PUC Inquires As To "Oligopolistic Trend" In Wholesale Requirements Contract Market

December 22, 2023

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Copyright 2010-23 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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The New Hampshire PUC continues to question utility default service procurement witnesses as to what the PUC termed, "the appearance of an oligopolistic trend in the wholesale requirements-contract market in this region [ISO New England]".

The PUC again asked this question during a hearing on Public Service of New Hampshire's latest default service procurement results. PSNH relies exclusively on full requirements load following contracts for mass market SOS

As it has in other recent EDC procurements, the PUC ultimately approved the PSNH procurement and resulting retail rates, but directed PSNH to file a proposal to serve 10-20% of mass market load through ISO-NE prices.

"[A]s an interim, measured approach, and in light of the Company’s stated desire for directional certainty, we order Eversource to develop a proposal, for submission to the Commission no later than February 5, 2024, for an ISO-New England market-based procurement approach for 10 to 20 percent of Small Customer Group load, through whatever combination of direct Day-Ahead and Real-Time ISO-New England market acquisitions the Company finds advisable, for the Company’s upcoming August 2024-January 2025 energy service period, as appropriate," the PUC said

The proposal would be subject to future PUC consideration, and the PUC did not adopt the use of ISO-NE pricing for small customer default service at this time

The PUC reiterated, "In light of the empirical data developed through IR 22-053, and the monthly data being submitted by the Company in this docket, the Commission believes that the time is right to develop an ISO-New England market-based component for energy service procurement for Eversource’s Small Customer Group[.]"

The PUC approved PSNH's filed default service rates without modification

See our prior story here for the new PSNH rates, which were approved by the PUC

Docket DE 23-043

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