financial transmission rights (FTRs)
FERC remained dissatisfied with PJM’s and SPP’s FTR credit policies, while ending inquiries into those of CAISO, ISO-NE and NYISO.
MISO’s Independent Market Monitor reported that the RTO’s financial transmission rights market came up short by more than $60 million this spring.
Researchers at Berkeley Lab say growing renewable generation mean it’s likely time to retool the design of financial transmission rights in wholesale markets.
A financial consulting firm said that MISO’s auction revenue rights and financial transmission rights market needs updating to keep up with the changing grid.
FERC denied PJM’s rehearing request of its rejected FTR credit requirement calculation, but it said it would address the RTO’s arguments in a future order.
PJM asked FERC to rehear a decision that rejected the RTO’s plan to modify its financial transmission rights credit requirement calculation.
Stakeholders urged PJM to hold its ground on collateral requirements for FTR traders, saying it should offer more support for a proposal that FERC rejected.
FERC rejected PJM’s proposal to modify the FTR rights credit requirement and opened a show-cause proceeding to examine the existing requirement.
FERC accepted PJM’s new FTR forfeiture rule without ordering refunds of bills under the previous regime the RTO implemented without commission approval.
PJM is requesting input from stakeholders on a course of action after a member defaulted on its portfolio in the financial transmission rights market.
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