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December 6, 2013
NEM Winter Executive Committee Meeting

Please mark your calendar and plan to join us for our Winter Executive Committee Meeting on January 27-29, 2014. The meeting will be held at SCRA headquarters located at 5300 International Blvd., Charleston, South Carolina. Many thanks to Bill Mahoney and SCRA for once again hosting this important meeting. Please REGISTER at your earliest convenience so that we can plan for an appropriate amount of meeting materials. NEM has a block of rooms available at the Hilton Garden Inn for meeting attendees.

NEM Annual National Energy Restructuring Conference

Please mark your calendars and plan to attend NEM’s Annual National Energy Restructuring Conference to be held April 29th-May 1st, 2014. This Conference is NEM’s premier event in which we host top energy industry regulators and legislators to share their views on the cutting edge issues in competitive energy markets. Registration is available at this hotlink. Accommodations are available at the Embassy Suites Washington, DC - Convention Center at this hotlink.

New Jersey
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Order on POR Program Requirements

One of the requirements included in the Board's recent Order on POR programs was that the utilities that drop customers to dual billing based on customer arrearages provide third party suppliers with monthly arrearage reports. The Board also required the utilities to provide a daily arrearage report to TPSs on the day that a switch request is made as to whether a customer's account is 60 days or more in arrears. RECO sought a waiver of the reporting requirement because it does not drop customers to dual billing in its POR program. NJNG, SJG and ETG subsequently sought the same relief. The Board has approved the utilities request for a waiver of the reporting requirement premised on their continuation of the practice of not dropping customers to dual billing. The full text of the Order is available on the NEM Website.

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Commission Considering Changes to Electric Supplier Bonding Requirements

Following up on another issue raised in its Retail Market Investigation, the Commission issued a Tentative Order proposing a change in electric supplier bonding requirements. The Commission found that maintaining the current requirement for an initial bonding amount of $250,000 for the first year of an electric supplier's operations is reasonable and should be retained. However, the Commission reasoned that the subsequent requirement of a bond or LOC in the amount of 10% of annual gross receipts may be excessive and should be adjusted to 5%. The Commission also proposed to expand the types of accepted security instruments as follows:

"• Parental guarantee, in a form acceptable to the Commission, where the parent maintains an investment-grade long-term bond rating from two of the four rating agencies:

Standard & Poors - BBB- or higher
Moody’s Investors’ Services - Baa3 or higher
Fitch IBCA - BBB- or higher
Duff and Phelps Credit Rating Company - BBB- or higher

• Segregated cash accounts, held by federally insured financial institutions, specific to Pennsylvania customers and callable only by the Commission

• A mix of bonds; LOCs; Parental guarantees and/or segregated cash accounts as set forth above sufficient meet the required security in the amount of 5% of annual gross receipts."

In addition to these changes, the Commission requests comment on whether these changes can be implemented prior to or without a change to its current regulations. Comments are due twenty days after publication of the Tentative Order in the PA Bulletin. The full text of the Tentative Order is available on the NEM Website.

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