FERC Issues NOPRs to Collect More Market Data

FERC proposed requiring certain market participants that are not subject to Section 205 of the Federal Power Act to file electric quarterly reports (EQRs), which FERC said would enhance market transparency.

Currently, public utilities (e.g. investor-owned utilities) must file EQRs summarizing contractual terms and conditions in their agreements for cost-based and market-based rate sales and transmission service, as well as transaction information for cost-based and market-based rate sales and transmission capacity reassignments. FERC's proposal (RM10-12) would extend those requirements to non-public utilities (e.g. munis, co-ops) with annual wholesale sales of more than 4 million MWh and to non-public utility balancing authorities with 1 million MWh or more in annual wholesale sales.

In addition, FERC proposed to refine the EQR requirements by directing all filers to, among other things: report the transaction date, time and type of rate; indicate whether the transaction was reported to an index publisher; identify any broker or exchange used for a sales transaction; and report electronic tag ID data.

Separately, FERC proposed (RM11-12) requiring the North American Electric Reliability Corporation to provide electronic tagging data to help FERC monitor wholesale markets and prevent market manipulation, and help assure just and reasonable rates. FERC sought access to this information through NERC instead of market participants to avoid burdening the market participants with submitting the same data to both NERC and FERC.

FERC also is seeking comment on whether to make electronic tag information available to the RTOs' Market Monitoring Units.