Texas Retail Provider To Pay $10,000 Under Settlement With PUCT Staff

American Power Net Management, LP (American PowerNet) would pay $10,000 under a Settlement Agreement with Staff of the Public Utility Commission of Texas to resolve alleged violation of 16 Texas Administrative Code (TAC) § 25.107(i)(5), concerning an alleged failure to timely file annual and semi-annual reports.

The settlement states, "On April 22, 2016, American PowerNet filed an incomplete annual report because it failed to include the required financial compliance documentation. American PowerNet filed its complete annual report with the financial information on May 4, 2016, 60 days after the March 5 deadline."

The settlement states, "Also in reporting year 2016, American PowerNet filed its semi-annual report on November 1, 2016, 78 days after the August 15 deadline."

The settlement states, "In reporting year 2017, American PowerNet filed its annual report on September 27, 2017, 174 days after the March 5 deadline."

The settlement states, "In reporting year 2018, American PowerNet provided Commission Staff with its semi-annual report on January 24, 2019 in response to Commission Staff's requests for information, 162 days after the August 15 semi-annual report filing deadline."

The settlement states, "to mitigate the occurrence of similar violations in the future, American PowerNet has engaged a third employee to provide additional hours dedicated to and focused on compliance matters such as the timely filing of annual and semi-annual reports. American PowerNet has also implemented an electronic compliance calendar accessible to all employees with administrative responsibilities, which provides notifications in advance of filing deadlines to ensure timely compliance with submitting its annual and semi-annual reports."

Docket 49408