FERC found that MISO did not adequately comply with its directives in Order 831, which stipulated changes to the RTO's hard and soft offer cap processes.

Consumer representatives and the Independent Market Monitor expressed concern at the MRC over PJM’s plans for vetting energy offers exceeding $1,000/MWh.

FERC has granted MISO a waiver of its $1,000/MWh offer cap for winter, providing the RTO relief before the commission’s RTO/ISO-wide cap takes effect.

With winter looming, FERC last week adopted a rule that would double the “hard” RTO offer caps for day-ahead and real-time markets to $2,000/MWh.