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PURCHASE OF ACCOUNTS RECEIVABLE (PAR) WHAT IS PAR? PAR is when the utility pays the supplier for their charges on the utility consolidated invoice at a discounted rate Currently, there is no discount rate – supplier charges are paid at 100%

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WHAT IS PAR?

  • PAR is when the utility pays the supplier for their charges on the utility consolidated invoice at a discounted rate

  • Currently, there is no discount rate – supplier charges are paid at 100%

  • In order to participate in the PAR Program a supplier must:

    • Sign an Account Receivables Purchase Agreement with Duke Energy Ohio

    • Use Duke Energy Ohio’s Consolidated Billing Option

    • Agree to all PAR provisions in Rate FRAS and Rate ARM


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HOW PAR WORKS

  • Duke Energy will purchase all receivables of a supplier (active in PAR Program) for accounts it bills on behalf of the supplier under the Utility Consolidated Rate-Ready Billing Option

  • A supplier may not choose to have some utility consolidated billing accounts purchased and others not purchased


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HOW RECEIVABLES ARE PURCHASED

  • Within one (1) business day of validating the meter read, Duke Energy Ohio prints its invoices for a given billing cycle containing rate-ready supplier charges

  • Duke Energy notifies the supplier of the amounts billed for each account being purchased

  • Via wire transfer, payment is made within twenty (20) business days following the end of each month in which the customers’ accounts are billed

  • The amount transferred is the invoiced amount for natural gas delivered by the supplier, taxes associated therewith, less the agreed upon discount rate


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