New Jersey Governor Approves Laws Streamlining Retail Energy Supplier License Renewals

New Jersey Governor Phil Murphy has approved S604 and S605, streamlining the license renewal process for electric and natural gas suppliers

The laws generally replace the current licensing renewal process, which require formal approval by the board, with an annual information update and filing fee.

Licenses would still be effective for only one year, but may be renewed through an annual filing process.

For example, S604 provides that an electric supplier license shall not expire so long as the licensee pays to the board, within 30 days before the anniversary date of the last approved licensing application, a license renewal fee, as determined by the board, accompanied by an annual information update on a form prescribed by the board.

The annual information update shall be limited to the following information:

(a) the information required of an electric power supplier for an original license application

(b) a copy of the electric power supplier’s most recent quarterly New Jersey sales and use tax report;

(c) the electric power supplier’s most recent 12-month and calendar year sales volume in New Jersey, by customer class;

(d) whether the electric power supplier, or any of the electric power supplier’s key operating personnel, officers, directors, partners, owners, or listed stockholders have been subject to or are subject to any regulatory investigations or disciplinary proceedings connected with the sale of electricity in any other state or federal jurisdiction;

(e) whether the electric power supplier, or any of the electric power supplier’s key operating personnel, officers, directors, partners, owners, or listed stockholders have filed for bankruptcy in the last seven years or are the subject of any current bankruptcy proceedings; and

(f) any certifications necessary, as determined by the board.

Essentially identical provisions were adopted for natural gas supplier licenses (S605)