Smartestenergy logo over Aerial view of Central Park New York

The New York Department of Public Service (DPS) has approved the energy services company (ESCO) application of SmartestEnergy US LLC, a U.K.-based energy company that now has the green flag to offer electricity in New York, according to the DPS.

“I am also pleased to notify you that your company has successfully met the Commission’s electronic data interchange (EDI) phase I certification requirements for all core, bill ready, and/or utility rate ready transactions effective August 12, 2019. All requirements for this initial state of your eligibility determination has been satisfied,” wrote Jessica Phalen, a representative with the New York Office of Consumer Services (OCS).

SmartestEnergy Entrance Into NY Retail Market

The OCS letter does not give a time frame as to when SmartestEnergy can begin offering rates. However, it did note that SmartestEnergy has to move into a new phase of approval in which it has to meet several criteria to operate in New York’s service areas.

Specifically, SmartestEnergy must:

  • Undergo an analysis of its creditworthiness
  • Complete EDI Phase III testing
  • Execute operating and billing service agreements

Once SmartestEnergy passes these benchmarks, they’ll be primed to start offering electricity to New York customers. However, they must first post their rates to New York’s “Power to Choose” price comparison site, the letter stated.

Per the state’s requirements for ESCO’s, SmartestEnergy may also be required to purchase zero-emissions credits and renewable energy credits, the letter said.

Parent Company Generates More Than 1,000 MW per Year in the U.S.

SmartestEnergy first applied to become an ESCO in May, according to DPS records.

SmartestEnergy’s parent company, Marubeni, owns several energy generation facilities in the United States, according to documents filed with the DPS.

Marubeni has a capacity of 1,193 megawatts of power generated from four different U.S. facilities. Its biggest producer of energy is the Hardee Power Station in Bowling Green, FL.

Author:
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