Our summary of the issues scheduled for votes at the PJM MRC on 05/28/15. Each item is listed by agenda number, description and projected time of discussion, followed by a summary of the issue and links to prior coverage.

PJM Market Monitor Joe Bowring had a lively debate with one of the consultants for Powhatan Energy over the “duty” of market participants to self-police against market manipulation.

If FERC keeps its word, virtual traders in PJM should have clarity by the end of October on whether up-to-congestion transactions will be subject to additional charges.

A proposal to impose a temporary $0.07/MWh uplift charge on all netted virtual transactions received a cool response from PJM members Thursday — including a rebuff from the attorney for the Financial Marketers Coalition.

Attorneys for Powhatan Energy Fund and Kevin Gates accused FERC's Office of Enforcement of withholding information that could exonerate their clients in a high-profile market manipulation case.

The RTO stakeholder process came under fire last week at a FERC technical conference on the treatment of financial transactions in PJM.

FERC issued an Order to Show Cause seeking $29.8 million in fines from the Powhatan Fund, in a case that became the centerpiece of a debate over FERC enforcement policy during Commissioner Norman Bay’s confirmation process earlier this year.

UTCs in PJM have dropped by about 85% since September, after the FERC said it might make the transactions liable for uplift assessments.

PJM will forego $10.2 million in BOR charges resulting from DC Energy and Scylla transactions characterized as IBTs under a settlement approved by FERC.

Up-to-congestion (UTC) trading plummeted by about two thirds this week following a FERC order that could result in sharply increased costs for traders.