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November 16, 2010

MXenergy Seeking Illinois Electric License
MXenergy has submitted an application for an Illinois alternative retail electric supplier license.  A copy of MXenergy's application was not immediately available.

New Jersey Long-Term Contracts Bill Advances
A bill (S2381) which would require New Jersey ratepayers to back long-term contracts for capacity from new, in-state gas-fired generation was approved by the Senate Environment and Energy Committee yesterday.  The committee did reduce the amount of capacity to be procured from 1,500 MW to 1,000 MW and included provisions for generators under the contract to partially refund capacity payments above a certain threshold if market prices are higher than the price in the contract.  EPSA and the PJM Power Providers opposed the bill (statements here and here).  Competitive Power Ventures and LS Power support the bill.

CL&P, UI File New Default Service Rates
Connecticut Light & Power and United Illuminating have filed new supply rates for Standard Service and Last Resort Service:

CL&P Rates are available here under the following tabs:
  Tab Exh 2, 3 of 3: Standard Service Rates
  Tab Exh 3, 3 of 3: Last Resort Service Rates

UI Rates are available here.

Reliant, TXU Offering $300 Incentives
TXU Energy is offering an increased sign-up bonus to customers enrolling onto its 24-month indexed rate plan in the CenterPoint service area.  For two days only (Nov. 16-17), TXU Energy will offer new residential customers in the CenterPoint territory a $300 welcome bonus, which is double the standard amount, in the form of a Visa prepaid card.   TXU's 24-month indexed plan is currently priced at 12.9¢/kWh at CenterPoint (based on 1,000 kWh usage), with a $200 early termination fee.  Reliant, as part of a new advertising campaign launched this week featuring former Dallas Cowboys quarterback Troy Aikman, is offering certain residential customers $300 if Reliant cannot beat their current price on a competitor's electricity bill.  Exact terms of the Reliant program were not immediately available.

BostonGen to Proceed with Sale to Constellation
Boston Generating said that a special committee of its board of directors has determined that no alternative bids for its 2,950 MW fleet met the requirements of a court ordered bidding process, and that Boston Generating should move forward with the asset purchase agreement previously entered into with Constellation Energy.  BostonGen will seek bankruptcy court approval of the $1.1 billion sale on Nov. 17.

Compete Coalition Issues Migration Paper
The Compete Coalition released a paper from Philip O'Connor, former Chairman of the Illinois Commerce Commission, detailing the rise in migration rates over the past several years, and arguing such migration is a sign of retail choice's success.  

   
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