FERC Issues NOPR Proposing to Collect Uniform Organized Market Participant Data
On September 17, 2015, FERC issued a notice of proposed rulemaking ("NOPR") that seeks to require each regional transmission organization ("RTO") and independent system operator ("ISO") to deliver to FERC electronic data on an ongoing basis from their respective market participants that would (1) list their "Connected Entities," (2) describe the nature of the relationship with each Connected Entity, and (3) identify each market participant using a common alpha-numeric identifier. Among other reasons, FERC stated that the data would assist FERC in screening and investigating cases involving market manipulation by providing the Office of Enforcement with a more complete view of the relationships between market participants and the incentives underlying their trading activities. [Read more →]
Northwest Power Pool Seeks FERC Guidance on Development of Sub-Hourly Energy Market
On September 4, 2015, the Northwest Power Pool ("NWPP") members' Market Assessment and Coordination Committee ("MC") submitted a petition for declaratory order, requesting FERC make determinations with respect to four categories of issues associated with the development of the NWPP's Centrally Cleared Energy Dispatch Market ("CCED Market"). The CCED Market would provide a platform for voluntary 15-minute trading at a single-market clearing price. [Read more →]
FERC Proposes Rule Granting Commission Access to NERC Data
On September 17, 2015, the Commission issued a Notice of Proposed Rulemaking ("NOPR") in which it proposed to amend its regulations to require the North American Electric Reliability Corporation ("NERC") to provide the Commission and Commission staff with on-going, non-public access to three NERC databases: (i) the Transmission Availability Data System ("TADS") database; (ii) the Generating Availability Data System ("GADS") database; and (iii) the protection system misoperations database. According to the Commission, the proposal is intended to provide the Commission with "information necessary to determine the need for new or modified Reliability Standards and to better understand NERC's periodic reliability and adequacy assessments." [Read more →]
FERC Issues Price Formation NOPR
On September 17, 2015, the Commission issued a Notice of Proposed Rulemaking ("NOPR") to address two existing practices that FERC believes result in distorted price signals. The NOPR proposes to address this problem by: (1) requiring that each organized market align settlement and dispatch intervals by settling real-time energy and operating reserves transactions financially at the same time interval that it dispatches energy and prices operating reserves; and (2) requiring that each organized market trigger shortage pricing for any dispatch interval during which a shortage of energy or operating reserves occurs. [Read more →]
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