Sign in Subscribe
Social services

Central Hudson Gas & Electric Corporation's Merchant Function Charges Statement

Strategic Insights

— 1 min read

The New York State Department of Public Service has issued a document outlining Central Hudson Gas & Electric Corporation's Merchant Function Charges (MFC) for the period July 1, 2019, through June 30, 2020. The statement, filed on August 17, 2020, will become effective on September 1, 2020. The MFC revenue reconciliation is based on a comparison of monthly actual billed MFC revenue to monthly targets, with any discrepancies deferred for refund to or recovery from full-service customers.

Key Takeaways:

  • The Merchant Function Charge (MFC) revenue reconciliation for the period July 1, 2019, through June 30, 2020, will be based on a comparison of monthly actual billed MFC revenue to monthly targets.
  • Any monthly over or under billed MFC revenue will be deferred for refund to or recovery from full-service customers.
  • The reconciliation factor, known as the Transition Adjustment, will be effective for the twelve months beginning September 1, 2020.
  • Central Hudson Gas & Electric Corporation will address any over or under recoveries of gas MFC reconciliations in a subsequent reconciliation period.
  • Questions related to this filing can be directed to Taylor Leonard at (845) 486-5554 or via email at tleonard@cenhud.com.
  • The company's Executive Vice President and Chief Financial Officer, Christopher M. Capone, CFA, signed the statement on August 17, 2020.

Statistics:

  • The MFC revenue reconciliation for the period July 1, 2019, through June 30, 2020, will be based on a comparison of monthly actual billed MFC revenue to monthly targets.
  • The Transition Adjustment will be effective for the twelve months beginning September 1, 2020.
  • The company has deferred rates for the full-service customers.

Sources:

  • Central Hudson Merchant Function Charges Statement (August 17, 2020)
  • Central Hudson Gas & Electric Corporation, Public Service Commission No. 12-Gas Statement of Merchant Function Charge (August 17, 2020)
  • Public Service Commission No. 12-Gas tariff (Case 17-G-0460)

Read more