FERC on Thursday rejected the financial transmission rights forfeiture rule PJM has been using for more than four  years, saying it was overly broad and could discourage legitimate hedging activity. The commission also dismissed FTR trader XO Energy’s complaint challenging the rule, saying its case is now moot (ER17-1433, EL20-41-001).

FERC threatened GreenHat Energy and its owners with $229 million in civil penalties Thursday over the company’s 890 million MWh default of its financial transmission rights portfolio in PJM in 2018. In a report released as part of a commission Order to Show Cause, FERC Office of Enforcement staff alleged...

PJM’s Independent Market Monitor sounded alarms about market power in the energy and capacity markets Thursday and said it may intervene in the RTO’s next Base Residual Auction in May. Joe Bowring, president of IMM Monitoring Analytics, made his comments in releasing the 2020 State of the Market report. Bowring...