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Texas PUC To Move Forward With Full Consideration Of Fixed Price Rule Interpretation & Securitization Charges, Citing Need For Market Certainty
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The Texas PUC will proceed with full consideration of a petition from PUC Staff who had requested issuance of a declaratory order providing that, under PURA § 39.112(a) and 16 TAC § 25.475(b)(5), retail electric providers may not increase the price charged under a fixed rate contract entered on or after August 1, 2022 to reflect fluctuations in the amount of Securitization Charges incurred by a REP over the life of a customer’s fixed rate contract
The amount of Securitization Charges incurred by a REP will vary each month due to fluctuations in the REP’s load-share ratio or due to true-up adjustments
See background on the matter here
As previously reported, a settlement in principle has been reached by PUC Staff, various Just Energy REPs, and OPUC under which all parties agree that the proceeding should be resolved with a Commission order granting the declaration sought by Commission Staff’s January 31, 2024 petition
However, during today's open meeting, Commissioner Lori Cobos said that a settlement concerning enforcement actions is an inappropriate resolution for the current project and should be addressed as a separate matter
Moreover, Cobos said that the PUC should proceed with consideration of the petition, including addressing two issues which had been certified to the Commission
While the three current parties to the case have reached a settlement that would grant Staff's sought order, as noted further below, the proceeding will now be formally noticed for comment, and additional parties may respond to the petition as a result
Specifically, as recommended by Cobos, the PUC answered the two certified questions as follows:
1. Who are the persons and entities that may be affected by the declaratory order
sought by Commission Staffs petition?
PUC Answer: The Declaratory Order can affect all REPs currently serving residential and/or small
commercial customers under a contract for a fixed rate product;
2. To whom, and by what method or methods, should Commission Staff be required
to provide notice of its petition?
PUC Answer: Notice should be provided to ERCOT, OPUC, ERCOT's Retail Market Subcommittee
(i.e., all REPs), and all parties that participated in Docket No. 52322 [the Subchapter N securitization proceeding]
The PUC denied a motion to abate the proceeding filed by the settling parties, as the Commission agreed with Cobos's approach
"I would like to move forward with providing feedback on the certified issues because I think it's important for the Commission to state a position on these issues because it will provide certainty to the retail market. This is a much broader issue than the specific enforcement piece that led to this petition," Cobos said
"I believe it's important to move forward to respond to the certified issues so that we can provide the notice ... [and] also more broadly address the legal question before us so the retail market has certainty," Cobos said
Docket 56168
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March 7, 2024
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Copyright 2010-23 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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