FERC Closes Book on PJM’s ‘Paper Capacity’ Concerns

By Rory D. Sweeney FERC has signaled that it’s done dealing with PJM’s concerns about market participants selling “paper capacity” to arbitrage price differences between the Base Residual and Incremental Auctions. The commission issued an order Tuesday rejecting changes to the Incremental Auction (IA) structure and terminating a longstanding proceeding...