The New Hampshire Public Utilities Commission (Commission) adopted revised financial security regulations for competitive natural gas suppliers that increase the maximum amount required from $350,000 to $500,000.
The revised regulations change the required term for the financial security, which previously had an expiration date not less than five years and 150 days after the date the applicant’s initial application is filed, or five years and 90 days after the date the applicant’s renewal application is filed. The financial security now must have a term of not less than 12 months with a six month extended claims, draws, or demand period. The revised regulations provide that there is no right of cancellation during the initial effective term of the financial security.
Notice of non-renewal of the financial security must be provided in writing to the Commission not less than 60 days prior to the expiration date. The Commission will make claims on the financial security and sets forth the priority of payment that it must follow.
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