Federal Energy Regulatory Commission (FERC)
The Federal Energy Regulatory Commission is an independent agency that regulates the interstate transmission of electricity, natural gas and oil; reviews proposals to build LNG terminals and interstate natural gas pipelines; and licenses hydropower projects. FERC also oversees operations of regional wholesale electricity and natural gas markets and oversees the reliability of the bulk electric system.
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Facility ratings accounted for two reliability standard violations carrying a total penalty of $272,000.
Bridgepoint Group
FERC denied a merger proposal in which Bridgepoint tried to buy a 19.9% stake in Energy Capital Partners, saying it did so without prejudice because the first firm failed to disclose its relationship with a third – Blue Owl.
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Independent SPP directors overseeing Markets+’s development in the Western Interconnection have lent their approval to the market’s draft tariff, the culmination of several months of drafting and refinement.
Invenergy
After a fresh FERC review, Invenergy has walked away with half of the authorizations necessary to charge negotiated rates for transmission service on its $7 billion, 5-GW Grain Belt Express transmission project.
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MISO is determined to file with FERC by the end of March to introduce a probabilistic capacity accreditation that’s controversial among its stakeholders.
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President Biden announced three FERC nominees, which would bring the agency back to a full complement of five members even after Commissioner Allison Clements leaves.
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State utility regulators reiterated their concerns about FERC’s efforts to promote transmission development at a meeting of the task force established for that purpose.
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Both FERC Chairman Willie Phillips and Sen. Joe Manchin want to pass policies this year that speed up the roll out of transmission, they said at the NARUC conference.
Idaho Power
FERC threatened to revoke Idaho Power’s market-based rate authority in its home territory, citing the utility’s failure of a key market power test.
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FERC accepted PJM’s request to delay the 2025/26 Base Residual Auction from June 12 to July 17 to give stakeholders time to understand new capacity auction rules.
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