| (C) Unencumbered resources. All cash and other instruments
listed in subparagraph (A) of this paragraph as evidence of financial resources
shall be unencumbered by pledges for collateral. These financial resources
shall be subject to verification and review prior to registration of the aggregator
and at any time after registration in which the aggregator relies on the cash
or other financial instrument to meet the requirements under this subsection.
The resources available to the aggregator must be authenticated by independent,
third party documentation.
(D) Credit ratings. To meet the requirements of this paragraph,
a aggregator may rely upon either its own investment grade credit rating,
or a bond, guaranty, or corporate commitment of an affiliate or another company,
if the entity providing such security is also rated investment grade. The
determination of such investment grade quality will be based on the ratings
of either Standard & Poors (S&P) or Moody's Investor Services (Moody's).
If the investment grade credit rating of either S&P or Moody's is suspended
or withdrawn, the REP must provide alternative financial evidence consistent
with this paragraph within ten days of the credit downgrade.
(E) Disclosure to financial backers. A person registering under
this paragraph shall provide evidence that a copy of this rule has been provided
to any party providing, either directly or indirectly, financial resources
necessary to protect customers pursuant to this paragraph.
(F) Ongoing Responsibilities. A person registering under this
paragraph is subject to the ongoing financial requirements and other applicable
post-registration requirements of subsection (i) of this section.
(2) Alternative financial qualifications for limited registration.
A person seeking registration pursuant to this paragraph is limited to aggregating
only customers who seek to contract for 250 kilowatts or more, per customer,
of peak demand electricity. Requirements for registration on this limited
basis are as follows:
(A) The person shall provide the commission a signed, notarized
affidavit indicating that it has a written consent from each customer it wishes
to serve, stating that the customer is satisfied that the aggregator can provide
aggregation services without establishing the cash and credit resources prescribed
in paragraph (1) of this subsection.
(B) The person shall complete portions of the registration
request form other than the information prescribed in paragraph (1) of this
subsection;
(C) A person registering on the basis of this paragraph is
subject to the applicable post-registration requirements of subsection (i)
of this section.
(h) Registration procedures. The following procedures apply
to all entities seeking to register pursuant to this section:
(1) A registration request shall be made on the form approved
by the commission, verified by oath or affirmation, and signed by a registering
party owner or partner, or an officer of the registering party. The form may
be obtained from the Central Records division of the commission or from the
commission's Internet site. Each registering party shall file its form to
request registration with the commission's Filing Clerk in accordance with
the commission's procedural rules, Chapter 22 of this title, Subchapter E
(relating to Pleadings and Other Documents).
(2) The registering party may identify certain information
or documents submitted that it believes to contain proprietary or confidential
information. Registering parties may not designate the entire registration
request as confidential. Information designated as proprietary or confidential
will be treated in accordance with the standard protective order issued by
the commission applicable to requests to register as an aggregator. If and
when a public information request is received for information designated as
confidential, the registering party has the burden of establishing that information
filed pursuant to this rule is proprietary or confidential.
(3) An application shall be processed as follows:
(A) The registering party shall immediately inform the commission
of any material change in the information provided in the registration request
while the request is pending.
(B) The commission staff shall review the submitted form for
completeness. Within 15 business days of receipt of an incomplete request,
the commission staff shall notify the registering party in writing of the
deficiencies in the request. The registering party shall have ten business
days from the issuance of the notification to cure the deficiencies. If the
deficiencies are not cured within ten business days, the staff will notify
the registering party that the registration request is rejected without prejudice.
(C) Based upon the information provided pursuant to subsections
(e), (f), and (g) of this section, the commission shall determine whether
a registering party is capable of fulfilling customer protection provisions,
disclosure requirements, and marketing guidelines of PURA.
(D) The commission shall determine whether to accept or reject
the registration request within 60 days of the receipt of a complete application.
Unacceptable registrations will be rejected without prejudice to refiling.
(i) Post-registration requirements.
(1) An aggregator may not refuse to provide aggregation services
or otherwise discriminate in the provision of aggregation services to any
customer because of race, creed, color, national origin, ancestry, sex, marital
status, source or level of income, disability, or familial status; or refuse
to provide aggregation services to a customer because the customer is located
in an economically distressed geographic area or qualifies for low-income
affordability or energy efficiency services; or otherwise unreasonably discriminate
on the basis of the geographic location of a customer.
(2) An aggregator shall comply with the commission's education,
disclosure, and marketing guidelines and rules, including those pertaining
to customer protection and the filing of regular reports on customer complaints.
An aggregator may not release proprietary customer information to any person
unless the customer authorizes the release in a manner approved by the commission.
An aggregator shall disclose to customers, when a customer requests aggregation
services, all of its trade or commercial names, any agency relationships with
REPs, and its sources of compensation for the provision of aggregation services.
(3) An aggregator shall update any changes to business name,
address, or phone number within ten business days from the date of the change.
(4) An aggregator shall notify the commission within 30 days
of any material change to its registration request, or if the registrant ceases
to meet any commission requirements.
(5) An aggregator may amend its registration by providing only
the information relevant to the amendment on the registration form. The amendment
shall be submitted pursuant to subsection (h)(1) of this section.
(6) An aggregator shall file an annual report with the commission
on September 1 of each year on a form approved by the commission.
(7) An aggregator that is required to demonstrate financial
qualifications specified in subsection (g)(1) of this section are subject
to the following ongoing conditions:
(A) The aggregator shall maintain records on an on-going basis
for any advance payments received from customers. Financial resources required
under subsection (g)(1)(A)-(C) of this section, shall be maintained at levels
sufficient to demonstrate that the registrant can cover all advanced payments
that are outstanding at any given time.
(B) The aggregator shall file a sworn affidavit demonstrating
compliance with subsection (g)(1)(A)-(D) of this section within 90 days of
receiving the first payment for aggregation services before those services
are rendered.
(C) Financial obligations to customers shall be payable to
them within 30 business days from the date the aggregator notifies the commission
that it intends to withdraw its registration or is deemed by the commission
not able to meet its current customer obligations. Customer payment obligations
shall be settled before registration is withdrawn.
(D) Financial resources required pursuant to subsection (g)(1)
of this section shall not be reduced by the aggregator without the advance
approval of the commission.
(E) The annual update required by paragraph (6) of this subsection
shall include a sworn affidavit attesting to compliance with subsection (g)(1)
of this section, and an explanation of the methodology for that compliance.
Cont'd... |
