The New Jersey Board of Public Utilities (“Board” or “BPU”) issued an Order on November 18, 2020 regarding amounts that are tracked under Section 15.9 of existing or prior BGS Supplier Master Agreements but that have not yet been paid to past and current BGS Suppliers. The Board ordered that such amounts be released upon submission by the BGS Supplier of a mutually agreeable letter of credit for 50% of the owed amounts along with an explicit agreement on remedies should a BGS Supplier fail to maintain appropriate credit, fail to refund as required, or if final refund amounts are different from disbursed amounts.
The EDCs have tentatively scheduled a call with affected BGS Suppliers for 9 AM on Thursday, December 17 as an initial follow-up on the Board’s Order. Please respond “YES” to this message if you are available and plan to participate.
December 14, 2020.