Illinois Administrative Code › Title 83 - PUBLIC UTILITIES › Part 551 - CERTIFICATION OF ALTERNATIVE GAS SUPPLIERS › Section 551.140 - Financial Reporting Requirements

Current through Register Vol. 48, No. 28, July 12, 2024
The AGS shall provide a copy of only those documents that the AGS
				requires to demonstrate that it continues to possess sufficient financial resources
				to serve the residential or small commercial customers for which it has received a
				certificate of service authority. The applicable documents shall be submitted at the
				times specified below:
a) An AGS that seeks
			 to demonstrate that it maintains sufficient financial resources to provide the
			 services for which it has received a certificate of service authority using the
			 criteria set forth in Section
			 551.80(a)
			 shall submit an updated copy of a Dun & Bradstreet Business Information Report
			 that demonstrates, at a minimum, that the AGS has a Composite Credit Appraisal of
			 "3" or lower and a PAYDEX score of "70" or higher. If the AGS does not have a Dun
			 & Bradstreet Composite Credit Appraisal, the AGS shall file an updated copy of
			 an Experian Small Business Intelliscore report that demonstrates, at a minimum, that
			 the AGS has an Intelliscore of "63" or higher. The applicable updated report shall
			 be filed between January 1 and January 31 of each year. The report shall be no more
			 than 30 days old at the date of the annual filing.
b) An AGS that seeks to demonstrate that it
			 maintains sufficient financial resources to provide the services for which it has
			 received a certificate of service authority using the criteria set forth in Section
			 551.80(b), (c), (d)(4),
			 (d)(6), (e)(1), (e)(3), or (f) shall submit a copy
			 of the latest ratings report presenting the short-term or long-term credit or
			 obligation ratings of the AGS, creditors, affiliates, or guarantors, as applicable,
			 from the ratings agencies between January 1 and January 31 of each year and within
			 15 days following any downgrade of such ratings previously filed with the Commission
			 to a rating below A-1 or A-, if issued from Standard & Poor's or its successor,
			 P-1 or A3, if issued from Moody's Investors Service or its successor, or F-1 or A-,
			 if issued from Fitch Ratings or its successor. Within 30 days after a downgrade of
			 the short-term or long-term credit or obligation ratings of the AGS or its
			 creditors, affiliates, or guarantors, as applicable, to a level below the minimum
			 required under this Part, the AGS shall submit a report that identifies the
			 subsection under which the AGS 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 includes the information and documents that
			 subsection requires.
c) An AGS that
			 seeks to demonstrate that it maintains sufficient financial resources to provide the
			 services for which it has received a certificate of service authority using the
			 criteria set forth in Section
			 551.80(c), (d),
			 (e), or (f) shall submit a copy of any modified,
			 replacement or additional borrowing agreements, unconditional guarantees, lines of
			 credit, revolving credit agreements, payment bonds, and letters of credit, as
			 applicable, at least 15 days in advance of any modification, cancellation or
			 expiration of the financial agreements.
d) Between January 1 and January 31 of each year,
			 an AGS that seeks to use the criteria specified in Section
			 551.80(d)
			 to demonstrate that it maintains sufficient financial resources to provide the
			 services for which it has received a certificate of service authority shall provide
			 the maximum daily amount of natural gas scheduled in dekatherms during the previous
			 calendar year and the date on which that amount was scheduled. If the AGS has been
			 serving Illinois residential or small commercial customers for less than 12 months,
			 the AGS shall also provide an estimate of the maximum daily amount of natural gas in
			 dekatherms it will schedule during the current calendar year.
e) An AGS that seeks to demonstrate that it
			 maintains sufficient financial resources to provide the services for which it has
			 received a certificate of service authority using the criteria set forth in Section
			 551.80(c), (d),
			 (f), or (g) shall submit a copy of its certified
			 financial statements, or those of its parent, and accountant's report, as
			 applicable, within 120 days after the close of its fiscal year.
f) An AGS that has contracted to acquire customer
			 accounts from another AGS shall, at least 15 days in advance of any acquistion,
			 demonstrate that it maintains suffient financial resources to provide the service
			 for which it has received a certificate of service authority using the criteria set
			 forth in Section
			 551.80(c), (d) or
			 (f) and providing an estimate of the amount of
			 revenue expected from the customer accounts under contract to be acquired, including
			 supporting documents.