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PUCT Defers Clearview Electric Suspension Order to Consider Shorter Compliance Deadline
September 16, 2011
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The PUCT yesterday deferred action on a proposed order which would suspend, but not revoke, the REP certificate of Clearview Electric (38446).
Under the proposed order, Clearview would be allowed to post a $30,000 letter of credit, rather than $500,000, during the suspension, under which it would be permitted to serve its existing 28 customers in ERCOT, but would not be permitted to serve new customers in ERCOT.
As previously reported, the Commission previously indicated a willingness to accept the proposed order provided that, among other things, a time limit be placed on the suspension, with revocation to occur immediately if Clearview did not come into full compliance with the certification rules by that deadline.
As only noted by Matters earlier this week (9/14), Clearview and Staff had proposed that such a deadline for compliance be June 30, 2013.
That nearly two-year suspension period was too long for the Commissioners, as Chairman Donna Nelson suggested a deadline of December 31, 2012 for full compliance. The PUCT deferred consideration of the matter until its next open meeting to allow Clearview to determine if it is willing to accept the December 31, 2012 deadline.
Additionally, the Commission clarified that should the bank backing the $30,000 letter of credit terminate such letter of credit (such as by failing to renew), prior to any replacement being filed, revocation shall occur. This clarified a previously agreed to provision that the letter of credit may not be withdrawn prior to a replacement being filed.
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