On January 21, 2010, the Federal Energy Regulatory Commission (“FERC” or the “Commission”) released a Notice of Proposed Rulemaking (“NOPR”) to allow for credit reforms in the organized wholesale electric markets.  Previously, most wholesale electric markets developed credit practices on a case-by-case basis, depending on individual needs.  Due to the current financial situation, some groups have become concerned that these varying credit practices would not be sufficient to protect the markets, and subsequently the consumers, from the high costs associated with credit risks and credit defaults.

On January 21, 2010, FERC issued a Notice of Inquiry (“NOI”) to look at whether or not to expand its Electric Quarterly Report (“EQR”) filing requirements to those entities excluded from FERC jurisdiction under section 205 of the Federal Power Act (“FPA”).  The NOI will aid FERC in deciding if changes should be made to section 220 of the FPA, as adopted in the Energy Policy Act of 2005(“EPAct 2005”).

On January 6, 2010, the FERC approved a request from American Electric Power Services Corporation (“AEP Services”), the wholly owned subsidiary of American Electric Power Company, Inc. (“AEP”), to transfer transmission assets to Electric Transmission Texas, LLC (“Electric Transmission Texas”) under section 203 of the Federal Power Act (“FPA”). 

On December 31, 2009, FERC conditionally approved a proposal by the Midwest Independent Transmission System Operator, Inc. (“MISO”) to revise its Generator Interconnection Procedures.