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PUC Revokes Licenses Of Retail Supplier, Brokers; More Proposed To Be Revoked
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The Pennsylvania PUC on September 20 issued a final order to revoke the electric generation supplier licenses of Grand Energy LLC (retail supplier); Best Practice Energy LLC (broker); and Invision Energy Advisors LLC (broker) for what the PUC found to be failure to provide to the PUC proof of the required financial security in the manner required by the PUC
As previously reported, Best Practice Energy LLC was recently acquired by Environ Energy, which operates under a separate, distinct license which is not affected by the order.
Separately, the Pennsylvania PUC on September 21 issued a tentative order under which the PUC would conclude that three retail electric suppliers and two brokers failed to file proof of security in the format approved by the PUC. The September 21 tentative order proposes to revoke the license of each entity cited in the tentative order
The September 21 tentative order is not final, and an entity's inclusion within the tentative order should not be construed as a finding that the supplier has not complied with any rule or regulation. Similar prior tentative orders from the PUC have included erroneous information
Inclusion in the tentative order does not necessarily mean that an electric generation supplier (EGS) does not have the required security, but rather that the PUC alleges that the EGS has not demonstrated compliance in the specific manner required by the PUC.
Notably, the alleged compliance deficiencies alleged in the September 21, 2023 tentative order are as of September 12, 2023, and ostensibly would not reflect any resolution of the matters beyond such date.
Entities may challenge the draft findings of the tentative order, or otherwise come into compliance by a deadline established in the tentative order, in order to avoid license revocation
Such tentative orders are routinely issued by the PUC, and historically most active entities included within a specific order demonstrate compliance by the deadline
The identity of suppliers and brokers subject to the September 21 tentative order can be found in the tentative order here (Pa. PUC Docket M-2023-3037455)
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September 21, 2023
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Copyright 2010-23 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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