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Broker, Affiliated With Retail Supplier, Seeks Licenses In New State After Ownership Stay-out Period Expires
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CGE Renewables LLC applied for an Ohio electric broker license, checking boxes for authority to serve commercial, industrial, and mercantile customers in all service areas
CGE Renewables LLC also applied for an Ohio natural gas broker license, checking boxes for authority to serve small commercial, large commercial, and industrial customers in all service areas
CGE Renewables LLC describes itself as a stand-alone business entity 100% owned by CGE
Holdings LLC, and notes that other stand-alone entities have one or more of the same
owners as CGE Holdings, LLC (such as the Palmco Power companies, Indra Energy, etc.). CGE Renewables LLC does use the term "affiliate" to describe a Palmco Power retail supplier
Notably, the PUC of Ohio in 2019 adopted a stipulation among PALMco Power OH, LLC, PALMco Energy Ohio, LLC, and PUCO Staff to resolve allegations from PUCO Staff that PALMco had engaged in, "unfair, misleading, deceptive and unconscionable marketing, solicitation, and sales acts and practices when PALMco committed to provide customers with 'competitive' and 'the best' rates, when in reality, PALMco charged customers quadruple the price to compare."
See more details on the settlement here
One of the provisions of the 2019 settlement was that PALMco’s then-current owners (some of whom have ownership in CGE Holdings, LLC) agreed not to operate as an owner, officer, director, or partner for another competitive retail electric service (CRES) "company" or competitive retail natural gas service (CRNGS) "company" (which would include a retail supplier, broker, marketer, or aggregator) in Ohio for five years from the signing of the stipulation. The settlement was signed on July 31, 2019 and thus this stay-out period for a CRES/CRNGS "company" has expired
In 2021, PALMco entered a second settlement addressing similar allegations, but related to service which had occurred during a different time period. Under the 2021 settlement, PALMco agreed that its then-current owners will not serve as an owner, officer,
director, or partner for a competitive retail electric service "supplier" or a competitive retail natural gas service "supplier" in Ohio for a period of seven years from October 20, 2021, except that PALMco's then-current owners would be permitted, after July 31, 2024, to serve as as an owner, officer,
director, or partner for an Ohio retail supplier if such supplier, "serves only large commercial and/or industrial customers."
The 2019 settlement's stay-out, which had applied to operation of a CRES/CRNGS "company" has expired.
The 2021 settlement's provision limiting service to large C&I customers applies to only a retail "supplier". CGE is not a retail suppler and is not seeking certification as a retail supplier
CGE Renewables provided the following statement concerning its application: "CGE Renewables is not a retail supplier and is not applying to serve as one in Ohio: it is seeking to provide only broker services. We look forward to consideration of our application by the PUCO."
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August 23, 2024
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Copyright 2024 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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