Western Energy Crisis
Sellers of spot electricity deliveries that exceed the Western price cap will now have more time to submit the FERC filing required to justify higher prices.
FERC provided guidance to Western electricity sellers on how and when to seek exceptions for transactions that exceed the region’s $1,000/MWh soft cap.
FERC issued a set of orders signaling the disputes around the Western energy crisis of 2000/01 might finally be winding down.
The CPUC warned that the state could return to the conditions preceding the energy crisis of the early 2000s if decision-making is not managed correctly.
FERC approved CAISO’s request to be relieved of its requirement to develop a conceptual statewide plan as part of its regional transmission planning process.
California officials are reconsidering retail choice, two decades after a deregulation drive that faltered in the Western Energy Crisis of 2000/01.
The FERC decision dealt with companies implicated in manipulating prices during the initial "Summer Period" of the Western Energy Crisis.
FERC ruled that Shell and Hafslund can not use the costs associated with illegal trading activity during the Western Energy Crisis to offset their refund.
FERC said evidence of price reporting deficiencies by power sellers during the Western Energy Crisis cannot constitute the sole basis for a finding of market manipulation.
FERC last week eliminated the must-offer obligation in effect throughout WECC since the tail-end of the California energy crisis of 2000-2001.
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