New York Broker Registration
August 10, 2023
RE: NY Broker Registration Rule Summary
Dear TEPA Members & Retail Energy Professionals,
Like many of you, I participated in the technical conference held on August 8th by the New York Department of Public Service regarding the Public Service Commission’s recent regulations relating to the registration of energy brokers and consultants.
I appreciate the Staff's efforts to coordinate a technical session for stakeholders to share their thoughts and questions. The Staff has acted quickly in order to provide clarity around PSL §66-t. However, it is clear there remains concerns about the new law, and the expectation for an extension on the implementation date.
TEPA recognizes that SB9414 was created in an effort by lawmakers to provide consumer protection related to potentially dishonest market participants and business practices. Yet, there is frustration over the new law and proposed rules, particularly regarding the requirements related to the Letter of Credit and Fee Disclosure. Some market participants believe these new requirements discriminate against small businesses that operate in New York.
TEPA will continue to monitor the implementation of this new law and the related rules, regulations and processes. We are confident that working with our energy colleagues, commission staff and legislators, we can advocate for purposeful revisions that equally protect consumers and ensure brokers and consultants are able to do business in New York based on reasonable policies and regulatory requirements that foster a competitive market.
Please join us in advocating for changes that affect our industry. Your expertise, insights, and collective influence can play a pivotal role in making a difference. By combining our voices and efforts, we can work towards reversing or amending the legislation in a manner that ensures fairness, transparency, and growth. Such advocacy is the foundational reason for TEPA’s existence.
Your membership and participation is more important than ever. To further this collaborative effort, TEPA will host strategic meetings and information-sharing sessions to provide opportunities for open dialogue, sharing of viewpoints, and the formulation of a collective action plan. Your presence and input are invaluable to this process. We urge you to participate actively.
TEPA members can also stay updated, comment and collaborate by visiting our NY Broker Registration Rule Summary Forum on our website.
Thank you,
Shannon McGriff
Executive Director
April 29th, 2024
Dear TEPA Members & Retail Energy Professionals,
As part of our ongoing commitment to keep you informed and engaged in the regulatory landscape affecting our industry, I want to provide you with an update on recent developments concerning the New York Public Service Commission's (PSC) Declaratory Ruling and Order on Rehearing, issued on April 18th. In addition, I've attached our updated summary document with the changes and new deadlines.
The PSC has clarified significant points regarding the registration of energy brokers and consultants as stipulated under Public Service Law §66-t. Notably, the Order allows for continued payment to unregistered brokers or consultants for contracts entered prior to the registration deadline. Furthermore, the PSC has removed the requirement for third-party verification to inquire about compensation disclosure by Energy Brokers or Consultants.
Despite these adjustments, the Order leaves much unchanged, and it is clear that further action is necessary. We have a narrow window in the current legislative session to advocate for change and plan to move quickly.
Your active participation will be necessary to advocate for changes that equally protect consumers and ensure brokers and consultants are able to do business in New York based on reasonable policies and regulatory requirements that foster a competitive market. I will be in touch with next steps.