FERC ordered a paper hearing on the PJM transmission owner’s proposed tariff revisions to add network upgrades to rate base, requesting more information.

PJM TOs provided no evidence that they are having difficulty raising capital but insisted the law was on their side in their bid to rate-base network upgrades.

FERC directed PJM’s transmission owners to provide evidence that they are being squeezed financially by their inability to earn a return on network upgrades.