Power prices briefly spiked above $1,000/MWh on Long Island Wednesday due to a combination of cold weather and an unplanned transmission outage.

PJM and MISO have reached agreement on a new product for interchange transactions similar to the CTS product PJM launched with NYISO.

FERC ordered NYISO to begin a stakeholder proceeding to resolve a dispute over the installed capacity market on Long Island, which was excluded from a previous attempt to address transmission congestion in the areas around New York City.

NYISO: The EPA's proposed Clean Power Plan threatens reliability in New York City due to the city’s frequent dependence on local oil-fueled generators.

RTOs joined a chorus of critics last week in warning that the EPA's proposed Clean Power Plan threatens grid reliability, saying the agency should provide more time for compliance.

Con Ed of New York filed a complaint with FERC stating its opposition to a cost allocation formula that PJM has devised for two transmission upgrades.

The New York PSC and FERC will study the state’s troubled capacity market at a technical conference in Manhattan Wednesday.

If you want to see the value of dual-fuel capability, look no further than NYISO, where 47% of the generation can run on oil or natural gas.

PJM electric consumers are spending $433 million a year in excess capacity because the RTO’s load forecasts fail to fully capture energy efficiency, according to a report by The Brattle Group.

FERC and New York regulators will hold a joint technical conference Nov. 5 to discuss the state’s capacity market and its plan to revamp the utility business model.