Events        Jobs        Contact        Migration Stats        Supplier Lists        Municipal Aggregation
Pa. Supreme Court To Hear Appeal Of PUC Fine Against Retail Supplier

December 14,2017



The Pennsylvania Supreme Court has elected to hear an appeal filed by HIKO Energy of a fine of $1.8 million issued against the company by the PUC, PennLive.com reports

A question on appeal is whether the $1.8 million penalty was "grossly disproportionate" to the fines levied against other suppliers related to polar vortex rates and underlying terms and conditions

See background on the fine here

The PUC in imposing the civil penalty had stated in its order that, "HIKO knowingly and deliberately chose to dishonor its promised and contracted-for savings of 1% to 7% on 14,689 occasions to 5,708 customers, in direct violation of Section 54.4(a) of our Regulations. We find that in so doing, HIKO effectively treated its own customers as the financial guarantors of its own business plan, which backed contracts offering customers guaranteed savings with what was essentially a speculative supply portfolio based exclusively on spot market purchases."



Tags:
Pennsylvania  

Comment on this story


ADVERTISEMENT
NEW Jobs on RetailEnergyJobs.com
TPV-SALES-EXECUTIVE -- Back Office Provider -- Other
Sr-Market-Risk-Analyst -- Wholesale Supplier/Trader -- New York - New York City Metro
Energy-Regulatory-Specialist -- Other -- Other
More Stories on RetailEnergyX.com:
'Tentative' Pa. Order Would Cancel Licenses Of Two Retail Suppliers, Several Brokers
'Tentative' Pa. Order Would Cancel Licenses Of Active Retail Supplier, Brokers
Former Pa. PUC Chair Cawley Recommends Banning, Or 'Reducing' Reliance On, Door-to-Door Sales
Tentative Order Would Cancel Licenses Of 3 Retail Suppliers, 7 Brokers
Federal Court Rules Pennsylvania Business Closure, Stay At Home Orders Are Unconstitutional


comments powered by Disqus





Advertise here:
Email retailenergyx@gmail.com


Events Jobs Contact Migration Stats Supplier Lists Municipal Aggregation

About Disclaimer Privacy Terms of Service

Home


Developed by: Avidweb Technologies inc.