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New York PSC Says IPPs' Opposition to Sale, Return of Plant to Operation, "Defeat[s] the Very Purpose of Competition"
The New York PSC found that opposition from other independent power producers to a sale under which the Danskammer would return to service, "defeat[s] the very purpose of instituting electric wholesale markets in the first instance -- to foster robust competition."
The PSC noted that opponents to the approval of lightened regulation for Danskammer's new owner, especially Entergy and the Independent Power Producers of New York, argue that PSL §70 approval should not be granted because the return of the Danskammer facility to operation would be inconsistent with the functioning of NYISO electric wholesale markets. "Entergy insists that approval not be granted because the current record does not provide 'adequate information confirming that the facility is now economic.' IPPNY would require DEL to submit to us any contract it enters into for the sale of wholesale electric products so that the contract can be reviewed to ensure it is consistent with the operation of wholesale markets as IPPNY sees it," the PSC noted.
"Central Hudson and MI, for their part, claim that the opposition of Entergy and IPPNY is motivated by a desire to keep prices in the new ICAP Zone high so that the existing wholesale generators they represent can earn greater profits," the PSC added.
"Both Entergy and IPPNY would, in effect, have us decide if the Danskammer facility can participate in NYISO markets based on an analysis of the economics of the business plans the facility’s owners, as a market participant, propose. It is not our function under lightened regulation, however, to undertake such an analysis of business plans for the purpose of restricting entry into wholesale competitive markets. To take from competitive market participants the ability to analyze their own financial circumstances would defeat the very purpose of instituting electric wholesale markets in the first instance -- to foster robust competition," the PSC said, in granting Danskammer's new owner lightened regulation.
Case 14-E-0117
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June 30, 2014
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Copyright 2010-14 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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