Energy Market

Bonneville Power Administration
Nonprofits Tell 9th Circuit BPA’s Day-Ahead Market Decision Poses ‘Imminent’ Harm
The consequences of the Bonneville Power Administration’s decision to join SPP’s Markets+ could hit the Northwest sooner rather than later even though the agency has yet to formally join the market, a group of nonprofits suing it over the choice told the 9th U.S. Circuit Court of Appeals.
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CAISO Unveils Principles for Western Seams Coordination
CAISO released a set of guiding principles for upcoming discussions about seams between the ISO, SPP and other entities as the Extended Day-Ahead Market nears its opening in May.
PJM
PJM MRC/MC Briefs: Feb. 19, 2026
Stakeholders endorsed PJM’s recommended installed reserve margin and forecast pool requirement for the 2028/29 Base Residual Auction at the Markets and Reliability Committee meeting.
Shutterstock
FERC Eliminates Western ‘Soft’ Price Cap
FERC has rescinded the West-wide wholesale electricity price cap mechanism it implemented in response to widespread price manipulation during the Western energy crisis of 2000/01, saying development of new markets and expanded authority has led to improved monitoring capabilities.
Constellation Energy
FERC Denies Rehearing Requests on Constellation-Calpine Merger
FERC upheld its approval of Constellation Energy’s purchase of Calpine while also addressing arguments from consumer and environmental groups.
MISO
MISO: Gen Performance Lacking During January Winter Storm
MISO said lackluster generating unit performance led to an emergency declaration during the late January winter storm.
CAISO
CAISO WEIM Surpasses $8B in Cumulative Benefits
CAISO’s Western Energy Imbalance Market surpassed $8 billion in cumulative economic benefits since its 2014 launch after providing participants with $415.65 million in gross benefits in the fourth quarter of 2025, according to an ISO report.
Western Energy
Pathways’ ROWE Selects Interim Leaders
The Regional Organization of Western Energy selected Western Freedom Executive Director Kathleen Staks as its interim president, while regulatory attorney Lisa Tormoen Hickey will assume the role of interim secretary.
Western Energy Markets
Caution Urged as Regulators Consider NV Energy’s Request to Join EDAM
Some parties are urging Nevada regulators to wait until initial results are in for CAISO's Extended Day-Ahead Market before deciding whether to allow NV Energy to join.
NYISO
Winter Storm Drives Potential Record for January N.Y. Electricity Costs
The average cost for electricity in NYISO was $201.89/MWh in January, up nearly 53% from January 2025 and possibly the highest ever for the month, the ISO reported.

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