On February 19, 2010, the American Public Power Association, Electric Consumers Resource Council, National Consumer Law Center, PJM Industrial Customer Coalition, Portland Cement Association, and Public Citizen sent a letter to FERC asking that generator profits be included in performance metrics for Regional Transmission Organizations (“RTO”) and Independent System Operators (“ISO”). 

In a rare move, the United States Department of Justice (“DOJ”) has taken antitrust enforcement action against a participant in a regional market overseen by the Federal Energy Regulatory Commission (“FERC” or the “Commission”). Specifically, DOJ investigated and filed a Sherman Act Section 1 complaint against KeySpan Corporation (“KeySpan”) with respect to a “swap” transaction pertaining to the New York Installed Capacity market operated by the New York Independent System Operator, Inc. This action may signal DOJ’s willingness to supplement FERC’s oversight over regional energy markets.

On February 12, 2010, FERC accepted ISO New England Inc.’s (“ISO-NE”) proposed Installed Capacity Requirement, as well as related values to be used in ISO-NE’s Forward Capacity Market (“FCM”).  As requested, the proposal became effective February 15, 2010, subject to certain conditions. 

In a rare move, the United States Department of Justice (DOJ) has taken antitrust enforcement action against a participant in a regional market overseen by the Federal Energy Regulatory Commission (FERC). Specifically, DOJ investigated and filed a Sherman Act Section 1 complaint against Keyspan Corporation with respect to a “swap” transaction pertaining to the New York Installed Capacity market operated by the New York Independent System Operator, Inc. This action may signal DOJ’s willingness to supplement FERC’s oversight over regional energy markets.

On November 20, 2009, the California Independent System Operator Corporation (“CAISO”) filed its Convergence Bidding Design Policy (“Conceptual Filing”) to the Federal Energy Regulatory Commission (“FERC” or the “Commission”).  Convergence bidding allows for the submission of bids to buy or sell electricity in the day–ahead market that will not be consumed or produced by the bidder in real time.  Instead, these “virtual” transactions enable market participants to either buy or sell electricity in the day-ahead market and then undertake the opposing obligation to sell or buy the same amount of electricity in real time.

On January 29, 2010, the Federal Energy Regulatory Commission (“FERC” or the “Commission”) conditionally approved the Southwest Power Pool Inc.’s (“SPP”) proposed interim interconnection service as well as its accompanying pro forma Interim Large Generator Interconnection Agreement (“Interim LGIA”). 

On February 1, 2010, FERC requested $315.6 million for their fiscal-year 2011 budget from Congress, which represents a 5.9 percent increase from its 2010 budget.

On February 3, 2010, FERC issued a Notice Requesting Comments (“Notice”) on their proposed performance metrics for Regional Transmission Organizations (“RTOs”) and Independent System Operators (“ISOs”) to use when they submit annual reports to FERC.