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On October 21, 2010, the Federal Energy Regulatory Commission (“FERC” or the “Commission”) conditionally approved the North American Electric Reliability Corporation’s (“NERC”) 2011 business plan and budget (“2011 Budget”), as well as the 2011 business plan and budget for the Regional Entities and Western Interconnection Regional Advisory Board (“WIRAB”). 

On October 21, 2010, the Federal Energy Regulatory Commission (“FERC” or the “Commission”) released Order No. 741, Credit Reforms in Organized Wholesale Electric Markets.   The new rule finalizes credit reforms to allow for more liquidity while protecting consumer interests.

On Monday, October 18, 2010, Northeast Utilities (“NU”) and NSTAR announced their companies’ Boards of Trustees unanimously approved a merger agreement for a large utility valued at $17.5 billion.  This newly-formed utility will be known as Northeast Utilities. 

On October 21, 2010, the Federal Energy Regulatory Commission (“FERC” or the “Commission”) clarified how California may promote new generation resources in a way that does not contradict federal laws (the “October 21 Clarification”).  The Commission also denied the California Public Utilities Commission’s (“CPUC”) request for rehearing.

On October 12, 2010, Google, Trans-Elect Development Company, LLC (“Trans-Elect”), Good Energies, and Marubeni Corporation (“Marubeni”) announced that the four entities are partnering to create the Atlantic Wind Connection project.  The Atlantic Wind Connection project will create an underwater transmission “backbone” to connect more than 6,000 MW of offshore wind through more than 350 miles of high voltage direct current (“HVDC”) lines. 

On October 13, 2010, the North American Electric Reliability Corporation (“NERC”) issued an industry AURORA alert making recommendations to entities and requiring entities to report on progress made by December 13, 2010.  The entities will then have to make updates to NERC every six months until the mitigation is completed to address any vulnerabilities.  The new alert divided recommended mitigation elements into two categories: 1) Protection and Control Engineering, and 2) Electronic and Physical Security Mitigation Measures.

On October 9, 2010, Constellation Energy Group (“Constellation”) issued a press release regarding the status of their loan guarantee application in connection with their UniStar Nuclear Energy Calvert Cliffs 3 project.  Constellation stated they wrote to the Department of Energy (“DOE”) and informed DOE that Constellation would not move forward due to “unworkable” proposed terms and conditions of the loan guarantee.