of its own agents or those of third-party vendors."
In the motion ruling rejecting the settlement, PURA stated that, "The Authority determines that it is important for dispositive conclusions and findings to be made in this proceeding. The Authority also operates to protect due process of all parties involved."
Palmco Power provided the following statement to EnergyChoiceMatters.com:
"PALMco is fully committed to addressing customer concerns in Connecticut, and everywhere we do business. Over the past year, the company has made several changes to its operations. We have hired senior managers with extensive retail energy experience, and have focused on a number of cultural and operational improvements, including but not limited to, enhanced sales monitoring and oversight mechanisms, as well as new policies and procedures. PALMco is committed to a third party compliance audit, where we will seek to identify further improvements in our training, compliance and marketing functions and to developing some of the best practices in the industry."
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March 9, 2017
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Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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