|
Deferred
Balances Task Force
On
July 31, 2002, Governor McGreevey signed Executive
Order No. 25 creating the Deferred Balances
Task Force. The Task Force was charged with examining
the estimated $1 billion in deferred balances that electric
utility companies have accumulated since the passage
of the Electric Discount and Energy Competition Act
(EDECA) in 1999.
Deferred
balances are losses accumulated by utilities when the
cost of purchasing electricity exceeds the capped rates
they are allowed to charge customers. Under EDECA, ratepayers
are responsible for repaying reasonably incurred deferred
balances.
The
Task Force was directed to issue a report addressing
the reasons why the deferred balances were accumulated,
what mitigation steps utilities took to reduce deferred
balances and how they ought to be addressed to best
protect the interests of ratepayers, including an evaluation
of the merits of securitizing deferred balances.
The
Task force has completed its report
(pdf 440k), including its recommendations for minimizing
the burden on ratepayers, and submitted it to the Governor.
(appendices
(pdf 342k))
In
conducting its investigation, the Task Force solicited
input from relevant constituencies in the form of a
questionnaire. The
following individuals and organizations have responded
to this inquiry. You can view the complete text of these
responses by clicking on the name of each individual
or organization.
Interest
Groups
Legislators
Utilities
A number of other individuals and organizations were
sent questionnaires but did not respond.
|
