|
|
|
|
|
New York PSC Sets New Compliance Deadline For Broker Regulation Order
The following story is brought free of charge to readers by VertexOne, the exclusive EDI provider of EnergyChoiceMatters.com
The Secretary of the New York PSC has issued a new compliance deadline for the PSC's retail energy broker and consultant regulation order
The Secretary said that a court has issued a preliminary injunction order, "to enjoin only the Commission’s enforcement of the financial assurance requirement as implemented through Ordering Clauses 3, 6, and 7 of the [April 2024] Order on Rehearing."
See our prior story for details
As such, the Secretary set new compliance deadlines for those provisions of the broker regulation order that are unrelated to the financial fitness requirement
Specifically, the Secretary extended until October 27, 2024 the deadlines for complying with Ordering Clauses 3, 6, 7, and 9 of the April 2024 broker regulation order, "excluding those provisions that require applicants to provide a method of financial accountability".
Ordering Clauses 3, 6, 7, and 9 are summarized below:
3. The new Uniform Business Practices (UBPs) reflecting new broker regulation rules, including new requirements for both brokers/consultants and ESCOs, are now effective October 27, 2024
6. Brokers/consultants shall comply with the new UBPs
7. Brokers/consultants shall register with the PSC [originally by July 31, 2024; now by October 27, 2024]
9. ESCOs shall update their customer sales agreements to include disclosures of compensation to brokers/consultants, as set forth in the order
The requirement that broker/consultant applicants must provide a method of financial accountability is suspended until further notice, the Secretary directed
Brokers & consultants will not need to include any financial accountability as part of their registration packages, the Secretary said
Case 23-M-0106 et al.
ADVERTISEMENT ADVERTISEMENT Copyright 2024 EnergyChoiceMatters.com. Unauthorized copying, retransmission, or republication
prohibited. You are not permitted to copy any work or text of EnergyChoiceMatters.com without the separate and express written consent of EnergyChoiceMatters.com
September 19, 2024
Email This Story
Copyright 2024 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
NEW Jobs on RetailEnergyJobs.com:
• NEW! -- Director of Policy and Research, Retail Energy
• NEW! -- Director, Load Forecasting
-- Retail Supplier
• NEW! -- Wholesale Markets Analyst -- Retail Supplier
• NEW! -- Origination Analyst
-- Retail Supplier
• NEW! -- Settlements Analyst
-- Retail Supplier
• NEW! -- Billing Supervisor
|
|
|
|
|