A. The Commission declares that it is in the public interest for public service companies to implement diverse supplier programs to promote economical delivery of utility services and positively impact the economy of the State. Accordingly, the Commission has established a Supplier Diversity Program consisting of entry into a voluntary memorandum of understanding (MOU) with individual companies.
B. Under the Supplier Diversity Program, entities regulated by the Commission that voluntarily enter into an MOU will develop, implement, and consistently report on their activities and accomplishments in promoting a strategy designed to create viable and prosperous minority, women, and service-disabled-veteran-owned business enterprises by providing them with the maximum opportunity to participate in and compete for contracts and subcontracts in their supply chain for goods and services.