UGI Utilities Seeks Change To Supplier Master Agreement For Default Service

UGI Utilities, Inc. – Electric Division requested approval from the Pennsylvania PUC to change its Supplier Master Agreement (SMA) governing electricity default service supply to increase the pool of suppliers who may bid in UGI's default service procurements

Specifically, UGI proposes to incorporate, in the SMA, the International Swaps and Derivatives Association, Inc. 2018 U.S. Resolution Stay Protocol ("ISDA U.S. Stay Protocol")

Adding the ISDA U.S. Stay Protocol would permit Global Systematically Important Banks ("GSIBs") to compete as bidders in UGI's default service procurements

The PUC previously approved a similar request from PECO concerning PECO's default service SMA

UGI said, "UGI Electric is aware of one potential supplier that cannot participate in the Company's wholesale auctions without adoption of the requested changes herein. It is also UGI Electric's understanding based upon PECO's filing that GSIBs are active in the energy markets and that certain GSIBs participated in PECO's default supply auctions prior to the adoption of the U.S. Stay Regulations."

UGI said that no parties to its most recent default service proceeding oppose UGI's sought relief

UGI sought PUCO approval such that GSIBs would be authorized to participate in wholesale default supply auction scheduled for July 30, 2026.

Docket P-2024-3049343