1. (a) Beginning July 1, 2025, a person may not engage in the business of an energy vendor in the State unless the person holds a license issued by the Commission.

2. (b)

   1. (1) An application for an energy vendor license shall:

      1. (i) be made to the Commission in writing on a form adopted by the Commission;
      2. (ii) be verified by oath or affirmation; and
      3. (iii) contain information that the Commission requires, including payment of the applicable licensing fee.

   2. (2)

      1. (i) The term of an energy vendor license is 3 years.
      2. (ii) The terms of licenses may be staggered as determined by the Commission.
      3. (iii) Unless a license is renewed for a 3-year term in accordance with this subsection, the license expires on the date that the Commission sets.

      4. (iv) A licensee may renew a license for a 3-year term before the license expires if the licensee:

         1. 1. otherwise is entitled to be licensed;
         2. 2. submits to the Commission a renewal application on the form that the Commission provides; and
         3. 3. pays to the Commission the applicable renewal fee set by the Commission.

3. (c) The Commission shall, by regulation or order:

   1. (1) require proof of financial integrity;
   2. (2) require a licensee to post a bond or other similar instrument if, in the Commission's judgment, the bond or similar instrument is necessary to ensure an energy vendor's financial integrity; and
   3. (3) adopt any other requirements the Commission finds to be in the public interest.
4. (d) A license issued under this section may not be transferred without prior Commission approval.

Added by Acts 2024, c. 537, § 1, eff. July 1, 2024.