Texas PUC Staff File Proposed Interim Broker Registration Form

Staff of the Public Utility Commission of Texas have filed for Commission consideration a proposed interim broker registration form

As previously reported, adopted SB 1497 subjects electricity brokers to a registration requirement and regulation by the Public Utility Commission of Texas (see details here)

The adopted SB 1497 defines "brokerage services" to mean, "providing advice or procurement services to, or acting on behalf of, a retail electric customer regarding the selection of a retail electric provider, or a product or service offered by a retail electric provider."

Apart from contact and related information, the proposed interim registration form would require brokers to file a list of its, "officers, directors. and partners, as applicable."

Additionally, the proposed interim registration form would require brokers to indicate the customer classes that they would serve

The proposed interim registration form would require brokers to list any trade names under which the broker intends to do business. The proposed interim registration provides space for an applicant to list five trade names, but the form itself does not indicate that there is a maximum on the number of trade names that may be used

The proposed interim registration would require that brokers shall update information reported on the registration form to reflect any "substantive changes"

The proposed interim registration form notes that registered brokers must comply with customer protection provisions, disclosure requirements, and marketing guidelines established by the Commission.

"An administrative penalty may be assessed for failure to comply with PURA or Commission rules," the proposed interim registration form states

As previously reported, the proposed interim form is intended to allow compliance with the September 1 effective date for broker registration, and Staff plans to initiate a rulemaking project for broker registration later this year addressing SB 1497, including its requirements subjecting brokers to existing customer protection rules. Staff said that such rulemaking may also address a revised registration form.

Project 49711