Section 62.112. Transfer or abandonment of license

(a) A license may not be transferred without prior Commission approval. See section 2208(d) of the act (relating to requirements for natural gas suppliers). Approval for transfer shall be obtained by petition to the Commission. A license application shall be filed by the transferee at the same time that the petition for transfer is filed and demonstrate the transferee’s financial and technical fitness to render service under the transferred license.

(b) A licensee may not abandon its license without providing 90 days prior written notice to the Commission, the licensee’s customers, the affected distribution utilities and suppliers of last resort. The licensee shall provide written individual notice to its customers at approximately 90 days and 60 days preceding the effective date of the abandonment.