Denise Foster Takes over as MRC Chair Denise Foster | © RTO Insider VALLEY FORGE, Pa. — Denise Foster, PJM’s vice president of state and members services, chaired her first Markets and Reliability Committee meeting on Thursday, replacing retired CFO Suzanne Daugherty. Foster came to PJM not once, but twice...

By Christen Smith and Rich Heidorn Jr. VALLEY FORGE, Pa. — PJM stakeholders approved a charter on Thursday for a senior task force dedicated to implementing market rule changes in the wake of the 890 million-MWh GreenHat Energy default. Vince Duane | © RTO Insider "The board message is quite...

VALLEY FORGE, Pa. — PJM on Wednesday proposed an alternative stakeholder process to implement the market rule changes recommended in a special report on the RTO’s role in the GreenHat default. Last month, three independent consultants completed a six-month probe into how a small trading shop amassed the largest portfolio...

RENSSELAER, N.Y. — NYISO on Wednesday reported that it confronted minimal operating challenges this past winter as New York enjoyed relatively mild weather for most of the season. Emilie Nelson, ISO vice president of operations, told the Management Committee that there were two noteworthy periods of cold conditions this winter.

By Christen Smith Naive, overconfident staff and underlying market flaws allowed a small trading shop to amass the largest portfolio of financial transmission rights in PJM history without the collateral to back it up, an independent review concluded on Tuesday. The RTO’s Board of Managers commissioned a special report on...

By Robert Mullin FERC on Tuesday approved Tariff revisions intended to relieve costs for MISO resources pseudo-tying into PJM despite criticism the changes don’t go far enough in easing their financial burdens (ER19-34). The new MISO Tariff provisions are the second phase of a joint MISO-PJM effort to facilitate the...

VALLEY FORGE, Pa. — The PJM Market Implementation Committee on Wednesday heard a first read on a proposed change to the calculations for financial transmission rights forfeitures. Brian Chmielewski, manager of market simulation, said PJM and the Independent Market Monitor agreed the current forfeiture rules should be adjusted because they...

By Amanda Durish Cook The fallout from GreenHat Energy’s record default in PJM’s financial transmission rights market prompted MISO officials on Wednesday to reassure members that such failures are unlikely to happen there. "MISO doesn’t believe there’s as much of a risk in our market versus PJM’s," Director of Finance...

(Updated to add PJM's motion for stay, filed Feb. 21.) By Christen Smith and Rich Heidorn Jr. PJM Chief Financial Officer Suzanne Daugherty will retire April 1 after months of recriminations by stakeholders over credit policies that allowed a small trading shop to default on more than $100 million in...

By Rich Heidorn Jr. VALLEY FORGE, Pa. — PJM won’t act on FERC’s order to rerun its July 2018 financial transmission rights auction unless the commission denies the RTO’s planned motion for a stay, officials told members Wednesday. FERC’s Jan. 30 order rejected PJM’s request to waive rules requiring it...