Key Legal Requirements:

● Mandatory Registration: No entity or person may act as an energy broker or energy consultant without first registering with the PSC.
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● Financial Accountability: Registrants must demonstrate financial accountability, typically via a bond or letter of credit. The minimum amounts are:
● ★ Energy Brokers: $100,000 bond or letter of credit.
● ★ Energy Consultants: $50,000 bond or letter of credit.
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● Annual Fees: A $500 annual registration fee is required for each registered entity.

Disclosure of Compensation: Brokers and consultants must disclose their form and amount of compensation to customers via a conspicuous statement on the contract or agreement. If an Energy Service Company (ESCO) collects compensation on their behalf, the amount and method must be on the customer disclosure label.

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● Prohibition of Rebates: Offering or receiving rebates or other valuable considerations as an inducement for energy supply business is strictly prohibited. Violators may face substantial penalties.

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● Customer Protections: The laws include rules for customer interactions, such as providing specific identification information (name, ID number, company details) to prospective residential customers and retaining third-party verification records for sales agreements.