Briefly

Ohio Sets Workshop on Payment Priority for Consolidated Bill Receivables

The Public Utilities Commission of Ohio has schedule for August 31, 2012 a workshop to review the FirstEnergy utilities' implementation of the partial payment posting priority, including, but not limited to, the implementation of a prior stipulation with respect to customers on deferred payment plans (Case No. 12-2050-EL-ORD). The workshop is part of PUCO's five-year review of rules under Chapter 4901:1-10, OAC, and had been directed by PUCO's order regarding the FirstEnergy EDC's electric security plan, in which PUCO rejected a purchase of receivables plan sought by retail suppliers as a means of addressing issues with the partial payment order implementation.

Exelon Reports Lower Earnings from Competitive Segment

Exelon reported that its Generation segment, which includes the wholesale and retail customer energy supply businesses in addition to generating facilities, recorded second quarter 2012 net income of $166 million, compared to $443 million in the second quarter of 2011. Exelon said that the contribution to Generation's energy margins from Constellation was offset by several factors, including lower capacity prices. Generation's average realized margin on all electric sales, including sales to affiliates and excluding trading activity, was $26.15 per megawatt-hour (MWh) in the second quarter of 2012, compared with $41.59 per MWh in the second quarter of 2011. An Exelon news release, conference call, and presentation gave details regarding the retail businesses, and a 10-Q has not yet been filed. Executives did state that retail sales channels are meeting expectations for added margins and volumes. Asked about retail margins in the Northeast, executives note they had previously disclosed expected margins in the $2 to $4 area, and affirmed that they do not see any reason to change that perspective.

TrustedTPV Names Cipolla Director of Client Services

TrustedTPV today announced the appointment of Shannon Smoot Cipolla as Director of Client Services, who will take immediate responsibility for coordinating all client services throughout the company. Cipolla has over 7 years' experience in the third party verification (TPV) industry, having held positions at a variety of providers.