FERC approved price formation reforms for SPP and set questions around resource accreditation for additional proceedings in a pair of orders issued at its regular monthly meeting.

FERC rejected SPP's tariff revisions that would modify the adder for uncertainty of expected costs for offers above $1,000/MWh.

CAISO’s Board of Governors and WEIM Governing Body unanimously voted to approve an expedited proposal to increase the ISO’s soft offer cap from $1,000/MWh to $2,000.

CAISO revamped its policy initiatives roadmap to reflect its to top strategic goals including ensuring resource adequacy and expanding its Western market role.

The PJM Market Implementation Committee narrowly rejected a proposed issue charge from curtailment service provider CPower Energy Management.

FERC clarified that its order on remand partially reversing PJM’s proposed energy price formation revisions did not remove the RTO’s reserve price caps.

FERC approved PJM’s proposed energy price formation revisions, agreeing with the RTO that its reserve market was not functioning as intended.

PJM told the MIC it will not file waivers for upcoming capacity auction deadlines and will rely on FERC to issue an order on its MOPR.

PJM’s Market Monitor said the RTO’s updated simulation results for energy price formation underestimate the impact of its operating reserve demand curve.

PJM filed its energy price formation proposal with FERC after a yearlong discussion with stakeholders produced no consensus.