FERC ordered PJM to make an additional compliance filing on its rules for fast-start resources, saying the RTO’s proposal gave itself too much discretion.

Midcontinent ISO now has a fifth wintertime waiver of its $1,000/MWh offer cap in hand after FERC approved the RTO’s request on Nov. 16.

PJM and the Monitor presented members with separate proposals to revise the long-term financial transmission rights market.

NYISO power prices surged to an average of $99.55/MWh in January, up 89% from December and 148% from the same month a year ago.

NYISO locational-based marginal prices (LBMPs) have averaged $36.35/MWh for the year through July, a 12% increase from a year earlier.

The FERC proposal to apply a new offer cap construct uniformly across the markets is a good and fair solution, ConEdison argues.

A summary of issues discussed at the PJM MRC and Members Committee meeting on Jan. 28, 2016.

MISO will not raise its energy offer cap for the coming winter but will ask FERC to approve another waiver allowing recovery of costs above $1,000/MWh through uplift.

MISO said it may increase its energy market offer cap to $1,500/MWh this winter in response to expected FERC action.

The PJM Markets and Reliability Committee voted overwhelmingly Thursday to raise the energy market offer cap to $2,000/MWh in a move that outgoing CEO Terry Boston called “the stakeholder process at its best.”