Residents Energy Receives License In New State, PSC Includes Reporting Conditions

July 18, 2019

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Reporting by Paul Ring • ring@energychoicematters.com

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The Michigan PSC granted Residents Energy LLC a license to operate as an alternative natural gas supplier.

The PSC included certain reporting conditions in granting the license

The PSC in its order stated, "Based upon the company’s submission, all of the information provided, and the history of the affiliate company IDT Energy, Inc., the Commission finds that granting the AGS license should be conditioned upon the requirement that Residents shall file a quarterly report to the Staff for six quarters regarding its Michigan operations subject to its AGS license."

"The reporting will start following the enrollment of its first Michigan customer. This reporting must include all of the following: (1) the number of customers at the end-of-quarter; (2) the number of new customers added during the quarter; (3) the number of customers renewed, extended, or whose contract terms have expired during the quarter; (4) a statement from Residents that all new contracts and any contract renewals or extensions (if applicable) have been processed appropriately pursuant to utility tariffs, any relevant Commission orders and administrative rules, and Act 634; and (5) a listing of each Michigan customer complaint received directly by Residents, including complaint type, open date, closed date, how the complaint was resolved, and, if a refund/rebate is involved in the resolution, the refund details. Upon request by the Staff, Residents must make additional customer information related to the report readily available to the Staff," the PSC said

A spokesperson for Residents Energy stated, "The entire Residents Energy team is happy to have been granted a license by the Michigan PSC to supply natural gas in the state. We look forward to onboarding our first customers in the near future."

In its order, the PSC noted, "The Staff’s review of Residents’ application also included a review of each of its affiliates. While no formal investigations or disciplinary proceedings have been initiated against Residents, following the polar vortex of 2014, several formal investigations were brought forth against IDT Energy, Inc., an affiliate incorporated in 2004 with more than 175,000 customers across seven states, due to a spike in variable retail electric rates."

The PSC further said in the order that, "The Staff notes that it has recommended approval of an AGS license for Residents after months of extensive review, discussion, and the company’s agreement to the conditions for the AGS license."

Residents is a wholly owned subsidiary of Genie Energy, Ltd.

Case No. U-20506

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