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State's Largest Utility Receives Approval To Serve 50% Of Mass Market Default Service From ISO Market Purchases (Self-Serve)
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The New Hampshire PUC approved without modification Public Service of New Hampshire's (Eversource) proposal to serve 50% of its small customer group default service load from ISO New England market purchases, on a self-serve basis, for the August 2025 to January 2026 period
PSNH will primarily rely on the day-ahead market for the 50% of the default service (energy service) supplies to be served by ISO-NE market purchases
For the 50% self-serve load, PSNH will be a price-taker at whatever price level the ISO-NE market settles
PSNH currently relies on ISO-NE market purchases for 30% of small customer SOS
The proxy price mechanism that PSNH currently uses to set a 6-month fixed default service retail rate for small customers will generally continue unchanged. However, due to a stated lack of availability of forward power prices published directly by NYMEX, Eversource will rely on a third-party vendor, OTC Global Holdings, to provide futures price curves as a NYMEX pricing index replacement.
The remaining 50% of small customer default service will be served on non-laddered full requirements contracts
PSNH will continue to rely on ISO-NE market purchases for 100% of large customer SOS
In approving PSNH's plan, the PUC reiterated its findings at other EDCs in support of greater use of ISO market purchases for SOS, and again rejected concerns raised by retail suppliers. See a discussion of such findings and retail supplier concerns in our prior story here
Concerning the adopted proposal, the PUC said, "We ... expect that this proposal will support more competitive energy market outcomes in line with the Restructuring Policy Principles incorporated by statute. We find that Eversource's market-based rate projections, including proxy price development as currently applied, embedded in its proposal are also just and reasonable, and will produce rates that are predictable, transparent, and reflective of energy market conditions."
The PUC said, "We note with particular interest the findings of $2.2 million in savings for Small Customer Group ES [default service] customers resulting from a 12.5 percent market-based procurement level presented in Hearing Exhibit 11, which is an encouraging sign for the future of the program, including for the ongoing current period with 30% self-supply level for the Small Customer Group, and bolsters our approval of the higher, 50 percent, self-supply procurement level for the Small Customer Group for the period August 1, 2025 to January 31, 2026."
Docket DE 24-046
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April 16, 2025
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Copyright 2025 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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