Illinois Administrative Code › Title 83 - PUBLIC UTILITIES › Part 451 - CERTIFICATION OF ALTERNATIVE RETAIL ELECTRIC SUPPLIERS › Subpart A - GENERAL PROVISIONS › Section 451.10 - Definitions and Incorporations

Current through Register Vol. 48, No. 28, July 12, 2024
"Accountant's report" has the same meaning as in
				  17 CFR
				  210.1-02 and
				  210.2-02
				  as of April 1, 2001. No incorporation of the Code of Federal Regulations in this
				  Section
				  451.10
				  includes any later amendment or edition.
"Act" means the Public Utilities Act [220 ILCS 5 ].
"Alternative retail electric supplier" or "ARES" has the same
				  meaning as in Section 16-102 of the Act.
"Applicant" means an entity that files an application with the
				  Illinois Commerce Commission to provide electric service as an alternative retail
				  electric supplier under Section 16-115 of the Act.
"Best's financial size category" refers to a numerical value that
				  A.M. Best or its successor assigns to an insurance company based on the amount of
				  that insurance company's policyholders' surplus and reserve funds.
"Best's rating" refers to a rating from A.M. Best or its successor
				  that provides an overall opinion of an insurance company's ability to meet its
				  obligations to policyholders.
"Business enterprise" means a commercial enterprise or
				  establishment.
"Certified", when used in regard to financial statements, has the
				  same meaning as in
				  17 CFR
				  210.1-02 as of April 1, 2001. No incorporation of
				  the Code of Federal Regulations in this Section
				  451.10
				  includes any later amendment or edition.
"Commercial general liability insurance" means insurance that
				  covers suits against the insured for personal injury and property damages.
"Commission" means the Illinois Commerce Commission.
"Electric cooperative" means the same as that term is defined in
				  Section 3.4 of the Electric Supplier Act [220 ILCS 30/3.4
				  ].
"Financial statements" has the same meaning as in
				  17 CFR
				  210.3-01 to
				  210.3-05
				  as of April 1, 2001. No incorporation of the Code of Federal Regulations in this
				  Section
				  451.10
				  includes any later amendment or edition.
"Guarantee" means an undertaking by a guarantor to pay or fulfill
				  the obligation upon failure of the principal obligor to fulfill its contractual
				  obligations. A guarantee shall contain the following provisions:
The guarantee is one of payment and not of collection;
The guarantor's obligations under the guarantee are weighed
				  equally with other guarantees;
The obligations from transactions entered into under the original
				  guarantee must be the subject of an ongoing guarantee;
The guarantee reinstates if any guaranteed payment made by the
				  primary obligor is recaptured as a result of bankruptcy or insolvency; and
The guarantee is binding on successors of the guarantor.
"Letter of credit" means an instrument issued by a bank
				  guaranteeing the payment of a customer's (i.e., the applicant or ARES) drafts in
				  favor of a third party up to a stated amount for a specified period.
"License bond" means an obligation of a surety to pay the monies
				  that the licensee owes the State of Illinois for violations of the duties and
				  obligations imposed on it as an ARES.
"Management position" means an employed position whereby an
				  individual is responsible for directing, supervising, or administering the
				  activities of a group of two or more people with fiscal responsibility and authority
				  over that group.
"Material" has the same meaning as in
				  17 CFR
				  210.1-02 as of April 1, 2001. No incorporation of
				  the Code of Federal Regulations in this Section
				  451.10
				  includes any later amendment or edition.
"Municipal system" means any public utility owned and operated by
				  any political subdivision or municipal corporation of the State of Illinois, or
				  owned by such an entity and operated by any lessee or agent thereof.
"Parent" has the same meaning as in 17 CFR 210.1 -2 as of April 1,
				  2001. No incorporation of the Code of Federal Regulations in this Section
				  451.10
				  includes any later amendment or edition.
"Payment bond" means an obligation of a surety to pay the monies
				  that the principal (i.e., the applicant or ARES) owes another party in the event
				  that the applicant fails for whatever reason to perform its contract or
				  contracts.
"Permit bond" has the same meaning as "license bond".
"Qualifying surety" means a surety or insurer that is authorized
				  by the U.S. Department of Treasury pursuant to
				  31 USC
				  9305. A qualifying surety or insurer may not
				  underwrite more than the amount specified by the U.S. Department of Treasury on a
				  single bond.
"Ratings agency" means Standard & Poor's or its successor,
				  Moody's Investors Service or its successor, or Fitch Ratings or its
				  successor.
"Retail customer", as used in this Part, means the same as the
				  term is defined in Section 16-102 of the Act.
"RTO" means a Regional Transmission Organization.
"Segment" refers to a component of an entity whose activities
				  represent a separate major line of business or class of customer.
"Small commercial retail customer" means the same as the term is
				  defined in Section 16-102 of the Act.
"Surplus Line Association of Illinois" is an organization of
				  Illinois surplus line producers as defined in Section 445.1 of the Illinois
				  Insurance Code [215 ILCS
				  5/445.1 ].
"Technical staff" means a staff of trained technical experts in
				  electric power and energy supply, including persons who have completed an accredited
				  or otherwise recognized apprenticeship program or a formal education program and
				  persons who possess no less than four years of experience working in a similar
				  position with a utility, ARES or related business. This shall also include those
				  persons registered as professional engineers as required by the Professional
				  Engineering Practice Act of 1989 [225 ILCS 325 ].
"Unconditional guarantee" has the same meaning as "guarantee" with
				  these additional provisions:
The guarantor has subjected itself to jurisdiction and service of
				  process in accordance with the laws of the State of Illinois, and the guarantee will
				  be construed in accordance with the laws of the State of Illinois without reference
				  to conflict of laws principles; and
The guaranteed obligations are unconditional, irrespective of
				  value, genuineness, validity, waiver, release, alteration, amendment, and
				  enforceability of the guaranteed obligations.