November 19, 2024
Market Monitor Corrects Exclusion List on Talen Energy; Adds Exelon, Duke
Duke Energy and Exelon should be among the companies barred from acquiring any generation divested by PPL as part of its Talen Energy spinoff, the IMM told FERC.

Duke Energy and Exelon should be among the companies barred from acquiring any generation divested by PPL as part of its spinoff plan, the Independent Market Monitor told the Federal Energy Regulatory Commission.

The IMM submitted a corrected list (EC14-112) to replace one that it said erroneously excluded the two companies and mistakenly included Edison International.

PPL and Riverstone Holdings announced in June they would join their generation businesses into a publicly traded independent power producer named Talen Energy. The new company would own 15,320 MW of capacity, including 12,000 MW in PJM.

In their application to FERC, the companies proposed selling about 1,300 MW of PJM generation to avoid market power complaints. The companies said that no company with more than 10% of PJM’s summer installed capacity — a group that includes Exelon, NRG Energy and PSEG — should be permitted to bid for the plants.

The IMM says those barred from purchasing the assets should also include American Electric Power, Calpine, Dominion Resources and FirstEnergy. (See Market Monitor on Talen Plan: Not So Fast.)

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