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[UPDATED to clarify that although Foster will be the third senior executive to leave PJM since the GreenHat default, she had no role in it.] By Rich Heidorn Jr. Interim PJM CEO Susan J. Riley on Monday announced a shakeup of the RTO’s State and Member Services Division, the latest...
By Amanda Durish Cook Taking a cue from PJM’s financial transmission rights market debacle, MISO will this month draft Tariff changes designed to further protect all of its markets from financial defaults — including a measure that could spell bans for defaulting parties. MISO is proposing to increase collateral requirements...
By Rich Heidorn Jr. FERC last week rejected an administrative law judge’s finding that PJM’s transmission study process is unjust and unreasonable for developers seeking to secure incremental auction revenue rights (IARRs) by making upgrades to reduce grid congestion (EL15-79). The commission reversed ALJ Philip C. Baten’s January 2018 initial...
By Amanda Durish Cook MISO and PJM said Tuesday they will propose changes to how they determine flowgate rights in a white paper in November. The RTOs use an April 1, 2004, "freeze date" to determine firm rights on flowgates based on historical firm flows that occurred before the creation...
VALLEY FORGE, Pa. — Interim PJM CEO Susan J. Riley told the Markets and Reliability Committee on Thursday that work continues in the Financial Risk Mitigation Senior Task Force to overhaul credit policies in the wake of the GreenHat Energy default. "We want to be sure that we are not...
By Christen Smith Shell Energy and Old Dominion Electric Cooperative failed to make their case that they belong at the GreenHat Energy settlement table, FERC said in denying the companies’ rehearing requests Thursday. FERC said the companies’ argument that they are "uniquely situated" in the proceeding and that their late...
Riley: Keep Market Changes, Credit Policy Reforms Separate
Jul 29, 2019
Interim PJM CEO Susan J. Riley told the Markets and Reliability Committee last week that the Board of Managers remains committed to an overhaul of market design in the wake of the GreenHat Energy default, but she urged stakeholders to move forward on "badly needed" credit policy reforms. "I’m in...
By Christen Smith PJM on Monday announced the selection of its first chief risk officer — the official who will oversee the RTO’s credit policies in the wake of the GreenHat Energy default. Nigeria Poole Bloczynski | PJM Nigeria Poole Bloczynski will join PJM on July 29 after serving as...
By Hudson Sangree FERC on Wednesday ordered energy firm Vitol and one of its senior traders to show cause why they should not be fined for manipulating CAISO’s market to limit losses on the company’s congestion revenue rights (IN14-4). The trader, Federico Corteggiano, had helped create software for CAISO’s CRR...
By Christen Smith Shell Energy wants a seat at the GreenHat Energy settlement table, saying it is "uniquely situated" in the proceeding and could bear a disproportionate financial burden based on its outcome. In its request for rehearing filed Friday, Shell argued FERC erred when it dismissed more than a...