Commenting on the temporary reprieve ACN Energy received last week that will allow it continue marketing natural gas in Georgia, the Farmington Hills, MI-based company said it was “pleased” that it was able to reach an agreement with Atlanta Gas Light Co. (AGLC) (see Daily GPI, Nov. 18).

ACN Energy, which markets gas and power to residential and small commercial markets, said its settlement will allow it and AGLC to continue working together in bringing Georgia consumers quality natural gas service at affordable prices at least for an interim period. “With this settlement, we look forward to continuing serving our Georgia- based customers,” said John Huffman, CEO of ACN Energy.

In its original petition, AGLC had asked the Georgia Public Service Commission (GPSC) to terminate ACN’s certificate as a gas marketer in the state and transfer its estimated 13,000 customers to Gainesville, FL-based Infinite Energy, the state’s emergency supplier of last resort. The move would dwindle the already depleted deregulation marketer list to eight.

AGLC said ACN’s form of security through Aquila Merchant Services Inc. was no longer accepted because of Aquila’s deteriorating financial status. “The Aquila Guaranty no longer meets AGLC’s credit requirements,” the petition said.

On Thursday (Nov. 14), AGLC stayed their petition, giving the marketer until December 16 to get its “house back in order.”

ACN Energy is a subsidiary of ACN Inc., one of the fastest growing, privately held companies in the U.S. It operates in 11 countries throughout North America and Europe and is involved in rapid expansion of the telecommunications and utility industries.

©Copyright 2002 Intelligence Press Inc. All rights reserved. The preceding news report may not be republished or redistributed, in whole or in part, in any form, without prior written consent of Intelligence Press, Inc.