Updated With Statement From Palmco: PUC Says Applicant, Which Formerly Held Retail Supplier License, Is "Not Managerially Fit" To Hold License, In Addressing Re-application

Updated, 9:18 am ET, 7/9/26

Palmco Power provided the following statement concerning the matter:

"We are disappointed by the Commission's decision, particularly after the recommendations for approval from Staff following their thorough review. We will be reviewing the PUCO's order and will continue to serve our customers around the country with competitive energy products and superior customer service, in compliance with state laws and regulations."

--- Statement from Palmco Power

Earlier (7/8):

The PUC of Ohio has denied the application of Palmco Power OH, LLC for a retail electricity supplier license, and denied the application of Palmco Energy OH, LLC for a retail natural gas supplier license, with PUCO holding that, "Applicant [sic] is not managerially fit and capable of performing as either a CRES [competitive retail electric service] or a CRNGS [competitive retail natural gas] marketer and broker to large commercial and industrial customers in Ohio in compliance with all applicable regulations adopted pursuant to R.C. Chapters 4928 and 4929."

Palmco had applied for electric and gas "marketer" (load serving supplier) and broker licenses, with Palmco proposing to only serve large non-residential customers (the specific customer categories used for electricity and gas differ)

As previously reported, Palmco had exited the Ohio market and was subject to certain stay-out provisions under two settlements to resolve alleged marketing violations. One of the stay-out provisions allows, after July 31, 2024, Palmco to file an application to provide retail supplier service to only large C&I customers

As first reported by EnergyChoiceMatters.com, PUCO Staff had recommended that the Palmco applications be approved, limited to large C&I service

PUCO said in its order denying the applications that, "The Commission recognizes and appreciates Staff’s recommendation in this matter but finds that a combination of factors lead us to a different conclusion. The combination of the previous enforcement actions against Applicant’s leadership and its predecessors by the Commission, the enforcement actions disclosed by Applicant to Staff, and the additional enforcement actions discussed in the Staff Report show that Palmco is not managerially fit to perform as a CRES and CRNGS marketer and broker pursuant to R.C. Chapters 4928 and 4929."

PUCO stated, "filings indicate that regulatory actions have been brought against at least 10 entities in the 14 jurisdictions where the Applicant, its affiliated interests, or entities under common ownership with the Applicant are certified, licensed, or otherwise authorized to provide CRES or CRNGS services. The repeated enforcement actions involving Applicant’s leadership to date are concerning given the number of entities subject to enforcement actions across multiple jurisdictions."

While Palmco has added "new key personnel", PUCO said, "The addition of new personnel does not assuage the Commission’s concerns regarding the numerous enforcement actions against Palmco."

PUCO said that Palmco did demonstrate that Palmco has the financial and technical fitness to perform the service that Palmco intends to provide, and that Palmco can provide reasonable financial assurances to protect against default

Palmco uses the trade name Indra Energy

While PUCO denied the supplier applications from Palmco, PUCO previously granted broker (non-LSE) licenses to CGE Renewables LLC, limited to large commercial, industrial, and mercantile customers

CGE Renewables is affiliated with Palmco Power

Cases 10-138-GA-CRS, 10-139-EL-CRS