4901:1-24-14 Financial security.

(A) Pursuant to a tariff filed with the commission in accordance with rule 4901:1-10-29 of the Administrative Code, an electric utility may require a retail electric generation service provider to issue and maintain financial security with the electric utility to protect the electric utility in the event that the retail electric generation service provider fails, in whole or in part, to deliver contracted retail generation service to a customer for which the electric utility supplied to the customer in its capacity as default supplier.

(B) An electric utility may require a retail electric generation service provider to furnish financial and other information contained in its tariff to determine the type and/or amount of the financial security required for compliance with paragraph (A) of this rule.

(C) If a retail electric generation service provider fails to maintain sufficient financial security to protect an electric utility from default by the retail electric generation service provider, the electric utility may apply for relief at the commission. In accordance with rule 4901:1-24-13 of the Administrative Code, the commission, upon its own motion or upon complaint, may suspend, rescind, or conditionally rescind a retail electric generation service provider's certificate for failure to maintain sufficient financial security at any electric utility as required by this rule.

Replaces: 4901:1-24-08

Cite as Ohio Admin. Code 4901:1-24-14

Effective: 12/01/2014
Five Year Review (FYR) Dates: 07/25/2019
Promulgated Under: 111.15
Statutory Authority: 4928.06, 4928.08
Rule Amplifies: 4928.14, 4928.16
Prior Effective Dates: 9/18/00, 6/29/09