Retail Energy Concierge Shopping Service (Auto-Switching) Receives Pennsylvania License
PUC Sets Bond Higher, Distinct Contract Requirements
March 15, 2019 Email This Story Copyright 2010-19 EnergyChoiceMatters.com
Reporting by Paul Ring • email@example.com
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The Pennsylvania PUC granted Arcadia Power, Inc. an electric broker/marketer license to serve residential customers in all service areas.
As previously reported, Arcadia offers a concierge shopping or price alert service, which monitors residential retail supplier offers in states with energy choice and automatically switches residential customers to plans which provide savings
The PUC noted that Arcadia Power has indicated that it will not be taking title to electric power, but it may be paying customers’ bills in its broker/marketer role.
While brokers not taking title to electricity typically are permitted to only post security in the amount of $10,000, the PUC said that, "Because Arcadia Power pays bills to the suppliers on behalf of its customers, the Commission has required that Arcadia Power provide a $250,000 financial security."
Arcadia Power has already provided a bond in the amount of $250,000.
"Arcadia Power provides an optional service which entails paying customers’ entire utility bills as a payment agent if the customer requests this optional service. The action we take here today is to approve only the Company’s application to be licensed as a broker/marketer as prescribed by Title 66. In doing so, we also are setting the bond requirements for this licensee," the PUC said
The PUC further directed, "To maintain clarity regarding licensed offerings, Arcadia Power is directed to maintain a separate contract for PUC-licensed services with each customer who has contracted with Arcadia Power for additional services which are not licensed by this Commission."
"Arcadia Power, Inc., shall provide for each customer a contract for PUC-licensed services that is separate and apart from contracts entered into with customers for services not licensed by this Commission," the PUC said