Temporary Restraining Order Against PSC "Full Stop" Retail Market Orders Extended Further

The temporary restraining order applicable to certain orders contained in the New York PSC's "full stop" retail market order has been extended again, until May 20, 2016, Genie Energy told investors in reporting earnings this morning.

Previously, the temporary restraining order has been extended until May 6 in anticipation of a hearing on the order; however, such a hearing has apparently been pushed back until May 20

Genie Energy told investors that it would not be surprised if the hearing date was moved again.

Genie Energy also said that discussions between industry representatives and the PSC are ongoing.

The temporary restraining order applies to Ordering Clauses #1-3 of the PSC's order (listed below)

The temporary restraining order was in response to petitions from various ESCO parties seeking an order declaring the PSC's order void, for various legal deficiencies

The judge had further ordered the PSC to show cause why the court should not grant an order staying enforcement of Ordering Clauses #1-3 and preliminarily enjoining the PSC from enforcing such Ordering Clauses

Ordering Clauses #1-3 from the PSC's February 23 order were as follows:

1. Consistent with the body of the Order and subject to the exceptions described therein, effective ten calendar days from the date of this Order, energy service companies (ESCOs) shall only enroll new residential or small non-residential customers (mass market customers) or renew existing mass market customers in gas or electric service if at least one of the following two conditions is met: (1) enrollment where the contract guarantees that the customer will pay no more than were the customer a full-service customer of the utility; or (2) enrollment based on a contract for an electricity product derived from at least 30% renewable sources.

2. ESCOs must receive affirmative consent from a mass market customer prior to renewing that customer from a fixed rate or guaranteed savings contract into a contract that provides renewable energy but does not guarantee savings.

3. For each ESCO that intends to enroll new mass market customers or renew existing mass market customers once Ordering Clause No. 1 has gone into effect, the Chief Executive Officer (CEO) or equivalent corporate officer of the ESCO must make a filing by 4:00pm on the tenth calendar days after the date of this Order certifying that any enrollments will comply with the conditions of this Order.