56-588 - Licensing of aggregators.
§ 56-588. Licensing of aggregators.
A. As a condition of doing business in the Commonwealth, each person seekingto act as an aggregator within this Commonwealth on and after January 1,2002, shall obtain a license from the Commission to do so. The license shallauthorize that person to act as an aggregator until the license expires or isotherwise terminated, suspended or revoked. Licensing pursuant to thissection, however, shall not relieve any person seeking to act as a supplierof electric energy from their obligation to obtain a license as a supplierpursuant to § 56-587.
B. As a condition of obtaining, retaining and renewing any license issuedpursuant to this section, a person shall satisfy such reasonable andnondiscriminatory requirements as may be specified by the Commission, whichmay include requirements that such person (i) provide background information;(ii) demonstrate, in a manner satisfactory to the Commission, financialresponsibility; (iii) post a bond as deemed adequate by the Commission toensure that financial responsibility; (iv) pay an annual license fee to bedetermined by the Commission; and (v) pay all taxes and fees lawfully imposedby the Commonwealth or by any municipality or other political subdivision ofthe Commonwealth. In addition, as a condition of obtaining, retaining andrenewing any license pursuant to this section, a person shall satisfy suchreasonable and nondiscriminatory requirements as may be specified by theCommission, including, but not limited to, requirements that such persondemonstrate technical capabilities as the Commission may deem appropriate.Any license issued by the Commission pursuant to this section may beconditioned upon the licensee, if acting as a supplier, furnishing to theCommission prior to the provision of electricity to consumers proof ofadequate access to generation and generation reserves.
C. In establishing aggregator licensing schemes and requirements applicableto the same, the Commission may differentiate between (i) those aggregatorsrepresenting retail customers only, (ii) those aggregators representingsuppliers only, and (iii) those aggregators representing both retailcustomers and suppliers.
D. 1. The Commission shall establish a reasonable period within which anyretail customer may cancel, without penalty or cost, any contract enteredinto with an aggregator licensed pursuant to this section.
2. The Commission may adopt other rules and regulations governing therequirements for obtaining, retaining, and renewing a license to aggregateelectric energy to retail customers, and may, as appropriate, refuse to issuea license to, or suspend, revoke, or refuse to renew the license of, anyperson that does not meet those requirements.
(1999, c. 411; 2000, c. 991.)