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PaPUC Approves PECO’s Modified Default Service Rates
Category: Uncategorized
- Re: Petition of PECO Energy Company For Approval To Modify Its Default Service Supplier Master Agreement at Docket P-2023-3045119.
- During the public meeting, Pennsylvania PUC Chair Stephen DeFrank said, “I take this opportunity to encourage all applicable electric distribution companies (EDCs) to review their SMAs to ensure the agreements do not inadvertently prohibit participation from well-qualified wholesalers,”
- “Furthermore, I welcome reviewing additional proposals advanced by EDCs to remove any unnecessary restrictions set forth in the current terms and conditions of their SMAs.”
- The Chairman’s statement was made while discussing and approving a proposed change in the PECO SMA which is meant to increase bidder participation.
- PECO’s revised SMA approved today now incorporates the 2018 International Swaps and Derivatives Association, Inc. (ISDA) U.S. Resolution Stay Protocol into the SMA.
- PECO had said that this addition would enable market participants subject to the regulations issued by the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (U.S. Stay Regulations) to participate in the Company’s default service auctions.
- PECO’s petition stated that certain wholesale suppliers subject to the U.S. Stay Regulations had not been able to participate in the Company’s default service supply solicitations because the SMA had lacked the ISDA U.S. Resolution
Order (02/01/2024)
Chairman’s Statement
Vice-Chair made a verbal statement
P-2023-3045119
