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From Eversource’ Letter Re: Proposed POR Program Status:

{***} “On behalf of Public Service Company of New Hampshire d/b/a Eversource Energy (“Eversource”), I write to urge the Commission to approve the proposed tariff amendments and supplier contract revisions submitted in Phase 2 of this proceeding that provide for the implementation of Eversource’s purchase of receivables (“POR”) program. All parties have supported those tariff amendments and contract revisions, as confirmed by the record adduced during the January 29th hearing held before a Commission hearings examiner. 

Eversource has continued to work toward a target effective date of May 1, 2025, but that go-live date is subject to execution of the revised contract forms by all suppliers using consolidated billing service as well as Commission approval of the updated Discount Percentage Rate applicable to POR payments to suppliers. Further delay may also result in logistical consequences and potentially increased costs associated with necessary internal systems modifications. 

Accordingly, Eversource respectfully requests that the Commission approve the proposed tariff amendments and revisions of the Electric Supplier Services Master Agreement form at the earliest possible time.” {***}

Excerpts from Hearing Examiners Report:

{***} “The proposed implementation has been defined as follows in the Tariff: 

Implementation of POR Program 

The effective date of the Company’s POR program shall be the later to occur of either (i) May 1, 2025, or (ii) the first day of the month following notice by the Company to the Commission that all system modifications necessary to implement the POR program have been completed, tested, and are fully operational. 

Pursuant to the terms and conditions of the Electric Supplier Services Master Agreement with a Participating Supplier, the Company shall pay the Supplier for amounts already existing as outstanding accounts receivables of the Supplier, within thirty (30) days following the initial implementation date of the Company’s POR program. The amounts payable for purchase of such existing accounts receivables shall be subject to the DPRcc as calculated by the Company pursuant to subsection 9(d) above, and shall be subject to full reconciliation in accordance with the PPRPcc provisions in subsection 9(d)(1)(ii) above. 

Pursuant to the terms and conditions of the Electric Supplier Services Master Agreement with a Participating Supplier, the Supplier shall grant to the Company a first priority perfected security interest in and to the accounts receivable that the Company will be purchasing through its POR program, including any such accounts receivable that have not yet been billed. A Participating Supplier shall be authorized by the Company to place a security interest on the accounts receivable from the Company to the Participating Supplier associated with the purchase by the Company of the Participating Supplier’s accounts receivable. 

See Hearing Exhibit 6 at 21. 

Mr. O’Brien testified that Eversource expects to file its initial DPR calculation in late winter/early spring 2025 and would seek for approval of the DPR rate 30-60 days later. See Hearing transcript at 14. Eversource was looking at May 1st as the implementation date for the POR program.1 The implementation timeline assumes that all Supplier agreements have been signed and returned. Furthermore, even if Eversource does not have the returned, signed Supplier agreement, Mr. Donyavi confirmed that POR will be implemented uniformly for all suppliers that have a complete load of customers. See Id. 

Eversource noted that the calculation of the May 1, 2025, implementation date was contingent on the Company working through all the necessary system updates and items that require to implement the POR program in NH.

{***} “IV. HEARING EXAMINER’S RECOMMENDATIONS TO THE COMMISSION 

The Commission has previously approved the formula necessary to calculate the DPR. See Order No. 27,049. In order to implement the DPR, updates to the ESSMA and Tariff are necessary. The Company’s initial proposal for its revised ESSMA and Tariff was met with general support from the parties; however, universal agreement was not reached until December 2024. See Eversource’s October 16, 2024, Motion to Continue, Eversource’s November 22, 2024, Status Report and Eversource’s December 16, 2024 submission of its revised agreements with cover letter indicating all parties agreed to the proposed language. 

The ESSMA is designed to outline the terms and conditions between the Company and its Suppliers. In this case, the updates needed surround the implementation of the POR program. Having reviewed the revised ESSMA and Tariff, I find that the documents enable Eversource to begin implementation of the POR program as outlined via Order No. 27,049. Eversource’s implementation plan provides sufficient framework to effectuate the POR program. I RECOMMEND approval of the revised ESSMA and Tariff based on the agreement of all parties and the compelling testimony of the Eversource witnesses. Furthermore, I recommend that the Commission require Eversource to confirm the dates for both submission of its initial DPR rate to the Commission and for implementation of the POR program, given the slight delay in insurance of this hearing examiner report2, with dates certain upon receiving the order approving the proposed revisions. Finally, as discussed at hearing, upon final submission for approval, the Tariff shall be updated to remove the references to the New England Power Pool (NEPOOL) and replace those terms with Independent System Operator of New England (ISO-NE).”  {***}

Hearing Examiner Report  (03/07/2025)
Eversource Energy Status of Phase 2 Tariff and Contract Approval and Program Implementation  (03/07/2025)
DE 23-004  (01/10/2023)
(Eversource Proposed Purchase of Receivables Program)