New York Retail Suppliers Seek Extension Of Compliance Deadline For New Law Governing Registration Of Brokers, Consultants

The Retail Energy Supply Association (RESA) requested from the New York PSC an extension of the deadline for compliance with Section 66-t, the new energy broker & consultant law, of the Public Service Law (PSL) until sixty (60) days after the Public Service Commission (Commission) issues a decision on the Department of Public Service Staff’s (DPS Staff) Proposal Regarding Registration of Energy Brokers and Energy Consultants

See background on the DPS Staff Proposal to implement the new law here

RESA noted that the provisions under the new statute governing the registration of brokers and consultants, PSL section 66-t, are to take effect 180 days after enactment -- on June 21, 2023.

However, DPS Staff's proposal to implement the new broker/consultant law remains pending before the PSC

"[B]ecause the Commission has not issued a decision on the Proposal, those subject to the new law do not have the necessary guidance to ensure compliance with its requirements," RESA said

RESA noted that the Commission’s next session is not until June 22, 2023, one day after the law becomes effective

"Because the Commission may change the requirements of the Proposal once it renders a decision, postponement of the compliance date until after the date of that decision will eliminate the burden on those subject to PSL section 66-t of implementing operational changes that may not ultimately be necessary; thereby, avoiding wasted time and resources," RESA said

"Moreover, once the Commission issues a decision on the Proposal, energy brokers, energy consultants, ESCOs, and others subject to the requirements of PSL section 66-t and the Proposal will require time to implement those requirements. For example, energy brokers and consultants will need time to apply for and receive their registrations. Although DPS Staff proposed an application form for the Commission’s consideration, the form has not yet been adopted. In addition, ESCOs will require time to modify, reprint and distribute revised Customer Disclosure Statements in order to include energy broker and consultant compensation. Further, ESCOs will need to alert personnel to this change and train them about what it means. However, as of today, the exact disclosure requirements have not yet been established," RESA said

"In order to avoid the time and expense associated with any further extension requests, an extension of the compliance deadline based on the date on which the Commission issues a decision on the Proposal would be appropriate. Thus, for all the foregoing reasons, RESA respectfully requests an extension of the deadline for compliance with PSL section 66-t until sixty (60) days after the Commission issues a decision on the Proposal," RESA said

Case 23-M-0106