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February 21, 2026

Independent Market Monitor (IMM)

LS Power
FERC Partly Grants Complaint on PJM Opportunity Cost Adders
FERC partly granted a complaint from LS Power challenging the calculation of opportunity cost adders, requiring operating agreement revisions.
Cleco
IMM: MISO Should Penalize Gen that Falls Flat on Emergency Output
The MISO Independent Market Monitor called on the RTO to develop a penalty system for generation for underperformance during emergencies.
Constellation Energy
FERC Approves Constellation Purchase of Calpine with Conditions
FERC approved Constellation's purchase of Calpine, which will create an even bigger IPP with nearly 60 GW around the country, with the biggest share of that in PJM.
© RTO Insider
FERC Sides with Market Monitor over MISO in Compensation Dispute
FERC sided with MISO IMM David Patton, denying a petition from MISO that would have prevented the RTO from reimbursing the Monitor for reviewing the market impact of transmission planning.
MISO
IMM: NERC Reliability Assessment Still Overstating MISO Risk
MISO’s Independent Market Monitor has expressed lingering dissatisfaction with NERC’s Long-Term Reliability Assessment, even with potentially corrected values.
© RTO Insider 
MISO Monitor Targets Tx Congestion in State of the Market Report
MISO’s Independent Market Monitor has released four new market improvement recommendations concerning transmission congestion, the Midwest-South transmission link, market-to-market coordination and price settlements after grid devastation.
MISO
MISO to Axe Energy Efficiency from Capacity Market
MISO said it no longer will recognize energy efficiency as a capacity resource beginning with the 2026/27 auction.
© RTO Insider
NERC Responds to MISO IMM’s LTRA Criticism

NERC acknowledges it used mismatched data to calculate MISO's risk level in its Long-Term Reliability Assessment and plans to release a revised report soon.

© RTO Insider LLC
MISO IMM Contends he Should Have Role in Tx Planning Oversight

The MISO Independent Market Monitor insisted to FERC that MISO’s own rules allow him to assess transmission. Market monitors of other grid operators backed him up.

Potomac Economics
ERCOT ESRs, Solar Production Lessen AS Costs

Energy storage resources and solar capacity helped reduce ancillary services costs and tight system conditions in the ERCOT market during 2024, according to a recent market report.


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