                                 CODE OF VIRGINIA

LICENSING OF AGGREGATORS (§ 56-588)

A. As a condition of doing business in the Commonwealth, each person seeking to
act as an aggregator within this Commonwealth on and after January 1, 2002,
shall obtain a license from the Commission to do so. The license shall authorize
that person to act as an aggregator until the license expires or is otherwise
terminated, suspended or revoked. Licensing pursuant to this section, however,
shall not relieve any person seeking to act as a supplier of electric energy
from their obligation to obtain a license as a supplier pursuant to &#xA7;
56-587.

B. As a condition of obtaining, retaining and renewing any license issued
pursuant to this section, a person shall satisfy such reasonable and
nondiscriminatory requirements as may be specified by the Commission, which may
include requirements that such person (i) provide background information; (ii)
demonstrate, in a manner satisfactory to the Commission, financial
responsibility; (iii) post a bond as deemed adequate by the Commission to ensure
that financial responsibility; (iv) pay an annual license fee to be determined
by the Commission; and (v) pay all taxes and fees lawfully imposed by the
Commonwealth or by any municipality or other political subdivision of the
Commonwealth. In addition, as a condition of obtaining, retaining and renewing
any license pursuant to this section, a person shall satisfy such reasonable and
nondiscriminatory requirements as may be specified by the Commission, including,
but not limited to, requirements that such person demonstrate technical
capabilities as the Commission may deem appropriate. Any license issued by the
Commission pursuant to this section may be conditioned upon the licensee, if
acting as a supplier, furnishing to the Commission prior to the provision of
electricity to consumers proof of adequate access to generation and generation
reserves.

C. In establishing aggregator licensing schemes and requirements applicable to
the same, the Commission may differentiate between (i) those aggregators
representing retail customers only, (ii) those aggregators representing
suppliers only, and (iii) those aggregators representing both retail customers
and suppliers.

D. 1. The Commission shall establish a reasonable period within which any retail
customer may cancel, without penalty or cost, any contract entered into with an
aggregator licensed pursuant to this section.

   2. The Commission may adopt other rules and regulations governing the
   requirements for obtaining, retaining, and renewing a license to aggregate
   electric energy to retail customers, and may, as appropriate, refuse to issue
   a license to, or suspend, revoke, or refuse to renew the license of, any
   person that does not meet those requirements.

HISTORY: 1999, c. 411; 2000, c. 991.