PNE Customers Switched to Default Service to Receive One-Time Payment Under Proposed Settlement

Staff of the New Hampshire Public Utilities Commission, PNE Energy Supply, LLC (PNE), and Resident Power Natural Gas & Electric Solutions, LLC (Resident Power), have filed a settlement to resolve all issues in the PUC's dockets investigating PNE and Resident Power and issues relating to the mass transition of PNE customers to default service due to PNE's prior default at ISO New England.

The settlement provides:

• All former PNE customers placed on default service with PSNH on February 20, 2013, will receive a one-time payment of $9.50 as a result of being placed on default service. Each customer’s acceptance of said $9.50 payment shall be conditioned on the customer waiving any claims against PNE relating to the customer’s placement on default service. The $9.50 payment to each customer shall be reduced by any amount owed by the customer to PNE under the PNE terms and conditions prior to February 20, 2013

• Within 3 days of the approval of the settlement, the $100,000 from the escrow account established by PNE pursuant Puc 2003.01(d)(4) and 2003.03, shall be delivered by the Commission to counsel for PNE, and shall be held by counsel for PNE in a client IOLTA account pending the delivery of all one-time customer payments described above. Counsel for PNE shall release said $100,000 to PNE after delivery of all said customer payments.

• Prior to resuming operations as a CEPS in New Hampshire, PNE will establish an escrow account in the minimum amount of $200,000 in satisfaction of the requirements set forth in Puc 2003 .01(d)(4) and 2003.03. PNE shall increase the amount of said escrow account as required by Puc 2003.03 (a)(2).

• Staff recommends that upon the establishment of the escrow account described above, the Commission terminate the operation of provisions in the February 28, 2013 Order of Notice, which directed PNE to cease enrolling new customers pending the outcome of the docket, and which provided that, until further notice, New Hampshire electric utilities would not be required to accept or process new customer enrollments from PNE.

• PNE agrees to develop a notice for former PNE customers, and to provide that notice to the PUC Consumer Affairs Division for its review. PNE and the PUC Consumer Affairs Division will work cooperatively and in good faith on the content of said notice. Such notice shall be provided to the former PNE customers by email, posting on the PUC website, and via a PUC press release, no later than April 12, 2013.