RG&E Reports Gas Uncollectibles Exceed POR Discount Rate

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March 4, 2011  

Rochester Gas & Electric reported that, for the first eight months of 2010, actual uncollectible write-offs for gas customers participating in its Purchase of Receivables program exceeded the discount rate applied to purchased receivables.

From January 2010 through August 2010, RG&E reported that actual gas write-offs as a percent of receivables purchased were 2.75%, in contrast to the POR discount rate applied to receivables of 1.74%. The report covered only the months of January through August to align the POR reporting period with RG&E's new distribution rate year.

For gas, total write-offs in excess of discounts were $431,409. This amount will be deferred for future recovery.

In contrast, RG&E reported that for the first eight months of 2010, its electric POR program resulted in revenue of $122,516 in excess of actual write-offs. The actual write-offs for amounts billed under electric POR was 0.72%, versus the applied discount rate of 0.91%. The excess revenue will be applied to the Asset Sale Gain Account.

As of August 2010, 22 electric ESCOs and 17 gas ESCOs were participating in the POR program, serving 74,641 electric customers and 55,452 gas customers.

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