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May 22, 2024

Financial Transmission Rights (FTR)

Gridwell Consulting
Congestion Revenue Rents Still Underfunded, CAISO DMM Says
Congestion revenue rights auctions averaged $62 million in losses between 2019 and 2023, down nearly $50 million since changes were implemented in 2019 but “still very high,” said CAISO’s Department of Market Monitoring.
© RTO Insider LLC
PJM Monitor Finds Markets Overall Competitive
Average load-weighted electricity prices in PJM fell by around half in 2023, the Independent Market Monitor said in its annual State of the Market Report.
NERC
Counterflow: More Stuff That Ain’t So
Columnist Steve Huntoon says a recent Moody’s report uses misleading data to make its case for investing in transmission to solve reliability problems.
© RTO Insider LLC
FERC Rebuffs PJM, SPP on FTR Credit Rules

FERC remained dissatisfied with PJM’s and SPP’s FTR credit policies, while ending inquiries into those of CAISO, ISO-NE and NYISO.

PJM
DC Circuit Sides with FERC on Alleviating Spiking Prices in Virginia
The United States Court of Appeals for the District of Columbia Circuit sided with FERC, upholding its decision to suspend PJM's transmission penalty factor when it was driving up prices in Virginia.
Monitoring Analytics
DC Circuit Upholds FERC on PJM FTR Rule
The D.C. Circuit upheld FERC’s decision to OK PJM’s FTR forfeiture rule without ordering refunds under previous rules implemented without commission approval.
© RTO Insider LLC
MISO FTR Underfunding Hits $60M in Spring, Improvements Coming in 2025
MISO’s Independent Market Monitor reported that the RTO’s financial transmission rights market came up short by more than $60 million this spring.
© RTO Insider LLC
FERC Approves Termination of FTR Trader’s Member Status
FERC granted PJM’s request to terminate the membership of Hill Energy Resource & Services following the company’s failure to pay invoices on time in 2022.
© RTO Insider LLC
PJM MRC/MC Briefs: Feb. 23, 2023
The PJM Markets and Reliability Committee endorsed an RTO proposal to increase the maximum number of bids a single corporate entity can enter into FTR auctions.
© RTO Insider LLC
Berkeley Lab: Wind Generation Needs More Flexible FTRs
Researchers at Berkeley Lab say growing renewable generation mean it’s likely time to retool the design of financial transmission rights in wholesale markets.

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