05-20-2009 – During the summer of 2008, Stream Energy made a business decision to relax some of our credit and deposit requirements for the short term for new natural gas customers in Georgia.
We made this decision because we were a new market entrant, and we were trying in good faith to ease consumer confidence and assist customers who might otherwise have been required to post a deposit.
During this timeframe, we learned of a small group of customers who, having previously indicated their willingness to enroll with Stream, rescinded their decision and opted to stay with their original carrier. By that time, having already waived our deposit requirements, Stream Energy had processed these customers? switch requests, in keeping with their original instructions to Stream.
Stream Energy immediately took action to notify the Public Service Commission, and we have worked closely with the PSC to resolve any issues arising from this situation. As part of this agreement, Stream Energy and the PSC agreed to a monetary resolution, including sizable charitable donations to the Salvation Army and the Heating Energy Assistance Team.
We regret any inconvenience that may have been caused, and remain fully dedicated to adhering to all PSC competitive policies and to the highest ethical standards.