Supplier suspended from N.E. power grid
Taking advantage of natural gas prices, independent power companies supply electricity at rates lower than those of utility companies.
“In general, all market participants who are active in the wholesale electricity markets in New England must maintain a minimum amount of collateral and comply with other financial assurance and billing requirements to participate in the markets,” wrote spokeswoman Lacey Ryan.
In order for PNE to return to the New Hampshire market, the Public Utilities Commission told PNE to pay its customers $9.50 each, an amount that added up to $70,000. Consumer advocates had objected to the penalty as being too low.
Skelton said the People’s Power customers will experience no interruption of service, and they should be on PSNH accounts by this morning. PSNH did not include the 5,700 customers in its forecasts, but Skelton said the utility has become the safety net for power supply in the state.
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