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Viridian Energy Receives District of Columbia, Washington DC Electric Supplier License

Viridian Energy Receives Washington DC - District of Columbia Electric Supplier License

We first reported back on 6/03/11 that Viridian Energy submitted an Application for license to supply electricity generation services to the public in the District of Columbia in the Potomac Electric Power Company (Pepco) service territory.

Today, after a complete review of the application, the Washington DC - District of Columbia Public Service Commission finds that granting the application of Viridian Energy PA LLC will serve the public interest. The information contained in its application demonstrates that the Applicant has the ability and the financial integrity to serve electricity customers in the District of Columbia.

The Public Service Commission of the District of Columbia ("Commission") grants a license to Viridian Energy PA LLC ("Viridian Energy" or"Applicant") to function as an electricity supplier in the District of Columbia. Specifically, Viridian Energy intends to operate as a marketer of electricity for residential, commercial and industrial customers in the District of Columbia.

Check back often, Viridian Energy has not officially announced when customer enrollment or marketing to customers will begin.

*** It is important to note that currently Viridian Energy enters into markets that participate in the POR (Purchase of Receivables) program.  There is not an active POR (Purchase of Receivables) program in the District of Columbia. The District of Columbia has initiated a review of the need for it and is currently accepting comments on the matter.

Pepco currently has a POR program in it's Maryland Market where Viridian Energy is actively marketing and enrolling customers.  Pepco' s initial comments pursuant to the District of Columbia's Public Service Commission request for comments about amending the regulations to allow for or require a POR (Purchase of Receivables) program in DC are:

"... the Company would need approximately six months from the time a new regulation is adopted to configure and test the billing system in order for Pepco to be in a position to purchase the receivables of its District of Columbia customers from suppliers. Additional time and resources would be required to develop a POR program for the District of Columbia that varies from the program in place in Maryland."

So if this time frame holds true, it would appear that Viridian Energy will not begin to actively market or enroll customers for a minimum of 6-9 months.