Texas Staff, Glacial Energy of Texas, Inc. Working on "Draft Settlement Agreement" in Revocation Proceeding

Staff of the Public Utility Commission of Texas and Glacial Energy of Texas, Inc. have, "an agreement in principal and are currently working on a draft settlement agreement," the parties said in a request to abate the procedural schedule in a proceeding addressing Staff's petition to revoke the retail electric provider certificate of Glacial Energy of Texas, Inc.

The parties had stated in a prior status update in early January that they had reached an "agreement in principal," but in the prior update there was no explicit report that the parties had begun work on a draft settlement agreement, as they have now done.

"The Parties believe that further negotiations will result in a resolution of this matter entirely, or in part," Staff and Glacial Energy of Texas, Inc. said.

The parties' recently filed joint status update did not disclose particulars regarding the agreement in principal.

Parties requested a further abatement of the current procedural schedule in order to finalize the agreement and resolve any remaining contested issues.

"The Parties request that the current procedural schedule deadlines be abated until the parties have concluded settlement negotiations. In the event there are any remaining contested issues, the parties will request a new procedural schedule be entered and the Hearing on the Merits be rescheduled in accordance with the availability of the Parties and the ALJ. The Parties have agreed to continue to abate discovery and toll deadlines for any pending discovery requests during settlement negotiations. The Parties will apprise the ALJ of the status of settlement negotiations not later than March 4, 2013," the parties said.

Docket 40090