April 1, 2012
FERC Approves Extension of Price Floor in Capacity Auction
FERC has approved the extension of the price floor in the ISO New England Forward Capacity Auction (FCA), and adopted a modification to the price floor (ER12-953).
FERC
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March 30, 2012
Maryland Utilities Cite Risks from Obligations Under Long-Term Capacity Contracts if Agreements' Approval Litigated
The Maryland investor-owned electric distribution companies (EDCs) have informed the Maryland PSC that the existing draft contract for differences to be procured under the PSC's capacity RFP (see 9/30) poses serious risks to the EDCs and their customers if any awarded contracts become subject to…
March 29, 2012
Independents EGSs Urge Pennsylvania to Adopt Retail Market Enforcement Hotline, Require EDC or EGS Disgorgement for Conduct Violations
A group of Independent Electric Generation Suppliers (EGSs) has recommended that the Pennsylvania PUC adopt an anonymous enforcement hotline, and require disgorgement for any violations of the code of conduct governing relations between electric distribution companies (EDCs) and retail suppliers.
March 27, 2012
FirstEnergy Solutions Files Complaint at FERC Over Allocation of FTRs for Facilities Returning to Service
FirstEnergy Solutions Corp. has filed a complaint at FERC concerning rules governing the PJM Auction Revenue Right (ARR) allocation process for transmission facilities that have been modeled as out-of-service for the entire year but which return to service for one or more months.
March 22, 2012
AEP Seeks Higher Capacity Charge from Retail Suppliers at Indiana Michigan Power
Indiana Michigan Power Company (I&M), an AEP company, has sought FERC approval to charge a capacity rate other than the Reliability Pricing Model clearing price for capacity it provides to retail suppliers as the Fixed Resource Requirement entity (ER12-1173).
March 16, 2012
FERC Chairman Warns Suppliers on Market Manipulation
FERC Chairman Jon Wellinghoff made the following statement at yesterday's FERC open meeting concerning the settlement with Constellation Energy Commodities Group regarding a FERC investigation into market manipulation.
March 16, 2012
PJM Again Meddling in State Capacity Affairs; Questions Ohio Action on AEP Ohio Capacity Rate
Despite the clear and plain language of the PJM tariff, whose meaning has already been confirmed by FERC, PJM suggests that FERC has a role in determining the state compensation mechanism to price capacity provided by Fixed Resource Requirement entities to competitive retail suppliers.
March 12, 2012
NYISO Calls Annual New Capacity Zone Process Unfeasible, Will Revisit Over Time
The New York ISO, "plans to revisit the possibility of evaluating the need for new capacity zones (NCZs) more frequently as it progresses through the first process cycle to evaluate and establish a new zone," but, at this time, believes that an annual examination and implementation of new capacity…
March 12, 2012
Exelon, Constellation Complete Merger After FERC Approval
Exelon Corporation and Constellation Energy have completed their merger, effective today, in the wake of FERC's approval of the transaction on Friday.
March 12, 2012
Constellation to Pay $135 Million, Disgorge $110 Million Under Settlement Related to FERC Market Manipulation Investigation
FERC has approved a settlement between its Office of Enforcement and Constellation Energy Commodities Group (CCG) to resolve an investigation into whether Constellation violated the Commission's Anti-Manipulation Rule, under which Constellation has agreed to pay a civil penalty of $135 million and…
March 8, 2012
Connecticut-Based Supplier Community Power & Utility LLC to be Sold
Community Power & Utility LLC, a retail electric supplier based in Brookfield, Conn., informed FERC that it is in the process of selling itself.
March 7, 2012
PJM Seeks Permanent Termination of Grunwald Fund as Member
PJM has filed revisions to its operating agreement to reflect the permanent termination of Grunwald Fund, LP as a PJM Member in accordance with Sections 15.1.6(c) and 4.1(c) of the operating agreement.
March 6, 2012
FERC Rejects IMM Request to Limit Sellers' Ability to Justify Capacity Price Below Price Floor
FERC has rejected a request from the PJM Independent Market Monitor for "clarifications" to the PJM Minimum Offer Price Rule in the capacity market, as FERC found the request to be an untimely request for rehearing.
March 5, 2012
Briefly
Direct Energy Cites Cross-Sell Potential in Completing Acquisition of Home Warranty of America
March 2, 2012
ERCOT Selects Brattle, Author of Highly Criticized Capacity Market Report, for Resource Adequacy Study
ERCOT has awarded the Request for Proposal for a study to examine resource adequacy incentive factors, and factors that influence investment decisions for generation, to the Brattle Group, Inc.
March 1, 2012
AEP Ohio Seeks Expedited FERC Action on Capacity Charge Complaint
FirstEnergy Solutions has opposed AEP Ohio's motion to reinstate the bifurcated capacity pricing mechanism applicable to retail suppliers, while AEP Ohio has asked FERC to expedite ruling on its complaint concerning the state compensation mechanism for capacity pricing.
February 17, 2012
FERC Retains More Stringent HHI Values for Market Power Assessment
FERC has decided to retain its existing policies regarding the analysis of horizontal market power when reviewing transactions under section 203 of the Federal Power Act and in its electric market-based rate program (RM11-14).
February 17, 2012
FERC Approves CAISO Capacity Procurement Mechanism Settlement Which Features New Pricing
FERC approved a settlement adjusting the capacity price under the California ISO's Capacity Procurement Mechanism (CPM), and other terms of the mechanism (ER11-2256).
February 17, 2012
D.C. Approves Horizon Power & Light Remedial Action Plan
The District of Columbia PSC approved Horizon Power & Light's proposed action plan to resolve a request by the Office of People's Counsel for an investigation of Horizon given certain customer complaints (see 11/22) .
February 13, 2012
Exelon Proposal Threatens Customer Choice in Texas
It is becoming increasingly clear that the biggest threat to retail customer choice is not regulators, legislators, incumbent utilities, or consumer advocates, but rather the owners of formerly incumbent generating assets, who now seek to foreclose the retail market after successfully stopping the…
February 10, 2012
AEP to File at FERC Today to Separate Ohio Businesses
AEP said this morning that it plans to file today at the Federal Energy Regulatory Commission (FERC) to separate its Ohio businesses and to terminate and replace the Interconnection Agreement for its eastern generating assets with a new power cost sharing arrangement.
February 9, 2012
N.J. BGS Auction Produces Lower Prices for Mass Market Customers
The New Jersey BPU has posted results from the annual Basic Generation Service auctions.
February 2, 2012
Briefly
PUCO Approves New Retail Price Adjustment at Vectren
January 31, 2012
FERC Accepts Changes to Maintain Higher Capacity Prices in PJM
FERC accepted several changes to the Reliability Pricing Model tariff which will act to raise capacity prices, but ordered hearing and settlement procedures regarding the Cost of New Entry (CONE).
January 31, 2012
FERC Enforcement Staff Alleges Market Manipulation by Constellation Energy Commodities Group
The Staff of the Office of Enforcement of the Federal Energy Regulatory Commission, in a nonpublic preliminary investigation, "has preliminarily determined that Constellation Energy Commodities Group, Inc. (CCG) violated the Commission's Prohibition of Electric Energy Market Manipulation, 18 C.F.R…