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Brokers/Consultants Now Allowed To Use Bonds In Licensing Process
Stay tuned for further New York Public Service Commission (PSC) guidance as to how and when letter of credit may be substituted with bonds.
As reported previously, the New York State Supreme Court for Albany County issued an order reversing the New York Public Service Company (NY PSC’s) decision to eliminate bonds as an acceptable form of financial security for retail energy brokers and consultants under the state’s licensing regime under PSC § 66-T.2.
The court ruled that the intent of the legislature was to allow bonds as an acceptable method of showing financial accountability and that the PSC went too far in restricting the acceptable financial securities that applicants could post as part of the licensing process.
NYSERDA announced a Large-Scale Thermal Solicitation (PON 5614) with up to $750,000 available to design a large-scale thermal system for large buildings and campuses. Proposals are due by July 31, 2025.
