The Federal Energy Regulatory Commission (FERC) recently began investigations into the pricing of fast-start resources by the New York Independent System Operator (NYISO), PJM Interconnection (PJM), and Southwest Power Pool (SPP).
FERC found recently the power markets’ “current practices may be unjust and unreasonable because those practices do not allow prices to accurately reflect the marginal cost of serving load.” The investigations under Federal Power Act section 206 will examine whether tariff revisions are required for the three power markets.
In December 2016, FERC issued a Notice of Proposed Rulemaking (NOPR) to require regional competitive electric power markets to adopt market rules meeting certain requirements for pricing fast-start resources.
Many comments filed in response to the NOPR called for regional flexibility, saying the proposed reforms might not bring sufficient value in all regions. Based on the comments, FERC decided not to require uniform fast-start pricing requirements across all regional power markets. FERC’s recent action terminates the rulemaking.
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