1 The End Of Price Freeze Service (PFS) For Schedule P Customers Presentation To The Maryland Public Service Commission by Wayne Harbaugh March 4, 2002.

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Presentation transcript:

1 The End Of Price Freeze Service (PFS) For Schedule P Customers Presentation To The Maryland Public Service Commission by Wayne Harbaugh March 4, 2002

2 BGE Settlement Agreement (IV. Standard Offer Service. Paragraph 3) “Beginning July 1, 2000 to June 30, 2001, BGE shall provide PFS to Schedule P Option 2 customers.” “Beginning July 1, 2000 to June 30, 2002, BGE shall provide PFS to Schedule P Option 3 customers.”

3 Status and Number of Accounts u PFS ended for 11 accounts June 30, 2001 –9 went with a competitive supplier –2 went on Default Service. One of these has an enrollment pending u PFS ending for 421 accounts on June 30, 2002 –1,058 MW Capacity Peak Load Contribution –about 6.3 million MWH on annual basis

4 Electric Licensed Entities u In BGE’s Territory –22 Suppliers –10 Brokers, Aggregators –10 Suppliers registered with BGE »2 additional ones indicating interest in registering u State-wide –23 Suppliers –11 Brokers, Aggregators

5 Timing of Price Freeze Service End u PFS ends for all Schedule P accounts on June 30, 2002 u Schedule P accounts still with BGE on July 1 will be on Default Service (DS) rates u Bills covering part of both June and July will be prorated and include PFS and DS

6 Enrollment Rules u Enrollments are made by suppliers sending the enrollments to BGE via EDI (Electronic Data Interchange) u Enrollments must be received at least 17 days before the next meter read date to be effective with that meter read u Thus, to avoid DS, the new supplier needs to send BGE the enrollment at least 17 days before the June meter read date

7 Other Enrollment Rules u Only suppliers can enroll customers u Customers will receive confirmation letters u Customers have 10 days to rescind enrollment u If rescinded, a customer will be placed back with their active supplier u In the case of multiple enrollments, the last enrollment received by BGE is used

8 Default Service u Default Service is electric supply provided at wholesale market prices with a 7 mil (0.7 cents) per kWh retail adder u Default Service price includes: –Generation »Energy priced at PJM’s hourly locational marginal prices (LMP) for the Baltimore zone »Peak Load Capacity priced at PJM’s FERC approved daily capacity deficiency rate –Transmission »Ancillary Services priced at PJM FERC approved tariff rates »Transmission priced at PJM’ FERC approved tariff rates

9 Sample Default Service prices u On average, during 2001, a Schedule P customer on Schedule DS would have paid (in cents per kWh): Capacity1.15 Ancillary Services0.24 Transmission0.21 Adder0.70 Energy LMP* * PJM Locational Marginal Price for Baltimore zone

10 BGE Has Been Communicating With Customers u An intensive communication program was implemented last year and continues u Articles in numerous editions of customer newsletters (BGE Connection and Business Express) u Two customer forums for all Schedule P customers –June 13, 2001 and March 19, 2002

11 Customer Forums u Covered topics include: –End of PFS and implications –Enrollment rules –Default Service –Preparing an RFP (6/13/01 meeting) u Suppliers invited to exhibit at both Forums –12 suppliers (38 representatives) attended in 2001 –15 entities (includes brokers) registered for 3/19/02 u 91% of customers somewhat/very satisfied; –86% of suppliers rated it valuable/very valuable

12 Other Communications u End of PFS communicated in Customer Forum invitation letters sent to all Schedule P customers u A letter sent to all Ps in January on end of PFS which included their 12 month bill histories to facilitate customers talking with suppliers u Suppliers sent information on expiration of PFS which they have been sharing with prospects u Reference manual prepared for 2001 Forum and taken to customers not attending Forum

13 Other Opportunities To Communicate End of PFS u Presentations made to various groups such as –AEE Baltimore Chapter as part of panel on PFS end –Maryland Industrial Group meetings in 2001 and 2002 u Involvement with Maryland Energy Institute –Sheldon Switzer on Board of Directors –BGE mailed brochures for April 10, 2002 conference »The fourth Annual Maryland Energy Institute Conference: “The Reality of Buying Electricity in an Open Market in Maryland” »8:30 - 4:30 at Mt. Washington Conference Center

14 Good News! Electric Prices Have Fallen u Wholesale electric forward prices are much lower than 2 years ago

15 Good News! Electric Prices Have Fallen u Examples of wholesale electric rates are much lower than a year ago On-Peak Forecast from: Feb. 2001Feb For June For July For August u Healthy number of responses (7) from last year’s BGE Standard Offer Service Request for Proposals u Additional suppliers showing interest in becoming qualified with BGE