Retail Supplier Withdraws Rate Increase Under Regulatory Change Clause

Agera Energy, LLC informed the Connecticut PURA today (Dec. 24) that, "for various business reasons, including ensuring the satisfaction of its customers, Agera has decided not to pursue a price increase as permitted by its contract for the regulatory change described in the [previously filed] Agera Response ('Regulatory Change')."

As first reported by EnergyChoiceMatters.com, Agera Energy, in Connecticut, had previously invoked the regulatory change clause in contracts with several hundred non-residential customers. For a detailed discussion of the changes that Agera has said authorizes it to invoke the regulatory change clause, see our exclusive prior story here.

Agera said in the letter to PURA that, "Agera will send notice of this decision to affected customers. In addition, Agera is submitting rate changes to the electric distribution companies ('EDCs') for all of the customers that would have been subject to a price increase due to the Regulatory Change ('Price Increase') resetting their prices to the prices in effect before the Regulatory Change ('Rate Change'). For any customers who will be billed for the Price Increase before the EDCs can process the Rate Change, Agera will issue a refund check to those customers for any amounts billed for the Price Increase."

The Milbury-Sutton (MA) Chronicle reported last week that Agera withdrew a price increase that Agera had sought under its opt-out aggregation contract with Sutton, MA