The CAISO Board of Governors bid farewell to its retired CEO, greeted a new leader and approved a plan to implement FERC Order 831.

CAISO won FERC approval for its second effort to allow generators to recover the costs of higher natural gas prices.

CAISO’s Market Surveillance Committee said the ISO needs to consider implementing scarcity pricing as a way to obtain energy during heat waves and supply shortages.

NYISO locational-based marginal prices averaged $50.93/MWh in January, up by about 25% from December and down around 50% from the same month a year ago.

NYISO is considering penalizing external resources that fail to perform when dispatched following a supplemental resource evaluation.

FERC granted MISO a two-year lead time to implement a new offer cap, while also directing the RTO to submit another compliance filing to meet Order 831.

FERC approved MISO’s plan to permanently double its hard offer cap but told the RTO to clarify some details about the proposal in a compliance filing.

FERC allowed NYISO to temporarily waive energy offer caps in response to recent natural gas price spikes stemming from this winter’s extreme cold snap.

FERC has allowed MISO to waive its $1,000/MWh offer cap for the fourth straight winter in response to the extremely cold weather.

MISO will seek a series of waivers in order to implement wintertime energy offer caps after FERC rejected the grid operator’s proposed cap design.