FERC Accepts Changes to NYISO's Scarcity Pricing Mechanism Subject to Condition
On March 1, 2016, the Federal Energy Regulatory Commission ("FERC") accepted, subject to condition, the New York Independent System Operator, Inc's. ("NYISO") proposed revisions to the scarcity pricing mechanism NYISO uses in its real-time market, set forth in its Market Administration and Control Area Services Tariff ("Services Tariff") and Open Access Transmission Tariff ("OATT"). In the order, FERC ordered NYISO to submit a compliance filing to clarify whether its proposed revisions apply to scarcity events, shortage events, or both. [Read more]
FERC Grants Extension of CIP Version 5 Implementation Deadline
On February 25, 2016, the Federal Energy Regulatory Commission ("FERC" or the "Commission") extended the implementation deadline for the critical infrastructure protection ("CIP") version 5 Reliability Standards, from April 1, 2016 to July 1, 2016, granting a February 4, 2016 motion filed by several industry trade associations requesting the extension. [Read more]
DCPSC Rejects Exelon-Pepco Merger for Second Time
On February 26, 2016, the Public Service Commission of the District of Columbia ("DCPSC") issued an order rejecting the Nonunanimous Full Settlement Agreement and Stipulation ("Settlement"), which proposed to amend the terms of the proposed merger between Exelon Corporation ("Exelon") and Pepco Holdings, Inc. ("Pepco" and together with Exelon, "Joint Applicants"). In the order, the DCPSC determined that the Settlement was not in the public interest. Instead, the DCPSC proposed a Revised Settlement that would, among other things, defer its decision on the allocation of a proposed $25.6 million for Customer Base Rate Credit in the Settlement. [Read more]
FERC to Convene Technical Conference on Potential Software Enhancements to Increase Day-Ahead, Real-Time Market Efficiency
On February 29, 2016, FERC issued a notice of a technical conference to be held at FERC's headquarters on June 27, 28, and 29, 2016 to discuss opportunities for increasing real-time and day-ahead market efficiency through improved software. The notice indicates a detailed agenda will be posted on FERC's website after April 22, 2016. [Read more]
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