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PUC Confirms Process To Address Allocation Of Large Under-recovery In Default Service Rates; Reconciliation Rates Were Previously Mitigated
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The New Hampshire PUC has established a formal process to consider ongoing issues related to electricity default service at Granite State Electric (Liberty Utilities), including "discussion" of the appropriate treatment of default service reconciliation balances
As first reported by ECM (full story here), the PUC previously mitigated a 21¢ per kWh small customer electric default service rate which had been calculated at Granite State Electric (Liberty Utilities) as the result of a reconciliation factor of about 7 cents per kWh
The PUC ordered that the small customer default service rate at GSE shall be 15.835 cents per kWh starting August 1, 2026
The PUC arrived at this rate by establishing a "provisional" Energy Service Adjustment Factor (ESAF, or reconciliation) charge of 1.157 cents per kWh for the small customer group, which was the level of the ESAF in place prior to August 1, 2026
The PUC has now set a process to address various issues related to the reconciliation balance (including potential drivers of such), establishing a phase of the SOS proceeding to address the following:
(1) whether the proxy-price development methodology for the ISO-New England market-based procurement components for Liberty’s Default Service rates should be adjusted from the current approved methodology to incorporate a market-futures based pricing element going forward;
(2) whether
the Default Service reconciliation cycle for Liberty should be shortened from the current twelve
(12) months to a semi-annual six (6) month reconciliation cycle;
(3) the provenance and accuracy of the current Liberty Default Service reconciliation balances, and whether these balances should be adjusted due to accounting errors or other sources of mis-allocation; and
(4) "discussion of the best means of working out these reconciliation balances in the Company’s rates".
The PUC said that in this new phase of the default service proceeding, "the Commission will not consider additional issues[.]"
The PUC set a hearing date of November 17, 2026 for the proceeding
Docket DE 26-023
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August 3, 2026
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Copyright 2026 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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