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January 25, 2012
ERCOT has submitted Nodal Protocol Revision Request (NPRR) 438, which would institute new minimum capitalization requirements applicable to market participants.
December 15, 2011
The Pennsylvania PUC should provide electric distribution companies with the ability to "adjust" the credit requirements for electric generation suppliers due to the proposed acceleration of the switching timeline, the FirstEnergy electric distribution companies (EDCs) said in comments to the PUC (M…
December 5, 2011
ERCOT's Credit Work Group will discuss today draft minimum market participation standards, which include minimum capitalization requirements, and are similar to those recently required at other RTOs by FERC.
November 30, 2011
PJM has filed tariff changes with FERC to implement, as required by FERC, periodic audits of a market participant's risk management policies by PJMSettlement.
November 8, 2011
Requiring all short-term default service contracts in Pennsylvania to have an end date on or before May 31, 2015, "would not adequately protect default service customers from the risk of purchasing under adverse market conditions," the Pennsylvania Office of Consumer Advocate said in response to a…
November 7, 2011
Gexa Energy earnings were lower by about $21 million for the three months ended September 30, 2011, versus the year-ago quarter, due to the extreme hot weather in Texas during the month of August, parent NextEra Energy said Friday.
November 1, 2011
Pepco and Delmarva Power have sought rehearing of the Maryland's PSC order issuing an RFP for 1,500 MW of new capacity, arguing that the Commission must address several threshold issues, including cost recovery, prior to issuing an RFP.
October 20, 2011
A California PUC agenda (draft) decision concerning electric service provider (ESP) security requirements would remove certain costs, for non-mass market customers, originally proposed to be included in the security requirements (R. 07-05-025).
October 18, 2011
Fresh off scoring a victory which will needlessly add millions to retail electric rates, generators are now seeking to lighten their own credit burden under FERC's RTO credit "reform" order (ER11-3972 et. al.).
October 7, 2011
Stop us if you've heard this before: "A seemingly inevitable shake-out in ERCOT's retail power market is slowly but surely underway as smaller players begin showing signs that operations are untenable."
October 4, 2011
NRG Energy executives are "baffled" by the lack of fallout from the extreme heat and wholesale pricing in the ERCOT market on retail electric providers, NRG CEO David Crane said during an investor call to revise guidance downward due to the difficult August.
September 21, 2011
Constellation Energy sees the potential fallout from this summer's extreme heat in ERCOT, particularly on less capitalized REPs, as favorable for market consolidation and margin expansion, Senior Vice President and CFO Jonathan Thayer said at a Bank of America Merrill Lynch investor conference…
September 16, 2011
FERC yesterday ordered the RTOs to engage in ongoing compliance reviews of market participants' risk management policies, further expanding the breadth of RTOs' power beyond their originally intended functions.
July 21, 2011
Various proposals from PJM regarding increased credit requirements, in response to the FERC RTO credit "reform" order, will not help avoid the intended moral hazard or limit risk, and are instead, "just market barriers that solidify the dominance of large incumbent players," CCES LLC said in…
July 8, 2011
The Georgia Court of Appeals has denied a petition from MXenergy to review a lower court's ruling which affirmed the Georgia PSC's allocation of costs arising from the default of Catalyst Natural Gas, LLC in 2008.
July 5, 2011
Market participants in ISO New England would be required to have an investment grade credit rating, maintain a minimum tangible net worth of $1 million, or maintain a minimum of $10 million in total assets under proposed new minimum participation requirements proposed by ISO-NE.
July 5, 2011
New York ISO's proposed capitalization requirement for market participants would require market participants to demonstrate, based on their most recent audited financial statements, either $10 million in assets or $1 million in tangible net worth.
July 1, 2011
PJM has proposed two sets of minimum participation criteria which market participants would be required to meet in order to participate in the PJM market, which small firms have said will drive them out of the market.
May 11, 2011
Several Ohio retail gas suppliers have requested that PUCO require Columbia Gas to allow the use of financial instruments for the required "cross collateral" which winning suppliers must post under Columbia's proposed Standard Choice Offer (08-1344-GA-EXM).
April 11, 2011
Several measures taken by ERCOT in February to exclude the impacts of the anomalous severe weather event on credit requirements prevented several additional retail electric providers from defaulting, two leading retail executives told KEMA's Executive Forum.
March 25, 2011
Direct Energy has served roughly 10,000 prepaid customers in Texas under the current version of in Subst. R. 25.498.
February 18, 2011
FERC granted limited rehearing on its October RTO credit reforms order, eliminating the prior provision allowing corporate families to use up to $100 million in unsecured credit, while limiting other stakeholders to $50 million.
February 11, 2011
ERCOT issued the following clarifications on the previously reported approach to exclude the impact of last week's weather event from forward components of credit calculations.
February 4, 2011
ERCOT ended statewide emergency conditions yesterday, however, local generation and transmission issues in the Rio Grande Valley required rolling outages for that area for a brief period overnight, with ERCOT warning such outages could continue Friday morning.
February 3, 2011
Rolling outages in ERCOT ended at approximately 2:00 p.m. local time yesterday, but ERCOT is continuing to urge conservation, stating that any additional unexpected major losses of generation could force operators to begin emergency procedures to avoid an uncontrolled statewide blackout.
