PUC Approves Reduction in Retail Supplier's Security Requirement

The New Hampshire PUC has approved a request from PNE Energy Supply, LLC to reduce the amount of security required of the supplier.

Under a prior settlement in early 2013 arising from PNE's transition of customers to default service, prompted by a default at ISO New England, the PUC had required PNE to maintain an escrow account with a minimum amount of $200,000

The PUC found that based on PNE's current levels of sales, allowing a reduction of PNE’s surety to $100,000 in escrow is appropriate.

"We also find that a semi-annual (every 6 months) sales reporting period for the specific purpose of adjusting PNE’s surety is advisable. We order such semi-annual reporting, in addition to and not as a substitute for, the quarterly sales reporting already required of PNE under Puc 2003.03(b)," the PUC said.