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December 6, 2025

Energy Market

Constellation Energy
Constellation-Calpine Merger Draws Protests over Market Power Concerns in PJM
FERC received several protests to Constellation's proposed purchase of Calpine, with PJM's Monitor arguing the companies need to make additional commitments to preserve competition in the RTO.
CAISO
Fast-paced Effort will Address EDAM Congestion Revenue Issue
CAISO launched an “expedited” initiative to address stakeholder concerns about how EDAM will allocate congestion revenues when a transmission constraint in one balancing authority area causes congestion in a neighboring BAA.
PJM
PJM MRC/MC Briefs: March 19, 2025
The Markets and Reliability Committee endorsed PJM's recommended installed reserve margin and forecast pool requirement values for the 2026/27 Base Residual Auction.
© RTO Insider
BPA Workshop Leaves Little Room to Probe Markets+ Decision
The Bonneville Power Administration’s first day-ahead markets workshop since issuing the draft policy stating its intention to join SPP’s Markets+ left little opportunity for critics to probe agency officials about the decision.
FERC
FERC State of the Markets Report Shows Load Growth, Lower Prices
FERC's State of the Markets report showed lower wholesale energy prices but growing demand and higher capacity prices that signal a need to meet the coming load.
Capital Power
CAISO, EDF Trading Settle Fuel Cost Recovery Dispute
FERC approved a $528,000 settlement that ends a dispute between EDF Trading North America and CAISO over fuel cost recovery.
SPP
FERC Approves Tariff for SPP RTO West
FERC accepted SPP's proposed tariff revisions that will incorporate seven Western Interconnection entities as transmission-owning members of the RTO.
© RTO Insider
NYISO Business Issues Committee OKs Firm Fuel Accreditation Concept
The NYISO Business Issues Committee approved, in concept, implementation of the ISO’s new firm fuel election process and requirements as part of its changes to capacity accreditation.
© RTO Insider
PJM Market Monitor Publishes Mixed Views in Annual Report
PJM’s markets provided reliable service in 2024, but tightening supply and demand are laying bare design flaws that have inhibited the competitiveness of the RTO’s markets, the Independent Market Monitor wrote in its 2024 State of the Market Report.
The Brattle Group
NM Regulators Poke Assumptions Behind EPE’s Markets+ Choice
A recent study that contributed to El Paso Electric’s decision to join SPP’s Markets+ rather than CAISO’s Extended Day-Ahead Market has raised questions among New Mexico regulators.

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