Our summary of the issues scheduled for votes at the PJM MRC on 05/28/15. Each item is listed by agenda number, description and projected time of discussion, followed by a summary of the issue and links to prior coverage.

PJM Market Monitor Joe Bowring had a lively debate with one of the consultants for Powhatan Energy over the “duty” of market participants to self-police against market manipulation.

If FERC keeps its word, virtual traders in PJM should have clarity by the end of October on whether up-to-congestion transactions will be subject to additional charges.

A proposal to impose a temporary $0.07/MWh uplift charge on all netted virtual transactions received a cool response from PJM members Thursday — including a rebuff from the attorney for the Financial Marketers Coalition.

A Florida power trader under investigation for market manipulation over up-to-congestion trades says that an “unfair” investigation by FERC has ruined his business.

The RTO stakeholder process came under fire last week at a FERC technical conference on the treatment of financial transactions in PJM.

FERC issued an Order to Show Cause seeking $29.8 million in fines from the Powhatan Fund, in a case that became the centerpiece of a debate over FERC enforcement policy during Commissioner Norman Bay’s confirmation process earlier this year.

UTCs in PJM have dropped by about 85% since September, after the FERC said it might make the transactions liable for uplift assessments.

The Gates brothers, accused of gaming up-to-congestion trades in PJM, abruptly ended their public relations campaign against FERC last week.

Up-to-congestion (UTC) trading plummeted by about two thirds this week following a FERC order that could result in sharply increased costs for traders.