Texas REP Complies With Settlement, Will Retain Certificate

Staff of the Public Utility Commission of Texas have confirmed that Jade Energy, LLC has complied with the terms of a settlement concerning the company's REP certificate, and that the company will maintain its certificate.

See background on the settlement here

A prior consent order, included as part of the settlement, had contemplated revocation of the certificate if certain milestones were not met, but Jade has met the conditions to maintain its license and the consent order will not be executed.

Specifically, Jade had already had the suspension of its certificate lifted by the PUCT, and the only outstanding issue was whether it began serving customers on or before May 14, 2016, as required under the settlement, unless any failure to serve customers was the result of a delayed flight test that was not attributable to Jade.

Jade failed to serve customers by May 14, 2016, but such delay was due to a delay in its flight test that was not attributable to Jade. Jade began serving customers on May 24, 2016. Pursuant to Paragraph 17 of the settlement, PUCT Staff had the discretion to enter the consent order revoking REP Certificate No. 10222 in the event that Jade materially breached the agreement. Commission Staff has determined that Jade did not materially breach the agreement by beginning service on May 24, 2016 because the delay was not attributed to Jade, and Jade did not otherwise materially breach the agreement. Jade has therefore complied with the terms of the settlement agreement and interim order in Docket No. 45576, PUCT Staff said