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Regulator Provides Guidance To Retail Suppliers On New Security Requirements; Compliance Date
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The Connecticut PURA's Office of Education, Outreach, and Enforcement (EOE) issued "guidance" to retail electric suppliers regarding new security requirements applicable to licensing, including for existing suppliers
As first reported by EnergyChoiceMatters.com, PURA recently adopted supplier licensing rules, which, among other things, set the security required for licensing (which is separate from the security required for RPS compliance) for all suppliers, including existing suppliers, based on a supplier's forecast annual volumes as follows:
• Up to 100,000 MWh: $250,000
• 100,001 MWh to 499,999 MWh: $500,000
• 500,000 MWh to 999,999 MWh: $1 million
• 1,000,000 to 1,500,000 MWh: $2 million
• Over 1,500,000 MWh: PURA may require higher security in individual orders specific to a supplier
EOE said that suppliers may comply with the new security amounts by either (1) adding any newly required security to the security that the supplier already uses to satisfy the RPS security requirements under subsection (b) of section 16-245a-1 of Conn. Agencies Regs., or (2) using a separate security in the required amount listed above
However, EOE stressed that, for the licensing security, the security must be, as stated by EOE, "continuous without an expiration date covering the term of the electric supplier’s license[.]"
The supplier licensing security will be revised annually
EOE said that suppliers shall file any required updates to their security on or before October 15, 2024
EOE "requests" that each supplier file, as part of such security update, "their projected forecast year load."
EOE said that this requirement for suppliers to file their projected forecast year load, "will be required," going forward under the annual security update process
EOE's guidance was filed in each supplier's individual licensing docket, 20-10-30 et al.
PURA's new rules were adopted in Docket 19-10-41
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September 5, 2024
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Copyright 2024 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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