Illinois Administrative Code › Title 83 - PUBLIC UTILITIES › Part 460 - CERTIFICATION REQUIREMENTS AND STANDARDS OF SERVICE FOR METER SERVICE PROVIDERS › Subpart C - PROCEDURES FOR REPORTING CONTINUING COMPLIANCE WITH CERTIFICATION REQUIREMENTS › Section 460.230 - Financial Reporting Requirements

Current through Register Vol. 48, No. 28, July 12, 2024
a) The MSP
				shall provide a copy of the documents that this Subpart requires to demonstrate that
				it has sufficient financial resources to provide metering services to retail
				electric customers. The documents shall be submitted annually to the Chief Clerk of
				the Commission and the Manager of the Commission's Financial Analysis Division or
				its successor between December 1 and December 31.
b) The MSP shall file an updated copy of a Dun
				& Bradstreet Business Information Report that demonstrates, at a minimum, that
				the MSP has a Composite Credit Appraisal of "3" or lower and a PAYDEX score of "70"
				or higher. The report shall be no more than 30 days old at the date of the annual
				filing.
c) If the MSP does not have a
				Dun & Bradstreet Composite Credit Appraisal, the MSP shall file an updated copy
				of an Experian Small Business Intelliscore report that demonstrates, at a minimum,
				that the MSP has an Intelliscore of "63" or higher. The report shall be no more than
				30 days old at the date of the annual filing.
d) The MSP shall file evidence of insurance in one
				of the following ways:
1) File a certificate of
				insurance as evidence that the commercial general liability policy was renewed for
				at least one year and the liability coverage will continue. If the insurance
				company's rating or financial size is downgraded below the minimum required rating
				or financial size under Section
				460.100(b)(1)(B),
				within 30 days after such downgrade, the MSP shall obtain new insurance coverage
				provided by an insurance company meeting or exceeding the required minimum rating
				and financial size. A copy of the certificate of insurance for the new policy must
				be filed within that period with the Chief Clerk of the Commission and the Manager
				of the Commission's Financial Analysis Division or its successor; or
2) MSPs that qualify to self-insure for the
				liability obligations shall file a copy of the Self-Insurance Certificate of
				Approval under Section 4 of the Workers' Compensation Act [820 ILCS 305 ]. If the
				MSP fails to maintain authorization from the Illinois Industrial Commission to
				provide self-insurance, the MSP must obtain insurance coverage as provided in
				Section
				460.100(b)(1)
				 within 120 days from the date that its authority
				to self-insure is revoked by Illinois Industrial Commission Order. The MSP must
				notify the Commission of the Order revoking its authority to self-insure within 30
				days. Within 120 days, the MSP must file a certificate of insurance with the Chief
				Clerk of the Commission and the Manager of the Commission's Financial Analysis
				Division or its successor as evidence that a Commercial General Liability policy has
				been issued and is valid for a period of not less than one year. MSPs that qualify
				to self-insure but are required to provide an unconditional guarantee, surety bond,
				letter of credit, or establish an escrow account shall file:
A) A copy of the latest ratings report presenting
				the commercial paper or long-term credit or obligation ratings of the guarantors or
				financial institutions that issued the letter of credit, as applicable, between
				December 1 and December 31 of each year and within 15 days following any downgrade
				of such ratings previously filed with the Commission. Within 30 days after a
				downgrade of the commercial paper or long-term credit ratings of the guarantors or
				financial institutions that issued the letter of credit to a level below the minimum
				rating required under this Subpart, the MSP shall submit a report that:
i) identifies the subsection of this Part under
				which the MSP is seeking to demonstrate that its financial resources remain
				sufficient for providing the services for which it has received a certificate of
				service authority; and
ii) includes the
				information and documents that subsection requires;
B) If the surety company that issued the surety or
				license or permit bond is disqualified as a qualifying surety, the MSP shall have 30
				days from the date that the company is disqualified to obtain a new surety or
				license or permit bond from a qualifying surety;
C) Copies of any modified, replacement, or
				additional unconditional guarantees, letters of credit, surety bonds, or escrow
				accounts, as applicable, at least 15 days in advance of any modification,
				cancellation, or expiration of the financial agreements; and
D) A statement presenting the type and balance of
				securities deposited in the escrow account, as applicable.