BEFORE THE MARYLAND PUBLIC SERVICE COMMISSION
1.a. Identity of the Applicant:
(Must match the entity listed on the certificate issued by the State Department of Assessments and Taxation of Maryland)
Legal Name: EDF Energy Services, LLC
Current Address: 4700 W. Sam Houston Parkway N., Ste. 250 Houston, TX 77041
Street Address (if different than above):
Website URL: 1 www.edfenergyservices.com
1. b. Transfer of Existing License:
Attachment of attestation of transfer.
Letter used to notify customers of transfer.
2. The Applicant proposes to operate as a: (Check all that apply)
Supplier/Marketer
Broker (acts as an agent or intermediary in the sale and purchase of electricity and does not take title to the electricity)
Aggregator
As an Aggregator, will the Applicant take title to the electricity: Yes No
3. Electricity supply related services, if any, the Applicant intends to offer:
Competitive Billing Service: (If the Applicant is providing competitive billing service, provide proof of compliance with COMAR
20.51.02.02.B.7)
Metering
Other (Describe in attachment)
1 PUA 7-507(j). An electricity supplier shall post on the Internet information that is readily understandable about its
services and rates for small commercial and residential electric customers.
4. Service Territories and Type of customer the Applicant intends to serve:
Baltimore Gas and Electric Company
Residential
Commercial
Industrial
Choptank Electric Cooperative, Inc.
Residential
Commercial
Industrial
Delmarva Power and Light Company
Residential
Commercial
Industrial
The Potomac Edison Company
Residential
Commercial
Industrial
Potomac Electric Power Company
Residential
Commercial
Industrial
Southern Maryland Electric Cooperative
Residential
Commercial
Industrial
5. Source of Supply: (not required for Broker-only Applicant)
Applicant owns generation Applicant contracts for generation
Applicant obtains generation on the spot market
Other: Applicant must attach a statement detailing its source of generation
6. a. Customer Restrictions:
Restrictions upon the number of end use customers. (Describe in attachment) Applicant has no restrictions on the number of end use customers.
6. b. Restrictions upon the size of end use customers. (Describe in attachment) Applicant has no restrictions on the size of end use customers.
Other restrictions regarding customers. (Describe in attachment)
7. The Applicant proposes to begin providing services:
Upon approval of the Application and license.
Other approximate date of commencement: / / The Applicant is currently operating in the state of Maryland.
8. Affiliates Engaged in the Retail Sale of Electricity or Natural Gas:
The Applicant has no such Affiliate(s).
Applicant is an Affiliate of a regulated electricity or natural gas utility. Describe in attachment.
Affiliate(s) other than a regulated electricity or natural gas utility engaged in the retail sale of electricity, or electricity supply services, or natural gas are: See Exhibit 8
EXHIBIT 8
EDF Energy Services, LLC Affiliates Engaged in the Retail Sale of Electricity
or Natural Gas
EDF Energy Services, LLC’s parent company is EDF Trading North America, LLC at 4700 W. Sam Houston Parkway N., Ste. 250, Houston, TX 77041. EDF Trading North America, LLC is not a jurisdictional public utility. EDF Trading North America, LLC has other subsidiaries and affiliates. A comprehensive chart of the corporate structure is included in this exhibit.
The following is a list of affiliates and subsidiaries and their service territories and license numbers: Champion Energy Services, LLC
1500 Rankin Road #200 Houston, TX 77073
License Number/State of Issuance • IR-2196/MD PSC • A-2009-21241131500/PA PUC • ESL-0082/NJ BPU • 09-166E/PUCO OH • 06-0720/12-0120/IL ICC • CS-112/MA DPU • 10098/TX PUC • NA/NY PSC • EA 2013-14/DC PSC Service Areas:
• Maryland - BGE, Delmarva, Pepco, Potomac Edison • Texas - ERCOT
• Ohio - Duke, Dayton Power & Light, AEP - Columbus Southern Power, AEP Ohio Power, First Energy - The Illuminating Company, First Energy Ohio Edison, First Energy Toledo Edison
• Illinois – ComEd, Ameren
• Pennsylvania – PPL, Duquesne, PECO, West Penn Power, Penn Power, Met-Ed, Penelec • New Jersey – PSE&G, JCP&L, Atlantic City Electric
American Power & Gas, LLC 411 Cleveland Street #299 Clearwater, FL 33755
License Number/State of Issuance
• NA/NY PSC
• A-2013-2355561/PA PUC Service Areas:
• Pennsylvania – Pennsylvania Power & Light (PPL), Metropolitan Edison, Philadelphia Electric Company (PECO), Penelec, West Penn Power, Duquesne Light
• New York – Con Edison, Central Hudson, O&R, NYSEG, RGE, National Fuel Gas Distribution Corporation, Niagara Mohawk Power
EDF Industrial Power Services (CA), LLC 4700 W. Sam Houston Parkway N., Ste. 250 Houston, TX 77041
License Number/State of Issuance
• ESP# 1384/CA PUC Service Areas:
• Pacific Gas & Electric, Southern California Edison, San Diego Gas & Electric EDF Industrial Power Services (IL), LLC
4700 W. Sam Houston Parkway N., Ste. 250 Houston, TX 77041
License Number/State of Issuance
• 09-0467/IL ICC Service Areas:
EDF Industrial Power Services (NY), LLC 4700 W. Sam Houston Parkway N., Ste. 250 Houston, TX 77041
License Number/State of Issuance • NA/NYPSC
Service Areas:
• NIMO, RGE, NYSEG, and CONED EDF Industrial Power Services (OH), LLC 4700 W. Sam Houston Parkway N., Ste. 250 Houston, TX 77041
License Number/State of Issuance • 13-644E (1)/PUCO OH Service Areas:
• DPL, AEP, First Energy, Duke
100% Membership Interest 100% Membership Interest Minority Interest 100% Membership Interest Minority Interest
Ownership Structure
As of January 26, 2015Tanner Street
Generation, LLC
(Delaware LLC) Vantage Commodities Financial Services I, LLC (Delaware LLC) 100% Membership Interest 100% Membership Interest 100% Membership Interest 82.5% Membership Interest 17.5% Membership InterestEDF Inc.
(Delaware Corporation) 100% Membership Interest 100% Membership InterestElectricite de France, S.A
.
(French Corporation)Minority Interest
AP&G Holdings LLC (Florida LLC)
EDF Industrial Power Services (IL), LLC (d/b/a EDF Energy Services)
(Texas LLC)
100% Membership Interest
EDF Trading Resources, LLC
(Delaware LLC)
EDF Trading Holdings, LLC
(Delaware LLC)
Vantage Receivables SPE,
LLC
(Delaware LLC)
EDF Industrial Power Services (NY), LLC (d/b/a EDF Energy Services)
(Texas LLC)
EDF Industrial Power Services (CA), LLC (d/b/a EDF Energy Services)
(Delaware LLC)
EDF Energy Services, LLC
(Delaware LLC) Majority Interest
Champion Energy
Marketing LLC
(Delaware LLC)
EDF Trading North America, LLC
(Texas LLC)
EDF International S.A.S
(French Company)
EDF Holdings S.A.S
(French Joint Stock Company)EDF Trading Limited
(U.K. corporation) Pennsylvania Land Resources Holdings Company, LLC NPM Energy, LLC (Delaware LLC) Anahau Energy, LLC (Delaware LLC) Minority InterestName:
Business Address:
License Number/State of Issuance:
Location of Operations (Utility(s) Service Territory):
9. States in which the Applicant is now or has been engaged in the retail sale (including brokering) of electricity or natural gas:
State: PA Type of License: Electricity License No: A-2014-2438483 State: TX Type of License: Electricity License No: 10153
State: Type of License: License No: State: Type of License: License No: State: Type of License: License No: State: Type of License: License No: State: Type of License: License No:
If additional space is required, please attach additional sheets of paper to the Application as necessary.
10.
Regulatory Contact Person:
Name and Title:
Bill Hellinghausen, Director of Regulatory Affairs
Address:
4700 W. Sam Houston Parkway N.
Suite 250
Houston, TX 77041
Telephone:
281-653-0630
Fax:
281-781-0630
:
Bill.Hellinghausen@edftrading.com
11.
Customer Service Contact Person:
Name and Title:
Cherie Fuller, Senior Director of East Retail Power
Address:
4700 W. Sam Houston Parkway N.
Suite 250
Houston, TX 77041
Telephone:
281-653-1778
Fax:
281-653-1436
:
Cherie.Fuller@edfenergyservices.com
12.
Maryland Resident Agent:
(Agent currently on filed with the State Department of
Assessments and Taxation)
Name:
Capitol Corporate Services, Inc.
Business Address:
3206 Tower Oaks Blvd.
4
thFloor
Rockville, MD 20852
13.
Primary Corporate Officers/General Partners/Managing Partners
President/General Partner/Managing Partner:
Name:
Mary Anne Brelinsky
Business Address:
4700 W. Sam Houston Parkway N.
Suite 250
Houston, TX 77041
CEO:
Name:
John Rittenhouse, CEO
Business Address:
4700 W. Sam Houston Parkway N.
Suite 250
Houston, TX 77041
14. Applicant’s Business Form:
Proprietorship Corporation Partnership
Limited Partnership Limited Liability Company Limited Liability Partnership Other:
15. Certificate of Status:
Provided a certificate issued by the state of formation within the past 6 months certifying that the Applicant is in good standing and qualified to do business in the state of formation. See Exhibit 15.a
If formed under the laws of a state other than Maryland, provided the certificate issued by the State Department of Assessments and Taxation of Maryland (SDAT) within the past 6 months certifying that the Applicant is registered or qualified, and in good standing, to do business in Maryland. For more information about the certificate of good standing, go to the SDAT website at http://www.dat.state.md.us/ or the Business License Information System at http://www.blis.state.md.us/. See Exhibit 15.b
If applicable, provided a certificate of compliance with the provisions of Labor and Employment Article, Title 9, Annotated Code of Maryland relating to Maryland Workers’ Compensation. N/A
16. Ownership and Control: Provide on a separate sheet the names and addresses of all persons and entities that directly or indirectly own ten percent (10%) or more of the ownership interests in the Applicant, have the right to vote ten percent (10%) or more of the Applicant’s voting securities, or who otherwise have the power to control the Applicant. See Exhibit 16
EXHIBIT 15.a
EDF Energy Services, LLC Delaware Certificate of Good Standing
EXHIBIT 15.b
EDF Energy Services, LLC Maryland Certificate of Good Standing
301 West Preston Street, Baltimore, Maryland 21201
Telephone Balto. Metro (410) 767-1340 / Outside Balto. Metro (888) 246-5941 MRS (Maryland Relay Service) (800) 735-2258 TT/Voice
Fax (410) 333-7097
crblnk
STATE OF MARYLAND
Department of Assessments and Taxation
Paul B. Anderson
Charter Division
I, PAUL B. ANDERSON OF THE STATE DEPARTMENT OF ASSESSMENTS AND TAXATION OF THE STATE OF MARYLAND, DO HEREBY CERTIFY THAT THE DEPARTMENT, BY LAWS OF THE STATE, IS THE CUSTODIAN OF THE RECORDS OF THIS STATE RELATING TO LIMITED LIABILITY COMPANIES , OR THE RIGHTS OF LIMITED LIABILITY COMPANIES TO
TRANSACT BUSINESS IN THIS STATE, AND THAT I AM THE PROPER OFFICER TO EXECUTE THIS CERTIFICATE.
I FURTHER CERTIFY THAT EDF ENERGY SERVICES, LLC , REGISTERED JUNE 03, 2014, IS A LIMITED LIABILITY COMPANY EXISTING UNDER AND BY VIRTUE OF THE LAWS OF THE STATE OF DELAWARE, AND THAT THE LIMITED LIABILITY COMPANY IS AT THE TIME OF THIS CERTIFICATE IN GOOD STANDING TO TRANSACT BUSINESS.
IN WITNESS WHEREOF, I HAVE HEREUNTO SUBSCRIBED MY SIGNATURE AND AFFIXED THE SEAL OF THE STATE DEPARTMENT OF ASSESSMENTS AND TAXATION OF MARYLAND AT BALTIMORE ON THIS JANUARY 20, 2015.
R9338246 R9338246 R9338246 R9338246 R9338246 R9338246 R9338246 R9338246 R9338246 R9338246 R9338246 R9338246 R9338246 R9338246 R9338246
EXHIBIT 16
EDF Energy Services, LLC Ownership and Control
EDF Trading NA, LLC has 100% Membership Interest in EDF Energy Services, LLC
EDF Trading NA, LLC
4700 W. Sam Houston Parkway N., Ste. 250
Houston, TX 77041
17. Actions Against Licenses:
Provide the following information for the Applicant and any Affiliate.
Actions such as Suspensions/Revocations, Limitations, Reprimands, Fines, Consent Decrees or other similar actions have been taken or are pending against the Applicant or unregulated affiliate(s). If checked, provide an attachment describing the action; and include docket numbers, offense dates, and case numbers, if applicable.
No such action has been taken.
18. PJM Membership:(not required for Broker-only Applicant)
Provide evidence of having met all applicable requirements of PJM Interconnection, LLC. (Attach evidence of being a signatory to all applicable agreements; i.e., provide proof of PJM membership) See Exhibit 18
19. Financial Requirements
a. The Applicant must provide the most recent audited2 versions of at least one of the
following documents.
Balance sheet and income statement for the two most recent 12 month periods for which information is available. Balance sheets and income statements must be for the Applicant and not a parent corporation in the event one exists; or
If the Applicant has not been in existence for at least two-12 month periods, it must provide balance sheets and income statements for the life of the business; or
In the event that a parent or other corporation or company has undertaken to insure the financial integrity of the Applicant, Applicant must submit such parent’s, other corporation’s or company’s balance sheet and income statement – for the two most recent 12 month periods – together with documentation of such undertaking to insure the financial integrity of the Applicant. To the extent they exist, the Applicant must also submit its own balance sheet and income statement. See Exhibit 19.a
b. In addition to the financial documents above, the Applicant shall also provide the most recent versions of the following documents, if available.
Credit reports or ratings prepared by a nationally recognized statistical rating organization regarding the applicant's payment and credit history, to the extent available or allowed. See Exhibit 19.b
A current long-term bond rating, or other senior debt rating.
Proof that the applicant has met the credit requirements of PJM Interconnection, LLC, if the applicant has done so, and a detailed description of any credit security requirements PJM Interconnection, LLC has imposed upon the applicant.
2 20.51.02.08A. Each applicant for a license shall file audited financial documents as listed in Regulation .02B(4) of
EXHIBIT 18
EDF Energy Services, LLC’s Scheduling Coordinator’s (EDF Industrial
Power Services (IL), LLC) Proof of PJM Membership
EXHIBIT 19.a
EDF Trading NA, LLC’s (EDF Energy Services, LLC’s Parent Company)
Audited Financials For FY 2013 & Unaudited Financials For FY 2014
Page 21 of 54
EXHIBIT 19.b
Announcement:
Moody's changes outlook on EDF's Aa3 rating to negative from
stable
Global Credit Research - 05 Dec 2012
London, 05 December 2012 -- Moody's Investors Service has today changed to negative from stable the outlook on the Aa3 senior unsecured ratings of Electricité de France (EDF). Concurrently, Moody's has also changed to negative from stable the outlook on the A3 ratings of EDF's wholly owned subsidiaries, EDF Energy plc and EDF Trading Limited, which incorporate support from their ultimate parent.
RATINGS RATIONALE
The change of outlook to negative from stable follows the recent ruling by France's Conseil d'Etat which cancelled the decision relating to the electricity distribution tariffs for the third regulatory period (2009-2013, known as TURPE 3). Although EDF considers that the decision should not have an impact on its financial results, in Moody's view it adds to the challenges faced by the group from rising debt and pressured profitability. It therefore increases the risk that the group will be unable to maintain a leverage profile that is aligned with Moody's guidance for the Aa3 rating. The Conseil d'Etat's decision was based on its judgment that the methodology used by the CRE, the French electricity regulator, for calculating the capital return on the electricity distribution network of ERDF, EDF's subsidiary, is incorrect since it did not take account of the nature of the concessions assets and renewal provisions. The distribution network charges for TURPE 3 have therefore been incorrectly calculated. There remains uncertainty surrounding the amount and timing of any remedies that might be required, and their potential impact on EDF. The group itself considers that the decision should not have an impact on its financial results because of the nature of its integrated tariffs.
However, in Moody's view, there remains some risk of a negative financial impact on the group whether from any potential remedy, or from the revised methodology which the CRE is required to propose by June 2013.
The negative outlook takes account of the increase in EDF's net financial debt to EUR39.7 billion at end-June 2012 as a result of its acquisition of Edison; higher capital expenditure; and the rising Contribution au Service Public de l'Electricite (CSPE) balance. It also reflects a flat outlook for the group's profitability in 2013, under pressure from rising nuclear safety costs and weaker power generation earnings in certain markets outside France.
In changing the outlook on EDF's ratings, Moody's takes account of the group's efforts to ease the burden on its balance sheet, and to underpin profitability in order to achieve its 2.5x net debt/EBITDA leverage target. The outlook change factors in the group's ongoing discussions with the government regarding CSPE. Moreover, Moody's notes EDF's ongoing review of its operating costs and capital expenditure (capex) trajectory, which currently includes rising investment in renewables, new nuclear plant builds and its gas strategy.
Nevertheless, Moody's expects the negative pressure on EDF's free cash flow generation to continue, partly as a result of the group's substantial capital investment commitments. These include the Flamanville EPR, the cost estimate for which was recently increased by a further EUR2 billion to EUR8 billion, with planned commissioning maintained for 2016.
The negative outlook therefore reflects the risk, in Moody's view, that measures taken by the group to manage its leverage could be insufficient to ensure its credit metrics remain well positioned against the following guidelines: (1) RCF/net debt in the mid- to upper teens in percentage terms; and (2) FFO/net debt in the high teens/low 20s range in percentage terms.
In light of EDF's 84.48% ownership by the Government of France (Aa1 negative), the group falls under Moody's rating methodology for government-related issuers (GRIs) and its Aa3 rating incorporates a two-notch uplift from its standalone credit quality for potential government support.
WHAT COULD CHANGE THE RATING UP/DOWN
Given the current uncertainties and risks with regard to EDF's cash flows, as reflected by the negative outlook, Moody's does not consider an upgrade of the group's ratings to be likely in the near term.
Negative pressure could be exerted on EDF's a2 Baseline Credit Assessment (BCA) in the event of a sustained deterioration in the group's financial profile, as would be evidenced, for example, by a retained cash flow (RCF)/net debt ratio in the low teens in percentage terms on a sustainable basis. Such a deterioration could result from lower-than-expected profitability, capital investment unsupported by cash flow generation or large debt-funded acquisitions. In the context both of increased demands on national budgets and a two-notch rating uplift under Moody's GRI methodology, it is likely that negative pressure would be exerted on EDF's Aa3 rating were the BCA to deteriorate to a3 from a2.
PRINCIPAL METHODOLOGY
The methodologies used in this rating were Unregulated Utilities and Power Companies published in August 2009, and Government-Related Issuers: Methodology Update published in July 2010. Please see the Credit Policy page on www.moodys.com for a copy of these methodologies.
Electricité de France, headquartered in Paris, France, is a leading integrated provider of electricity generation, transmission, distribution and supply services. It reported turnover of EUR36.2 billion during the first six months of 2012 and EBITDA of EUR9.1 billion.
REGULATORY DISCLOSURES
For ratings issued on a program, series or category/class of debt, this announcement provides relevant regulatory disclosures in relation to each rating of a subsequently issued bond or note of the same series or category/class of debt or pursuant to a program for which the ratings are derived exclusively from existing ratings in accordance with Moody's rating practices. For ratings issued on a support provider, this announcement provides relevant regulatory disclosures in relation to the rating action on the support provider and in relation to each particular rating action for securities that derive their credit ratings from the support provider's credit rating. For provisional ratings, this announcement provides relevant regulatory disclosures in relation to the provisional rating assigned, and in relation to a definitive rating that may be assigned subsequent to the final issuance of the debt, in each case where the transaction structure and terms have not changed prior to the assignment of the definitive rating in a manner that would have affected the rating. For further information please see the ratings tab on the issuer/entity page for the respective issuer on www.moodys.com.
The ratings have been disclosed to the rated entities or their designated agent(s) and issued with no amendment resulting from that disclosure.
Information sources used to prepare each of the ratings are the following: parties involved in the ratings, parties not involved in the ratings, public information, and confidential and proprietary Moody's Investors Service information. Moody's considers the quality of information available on the rated entities, obligations or credits satisfactory for the purposes of issuing these ratings.
Moody's adopts all necessary measures so that the information it uses in assigning the ratings is of sufficient quality and from sources Moody's considers to be reliable including, when appropriate, independent third-party sources. However, Moody's is not an auditor and cannot in every instance independently verify or validate information received in the rating process.
Moody's Investors Service may have provided Ancillary or Other Permissible Service(s) to the rated entities or their related third parties within the two years preceding the credit rating action. Please see the special report "Ancillary or other permissible services provided to entities rated by MIS's EU credit rating agencies" on the ratings
disclosure page on our website www.moodys.com for further information.
Please see the ratings disclosure page on www.moodys.com for general disclosure on potential conflicts of interests.
Please see the ratings disclosure page on www.moodys.com for information on (A) MCO's major shareholders (above 5%) and for (B) further information regarding certain affiliations that may exist between directors of MCO and rated entities as well as (C) the names of entities that hold ratings from MIS that have also publicly reported to the SEC an ownership interest in MCO of more than 5%. A member of the board of directors of this rated entity may also be a member of the board of directors of a shareholder of Moody's Corporation; however, Moody's has not independently verified this matter.
Please see Moody's Rating Symbols and Definitions on the Rating Process page on www.moodys.com for further information on the meaning of each rating category and the definition of default and recovery.
information on the meaning of each rating category and the definition of default and recovery.
Please see ratings tab on the issuer/entity page on www.moodys.com for the last rating action and the rating history. The date on which some ratings were first released goes back to a time before Moody's ratings were fully digitized and accurate data may not be available. Consequently, Moody's provides a date that it believes is the most reliable and accurate based on the information that is available to it. Please see the ratings disclosure page on our website www.moodys.com for further information.
In addition to the information provided below please find on the ratings tab of the issuer page at www.moodys.com, for each of the ratings covered, Moody's disclosures on the lead rating analyst and the Moody's legal entity that has issued each of the ratings.
Niel Bisset
Senior Vice President Infrastructure Finance Moody's Investors Service Ltd. One Canada Square
Canary Wharf London E14 5FA United Kingdom JOURNALISTS: 44 20 7772 5456 SUBSCRIBERS: 44 20 7772 5454 Monica Merli MD - Infrastructure Finance Infrastructure Finance JOURNALISTS: 44 20 7772 5456 SUBSCRIBERS: 44 20 7772 5454 Releasing Office:
Moody's Investors Service Ltd. One Canada Square
Canary Wharf London E14 5FA United Kingdom
JOURNALISTS: 44 20 7772 5456 SUBSCRIBERS: 44 20 7772 5454
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20. Broker and/or Aggregator Bond: A $10,000 bond is required for an Applicant seeking to act solely as a broker or aggregator of electricity supply and electricity supply services. The bond is only required for those Applicants that will not take title to electricity. The bond must be in the format described in the broker/aggregator bond template in Attachment C. N/A
21. Deposit or Prepayment Bond: A bond is required to the extent the Applicant requires prepayments and/or deposits from customers. Prepayments and/or deposits from individual customers whose metered demand during any month of the previous twelve month period was in excess of 1 MW will not be included in the calculation of the bond requirement.
Applicant will not accept prepayments or deposits from customers.
Applicant intends to accept prepayments and/or deposits from customers. Applicant must comply with Prepayment and Deposit Bonding Addendum governing collection of prepayments and deposits. See Attachment D of this Application for more information about the prepayment or deposit bond, and a copy of the prepayment/deposit bond template.
22. Technical and Managerial Competency: The Applicant must submit, in an attachment, a statement of technical and managerial competency. This must include owner and key employee resumes. The attachment should also include a description of the Applicant and current operations, intended operations in Maryland, past work experience, business plans, and other items or information that demonstrate technical and managerial competency. See Exhibit 22
23 Training and Marketing Materials: The Applicant must provide copies of the training materials offered to the Applicant’s sales personnel/representatives; as well as the marketing materials that the Applicant will use to advertise to Maryland customers. If training material or marketing material is not available at the time of application,
provide such material before
commencing business in the state
. Training and marketing material is not available at this time.24. Operations in Maryland: Has the Applicant previously operated at any time—or is the Applicant currently operating—to supply, broker, aggregate, arrange, or market electricity to Maryland customers?
Yes No
(NOTE: If the Applicant has previously operated, or is currently operating, directly or indirectly to serve
Maryland customers then the Applicant shall complete the “Data Request for Suppliers That Have Previously Operated or are Currently Operating in Maryland.” The data request is included in the Application on Attachment E.)
25. Notice of Required Compliance: The Applicant is hereby notified that it is required to comply with the following:
a. The Applicant may be required to submit bonds, as applicable, as described in COMAR 20.51.02.08, in order to ensure financial integrity or the payment of taxes.
b. The Applicant must update this Application with the Commission within 30 days of a change to 1, 16, 17, 21, 26f, or 26g.
c. Except as set forth in paragraph (b) above, provide annual updates of all items that have changed in the Application. The annual update should be provided to the Commission within 120 days of the end of the supplier’s fiscal year.
d. Supplement this Application in the event the Commission modifies the licensing requirements, or requests further information.
EXHIBIT 22
EDF Energy Services, LLC Technical and Managerial Competency
Business Entity Consolidation
• The Business Consolidation Project affects front and back office business practices, state PUCs, ISOs and customers
• All new market entry will be as EDF Energy Services
• A National Master Agreement with individual state annexes is being developed • Gas to follow power consolidation
EDF Industrial Power Services (TX), LLC underwent a name change at the end of January 2014 to EDF Energy
Services, LLC. A project is underway to merge the remaining entities (except California) into the new entity.
Pending New Structure Existing Structure
C&I Gas business currently resides in EDF
Trading North America, LLC entity
EDF Energy Services
Download a free code reader by texting the word
barcode to 313131
Information for Maryland PSC Application
EDF Organization Overview
•
The world’s largest electricity producer with 38 million customers
•
618 TWh of electricity production worldwide
•
Headquartered in Paris with approximately 160,000 employees globally
•
€75 billion in sales and €3.3 billion in Net Income in 2013
•
Trades coal, electricity, environmental products, freight, natural gas and oil
•
Headquartered in London with approximately 1,000 employees worldwide
•
Shareholders equity of over €2.4 billion in 2013
•
Wholly-owned by EDF SA; Moody’s A3 Credit Rating
•
Specializes in natural gas, power, coal and environmental products
•
Provides marketing, trading, risk management, and optimization for clients
•
Headquartered in Houston with 340 employees; field offices in Chicago,
Merrillville, Michigan, Chevy Chase, Austin, Denver, and Calgary
EDF Trading
Limited
EDF Trading
North America, LLC
Electricité de France
S.A.
•
The North American power business is driven by the development
and optimization of a
vertically-integrated, customer-focused,
asset-backed
business
•
To deliver this vertically-integrated platform, EDFT develops
expertise and provides services at each link in the North American
energy value chain, from fuel procurement and logistics all the
way to delivery of energy at the final meter
•
The team executes by building a portfolio of physical and
contracted assets that complement and leverage the EDFT brand
and trading platform, and best position EDFT to capture
cross-commodity, geographic and time arbitrage for our clients via
effective control of logistics, deal flow and information
•
Consequently, EDFT works with our customers to optimize the
value chain based on the volatility of the fuel-to-consumption cycle
and the desire of clients to engage for services
•
The goal of the strategy is to provide a best-in-class client
experience and expert execution of trading and logistics
EDF Trading NA Strategic Overview
Deregulation continues to gain
momentum across North America for
both natural gas and power markets.
EDF Energy Services is currently active
in thirteen states and provinces across
the US and Canada.
Electricity:
•EDFES currently serves 1,600 MWs of large commercial and industrial load throughout the US in the following markets:
• Texas (ERCOT)
• Illinois (PJM and MISO)
• New York (NYISO)
• California (CAISO)
• Ohio (PJM)
• Pennsylvania (PJM)
Natural Gas:
•EDFES currently serves clients in twelve states and provinces throughout Canada and the US
•Loads total over 300,000 MMBtu/d of throughput (roughly 125 Bcf of annual throughput)
EDF Energy Services
Retail Power Markets Service Territory & Offerings
MARKET AREA
ISO/RTO
UTILITY
PRODUCT OFFERING
CALIFORNIA
CAISO
Pacific Gas & Electric (PGE) Southern California Edison (SCE)
San Diego Gas & Electric (SDGE)
Market Index Block and Index Full Requirements
ILLINOIS
PJM
MISO
Commonwealth Edison (COMED) Ameren Illinois
Market Index Block and Index Full Requirements
NEW YORK
NYISO
Niagara Mohawk (NIMO) Rochester Gas & Electric (RGE) NY State Electric & Gas (NYSEG)
Consolidated Edison (CONED)
Market Index Block and Index Full Requirements
OHIO
PJM
Dayton Power & Light (DPL) American Electric Power (AEP)
First Energy (FE) Duke Energy Ohio (DUKE)
Market Index Block and Index Full Requirements
TEXAS
ERCOT
Oncor Centerpoint Energy Texas New Mexico Power (TNMP) American Electric Power Texas (AEP)
Market Index Block and Index Full Requirements
EDF Energy Services Target Customers
•
EDF Energy Services targets large-scale, energy-intensive commercial and industrial energy
consumers in the power, gas, and environmental products markets.
•
Currently serving over 450 customers between power and gas product offerings.
•
Clients typically have on-staff Energy Management personnel with corporate directives for
energy procurement.
•
Customers are targeted who provide multi product, multi region, and multi commodity
opportunities.
•
Currently developing capability to handle large scale, large meter count industrial and
commercial end users.
•
EDF’s competitive advantages create a distinct hurdle for competitors. Specifically, the team
provides:
-
Detailed market analysis and data
-
Assists customer with hedging strategies
-
Provides a dedicated account management framework
-
Customized billing solutions
-
Regulatory support
-
Assists clients with setting and achieving strategic energy goals while competing effectively
in the changing energy market environment.
PJM Retail Customer Count
•
ILLINOIS
-
ComEd
•
2 Customers
•
4 Meters
•
140,160 MWhs/Year
•
OHIO
-
First Energy
•
1 Customer
•
1 Meter
•
438,000 MWhs/Year
-
AEP
•
1 Customer
•
24 Meters
•
227,760 MWhs/Year
-
Duke
•
1 Customer
•
2 Meters
•
315,360 MWhs/Year
EDF TRADING Page 37 of 54EDF Industrial Power Services (IL), LLC is
PJM Market Participant
•
Daily market morning reports
•
Weekly forward curve reports
•
Customized weekly report tailored to your needs
•
Plant specific spark/dark spreads
•
Margin trend analysis
•
Monthly Market Summary Report
•
Customers are given direct access to the
fundamentals team to discuss market trends,
regulatory changes, and provide insight for movements
in the commodity markets
EDF Fundamentals Team Provides
Market Analysis and Insight
EDF TRADING
On-Line Scheduling and Market Data Platform
Scheduling On-Line and Reporting, or “SOAR”, is
the proprietary
scheduling and data historian
employed to manage data for our customers. Data is
warehoused in a user-friendly format, and can be
queried by unit, time period, delivery location, or price.
For generation clients:
•
Each client is given a user “ID” and password that allows
them to access their physical dispatch parameters, awards
from the ISO, real-time metered usage, and other financial
settlement data
•
Generation dispatch models are warehoused in SOAR
where data is scrubbed, passes generator specific
validation and is parsed, saved, and transmitted directly to
the ISO
•
Awards are also electronically processed by SOAR - once
data is received from the ISO, SOAR acknowledges the
award and notifies users
•
Each ISO’s historical market data and clearing prices are
stored and can be easily exported into excel for analysis
For C&I supply customers:
Real Time Market Data at Your Fingertips
In a world where you can bank, shop, or video
chat right from your smart phone, we thought
you should have your energy prices available on
your mobile device as well.
SOAR Mobile is the smart phone application for
the SOAR platform for when you are on the go.
•
SOAR Mobile provides users with real-time
price data for California, New York, and all
organized markets in between
•
Day-ahead clearing prices, real-time prices,
and the spread between them (DA-RT) can be
viewed and charted intraday
•
Users can easily graph historical trends for
average peak, off-peak, daily minimum prices,
and maximum prices by hour
•
System load data is available in real time with
charting functionality for each of the organized
markets in the US
EDF TRADING
This presentation contains information that is confidential, privileged or otherwise protected from disclosure. If you are not an intended recipient, do not duplicate or redistribute it by any means.
Unless specifically indicated, this is not an offer to buy or sell or a solicitation to buy or sell any commodities, financial risk management products, or other physical or financial product or service, an official confirmation of any transaction, or an official statement of EDF Trading Limited, EDF Trading Markets Limited, EDF Trading North America, LLC, or any of the EDF Group family of companies.
Any views or opinions presented are solely those of the author and do not necessarily represent those of the foregoing entities. EDF Trading Markets Limited is authorized and regulated by the Financial Services Authority. VAT number: GB 735 5479 07. EDF Trading Markets Limited and EDF Trading North America, LLC are members of the EDF Group of companies. EDF Trading Markets Limited maintains its registered office at 80 Victoria Street, 3rd Floor, Cardinal Place, London, SW1E 5JL. A Company registered in England No. 4255974. EDF Trading North America, LLC is headquartered in the United States at 4700 W. Sam Houston Pkwy., Suite 250, Houston, TX 77041
EDF Energy Services, LLC Key Personnel
Mary Anne Brelinsky is Head of Retail and Power Origination for EDF Trading in North America. Mary Anne joined EDF Trading in 2006 as the Vice President responsible for the Texas power business. In 2010 Mary Anne was promoted to Head of North American Power Origination. In December of 2012, Mary Anne’s responsibilities were expanded to include EDF’s retail activities for gas and power in North America. A fourteen year veteran of the energy industry, Mary Anne held multiple management roles at Dynegy and Reliant prior to joining EDF. She is currently the President of the Gulf Coast Power Association, Chairman of GCPA’s emPOWERing Women initiative, and recently served six terms as Chairman of the ERCOT Demand Side Working Group. Mary Anne has an engineering degree from Rensselaer Polytechnic Institute and an MBA from the University of Houston CL.
Cherie Fuller is Senior Director, East Retail for EDF Energy Services. Cherie joined the EDFES team in 2011, after spending the prior 13 years in various wholesale and retail roles at Dynegy and Fulcrum Energy. Cherie is responsible for managing the East Portfolio including contracting, switching, customer service, regulatory, transaction management, reporting and invoicing. Cherie has a BA in Marketing Management from Salisbury University.
Ben Huffman is a Power Analyst for EDF Energy Services. Ben joined EDF Trading North America in 2011 as an Analyst for the East Power Wholesale Desk. In 2013, he transitioned to support analysis of EDFES in the Eastern Interconnect. Ben’s responsibilities include technical analysis, customer service, switching, invoicing, process improvements and special products. Ben has a BBA in Finance and a MS in Finance from Texas A&M University.
Amie Jackson is the Director of Accounting for EDF Trading North America. Amie joined EDF in 2006 and has 18 years of experience in the energy industry, of which 14 years are in the electric sector. At EDF, she leads the power, coal and renewable accounting functions, including settlements in all US ISO/RTOs and regulated control areas, wholesale invoicing, and settlement of all managed assets, retail billing, and structured products. Prior to joining EDF, Amie worked for Schlumberger, the City of Bryan (Bryan Texas Utilities) and GDF Suez. She has a BBA in Accounting from Texas A&M University.
Mary Anne Brelinsky
Education
Masters in Business Administration, 2000
University of Houston, Clear Lake Campus, Houston, Texas
Bachelor of Science in Industrial and Management Engineering, 1996 Rensselaer Polytechnic Institute, Troy New York
Experience
Head of Retail, EDF Energy Services. Responsible for EDF’s retail activities for gas and power in North America. Manages commodity sales, hedging, and profitability for all retail clients in the US and Canada. 2013 - Present Vice President, EDF Trading North America. Responsible for the origination, strategy, implementation, and profitability for all Energy Management clients in North America. Responsibilities included the QSE compliance program, Real Time Operations, scheduling, and settlement for the ERCOT assets. July 2006 – December 2010. Sr. Manager of Transaction and Product Solutions, Reliant Energy. Created and managed Reliant’s Customer Transaction Desk.Supervised employees responsible for the support of ERCOT C&I deal flow. Managed the processes for the execution of Capacity Energy, Gas Triggering, LaaRs, Load Response, and Supplemental Purchase products for Reliant’s Commercial and Industrial market segment. Managed and executed all gas, power, and heat rate
transactions for customers with ability to lock contract price components. February 2003 – July 2006 Power Trader, Dynegy Marketing and Trade, Houston, Texas. Managed the long-term spark spread positions (power
and natural gas) for Dynegy’s Texas and California assets. Optimized long term hedging portfolios for Texas retail contracts and over 1,200 MW of generation in ERCOT and SP15 markets. January 2002 – February 2003 Manager, Dynegy Marketing and Trade, Houston, Texas. Acted as Dynegy’s QSE manager during the deregulation of the power market. Responsible for all ERCOT interfaces and market rule implementation. Developed bidding strategy for the real time markets and stewarded Dynegy’s P&L resulting from the deregulated market. Also managed a 600 MW Cogeneration power plant in Channelview, Texas. Was responsible for determining the daily output for the facility, fuel nomination, and viability of long-term projects. July 2000-December 2001 Process Engineer, Operations Support Department, ExxonMobil Corporation, Baytown, Texas. Responsible for the day-to-day optimization and technical support for the recovery section of a world scale olefins plant. Responsible for unit project initiatives and coordination activities requiring the Plant Operations group, the laboratory, and inter-plant workforce. Other responsibilities include generating monitoring reports, catalyst management, and lost opportunity.
February 2000 – July 2000 Raw Material Analyst/Material Balance Engineer, Business Optimization Department, ExxonMobil Corporation, Baytown, Texas. Managed monthly product and supply material balances to within the required tolerances. Coordinated issue resolution between the controllers organization, third party customers and suppliers, and plant operations. Developed raw material stewardship package that has become a "best practice" at other Exxon steam cracking facilities.
John Hunter Rittenhouse
Education
Masters in Business Association in Finance, 1986 Fordham University, Bronx, New York
Bachelor of Science in Accounting, 1980 University of Delaware, Newark, Delaware
Qualifications
Certified Public Accountant, New York State, 1982
Experience
Chief Executive Officer, EDF Trading Limited, London, UK. John Rittenhouse is the Chief Executive of EDF Trading and EDF Trading North America. Supported by the executive team, he is responsible for the development and implementation of EDF Trading’s strategy in its role as the wholesale market interface for the EDF Group and its third party customers. Prior to his appointment as Chief Executive in July 2008, he has held the roles of Managing Director and Chief Financial Officer. He joined EDF Trading at its inception in 1998 and was appointed to the Board of Directors in April 2006.
April 1999-Present Vice President of Finance, Louis Dreyfus Corporation, Wilton, CT. Nature of business was Commodities Trading.
January 1997-April 1999 Finance Director, Louis Dreyfus Energy Limited, London, UK. The firm conducted business as an Oil Refinery and Marketing and Trading.
April 1991-December 1996 Financial Controller and Treasurer, Intermarket Capital Associates, LP, New York, NY. Nature of business was Bond Trading.
September 1987-August 1990 Financial Controller, Ceres Capital Corp., New York,, NY. Nature of business was leasing computer equipment.
July 1985-January 1987 Financial Controller, Pechiney Trading International, New York, NY. Nature of firm’s business was metals trading.
October 1983-July 1985 Associate, Arthur Young & Co., New York, NY. Nature of business was as an audit firm.
August 1980-October 1983
Eric Dennison
Education
Juris Doctorate
University of Tennessee College of Law, Knoxville, Tennessee Bachelor of Music
University of Kentucky, Lexington, Kentucky
Qualifications
Member of the Texas Bar Experience in:
• Commodities Law
• Energy
• Project Finance and Development
• State and Federal Energy Regulation
• Deregulated Utility Markets
• LNG Project Development and Off-Take
• Natural Gas Exploration and Production.
Experience
Eric Dennison began his career with Vinson & Elkins in Houston, Texas as a project development and real estate attorney. Since then, Eric’s practice has focused on all segments of the energy industry, including federal and state commodity and energy matters, natural gas, alternative energy, LNG, coal and emissions. Eric has experience in the regulated and unregulated segments of the energy markets, and routinely handles matters that include advising on: hedging and credit risks, contract disputes, bankruptcy planning and contingencies, regulatory issues relating to energy and commodities trading, market regulation and structured credit and finance transactions. Eric also has experience in power and LNG project development and finance, and mergers and acquisitions involving energy related assets.
Eric has worked in the private bar and as corporate counsel to various energy companies. Before joining EDF Trading North America, Eric was Assistant General Counsel of Dynegy Marketing and Trade, and General Counsel of Eagle Energy Partners I, L.P. Eric has served as General Counsel of EDF Trading North America, LLC since November 2008. In private practice, Eric has been a partner with leading energy practitioners including most recently with the law firm of Sutherland Asbill. As part of his corporate practice, Eric has served on various committees with ISDA, the North American Energy Standards Board, and the Western Systems Power Pool. Eric has practiced before the Federal Energy Regulatory Commission, the Texas and California Public Utility Commissions, and the Commodity Futures Trading Commission.
e. Agree that it will not present itself as a licensed retail supplier of electricity in Maryland, accept deposits, prepayments, or contract with any end-use customers without a license from the Commission.
f. Pay all fees imposed by the Commission and any State and local taxes.
g. Ensure that a copy of each service agreement entered into with Maryland electricity companies is provided to the Commission.
h. Acknowledge that the license to sell electricity and electricity supply services is not transferable without prior Commission approval.
26. Affidavits Required: The Applicant must supply Affidavits of Tax Compliance and General Compliance to the Commission with the completed Application. The affidavits are included with this Application packet and must be executed by the Applicant (or representative with authority to bind the Applicant) in compliance with Maryland law. The Affidavits contain the following statements on behalf of the Applicant:
a. Agreement to comply with all terms and conditions of applicable electricity company tariffs and agreements with electricity companies.
b. Agreement to comply with all applicable federal and State consumer protection and environmental laws and regulations, and Maryland Public Service Commission regulations and requirements.
c. Agreement to comply with all applicable State and local tax and surcharge requirements.
d. Statement that the Applicant has obtained all the licenses and permits required to operate the proposed business in the State of Maryland.
e. Agreement of Non-Disclosure and No Reselling of customer data provided to the Applicant by any Maryland electricity distribution company.
f. Statement that the Applicant, including the Company and any of its affiliates, the general partners, corporate officers or directors, or limited liability company managers or officers of the Company or such affiliates:
1. Has had no civil, criminal or regulatory sanctions or penalties imposed against it within the previous ten years pursuant to any State or Federal consumer protection law or regulation; and has not ever been convicted of a felony; or, alternatively
2. Has disclosed by attachment all such sanctions, penalties or convictions.
g. Statement that the Applicant:
1. Is not under involuntary bankruptcy/insolvency proceedings including but not limited to, the appointment of a receiver, liquidator, or trustee of the supplier, or a decree by such court adjudging the supplier bankrupt or insolvent or sequestering any substantial part of its property or a petition to declare bankruptcy as to reorganize the supplier; and
2. Has not filed a voluntary petition in bankruptcy under any provision of any Federal or State bankruptcy/insolvency law, or its consent to the filing of any bankruptcy or reorganization petition against it under any similar law; or without limiting the generality of the foregoing, a supplier admits in writing its inability to pay its debts generally as they become due or consents to the appointment of a receiver, trustee or liquidator of it or of all or any part of its property.
h. Statement that the information, statements and documents submitted in connection with the Application are true and correct.
Attachment A
FINANCIAL INTEGRITY REQUIREMENTS
An Applicant for a license can demonstrate financial integrity by providing evidence that is
has meet either A, B or C.
A. COMAR 20.51.02.08.B
: Show that the applicant has received an unsecured credit
allowance greater than $2,000,000 from PJM Interconnection, LLC, and providing
documentation of the credit allowance.
B. COMAR 20.51.02.08.E:
Provide financial statements
3showing:
1. Positive working capital; or debt service coverage equal to or greater than two times the
annual interest costs;
2. Positive stockholder equity; or positive working capital and a dedicated source of
additional financing including a line of credit, a pending stock issuance or debt issuance,
or other committed source of financing; and
3. Positive net income; or stockholder equity equal to or greater than two times the amount
of net loss.
C. COMAR 20.51.02.08.F:
Provide the Commission with security in the form of the bond
shown in Attachment B, or other security as required under COMAR 20.51.02.08.H.
3 For proof of financial integrity, an Applicant may rely upon a guarantee provided by a parent corporation or other
person. If a parent corporation or other person undertakes to guarantee the financial integrity of the Applicant, the
