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Utility's Residential POR Discount To Fall From Over 3% To Less Than 1%
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Washington Gas Light has filed with the District of Columbia PSC proposed new discount rates for its purchase of receivables (POR) program
WGL listed the new D.C. residential POR discount as 0.716%. This compares to the current residential POR discount of 3.836%
WGL listed the new D.C. non-residential POR discount as 0%. This compares to the current non-residential POR discount of 1.392%
WGL also sought to modify the POR tariff so that the Bad Debt Expense and Cash Working Capital
Costs are included in the Reconciliation Factor.
Currently, Washington Gas's Rate Schedule No. 5, Page No. 27GG, Section (8)(6)
provides that Component No. 6 - Reconciliation Factor will adjust for
any over- or under-collection of costs (other than Component 1 - Bad Debt
Expense and 4 - Cash Working Capital Costs) associated with the POR Program.
"Washington Gas proposes to include bad debt expense and cash working capital
costs in the calculation of the Reconciliation Factor, because the Company
experienced an over-collection of bad debt expense and cash working capital costs
during the first year of POR implementation. The refunding of the over-collection
ensures that competitive service providers ('CSP') pay for the complete costs of
the program. Including the over-collection of bad debt and cash working capital
costs in the reconciliation is consistent with Order No. 19719. If, in future years,
there is an under-collection of bad debt expense or cash working capital costs from
CSPs, then including these components in the Reconciliation Factor will prevent
sales customers from subsidizing the POR program and ensure that CSPs pay for
the full costs of the POR program," WGL said
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Utility Seeks Changes To POR Discount Calculation
March 20, 2020
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Copyright 2010-20 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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