PUC Commissioner Warns Retail Suppliers Against Raising Rates To Bolster Financial Condition Due To Problems In Other Markets
March 10, 2021 Email This Story Copyright 2010-21 EnergyChoiceMatters.com
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During a meeting today, Public Utilities Commission of Ohio Commissioner Daniel Conway warned retail suppliers in Ohio against raising rates to Ohio customers to provide revenues and bolster the supplier's financial condition to compensate for financial difficulties the supplier may have encountered in other markets
Conway said that such behavior from suppliers would cause him to question whether the supplier is continuing to meet the financial fitness and other requirements under Ohio's supplier licensing standards.
"My view on the financial capability standard that we use is, if we were to find that ... regarding any competitive supplier, that they would try to raise their prices in Ohio, to their Ohio base of customers, in an effort to bolster their financial condition and provide revenues that they can use to compensate for problems that they face that arise from circumstances outside of Ohio, in my mind, that would be something that we would need to consider in deciding whether to continue to regard that competitive supplier as being capable financially to continue to do business in Ohio," Conway said
Conway said his message to suppliers is that they should think "hard and long" prior to engaging in such behavior of raising Ohio customer rates to provide revenue to cover financial difficulties encountered in other markers