John Simonelli

Dear Members of NH House Science, Technology & Energy Committee, As a utility subject matter expert, I strongly support HB 760. With the PUC directing public utilities to take on 30-100% commodity spot market price exposure over the next year, there is significant risk in exposing consumers to extreme price volatility. This was the first misguided step by regulators. The second faux pas is proposing that any energy cost overruns be recovered through charges paid by all of that respective utilities residential customers. Shifting utility supply costs into stranded cost charges would force Competitive Supply & Community Power customers to subsidize utility supply cost overruns. This cost shifting proposal is anti-competitive and would undermine NH’s competitive electric market by making it impossible for 3rd parties and Community Power to compete on a level playing field with artificially low utility supply rates. HB 760 would ensure any over- or under-collections associated with utility market exposure will be borne by utility supply customers, not shifted to Community Power and the market. Market competition and customer choice drive cost savings & value that benefits NH. The bill benefits NH by protecting competitive market options and choices for customers, which drive cost savings. Thank you for your time and attention to this matter. Sincerely, John Simonelli Epping