Credit Reforms in Organized Wholesale Electric Markets (US Federal Energy Regulatory Commission Regulation) (FERC) (2018 Edition) The Law Library presents the complete text of the Credit Reforms in Organized Wholesale Electric Markets (US Federal Energy Regulatory Commission Regulation) (FERC) (2018 Edition). Updated as of May 29, 2018 Pursuant to section 206 of the Federal Power Act, the Federal Energy Regulatory Commission amends its regulations to improve the management of risk and the subsequent use of credit in the organized wholesale electric markets. Each Regional Transmission Organization (RTO) and Independent System Operator (ISO) will be required to submit a compliance filing including tariff revisions to comply with the amended regulations or to demonstrate that its existing tariff already satisfies the regulations. This book contains: - The complete text of the Credit Reforms in Organized Wholesale Electric Markets (US Federal Energy Regulatory Commission Regulation) (FERC) (2018 Edition) - A table of contents with the page number of each section
Frequency Regulation Compensation in the Organized Wholesale Power Markets (US Federal Energy Regulatory Commission Regulation) (FERC) (2018 Edition) The Law Library presents the complete text of the Frequency Regulation Compensation in the Organized Wholesale Power Markets (US Federal Energy Regulatory Commission Regulation) (FERC) (2018 Edition). Updated as of May 29, 2018 Pursuant to section 206 of the Federal Power Act, the Commission is revising its regulations to remedy undue discrimination in the procurement of frequency regulation in the organized wholesale electric markets and ensure that providers of frequency regulation receive just and reasonable and not unduly discriminatory or preferential rates. Frequency regulation service is one of the tools regional transmission organizations (RTOs) and independent system operators (ISOs) use to balance supply and demand on the transmission system, maintaining reliable operations. In doing so, RTOs and ISOs deploy a variety of resources to meet frequency regulation needs; these resources differ in both their ramping ability, which is their ability to increase or decrease their provision of frequency regulation service, and the accuracy with which they can respond to the system operator's dispatch signal. This book contains: - The complete text of the Frequency Regulation Compensation in the Organized Wholesale Power Markets (US Federal Energy Regulatory Commission Regulation) (FERC) (2018 Edition) - A table of contents with the page number of each section
Refinements to Policies and Procedures for Market-Based Rates for Wholesale Sales of Electric Energy (US Federal Energy Regulatory Commission Regulation) (FERC) (2018 Edition) The Law Library presents the complete text of the Refinements to Policies and Procedures for Market-Based Rates for Wholesale Sales of Electric Energy (US Federal Energy Regulatory Commission Regulation) (FERC) (2018 Edition). Updated as of May 29, 2018 The Federal Energy Regulatory Commission (Commission) is amending its regulations that govern market-based rate authorizations for wholesale sales of electric energy, capacity, and ancillary services by public utilities pursuant to the Federal Power Act. This order represents another step in the Commission's efforts to modify, clarify and streamline certain aspects of its market-based rate program. The Commission is eliminating or refining certain existing filing requirements for market-based rate sellers as well as providing clarification regarding several issues. The specific components of this rule, in conjunction with other regulatory activities, are designed to ensure that the market-based rates charged by public utilities are just and reasonable. This book contains: - The complete text of the Refinements to Policies and Procedures for Market-Based Rates for Wholesale Sales of Electric Energy (US Federal Energy Regulatory Commission Regulation) (FERC) (2018 Edition) - A table of contents with the page number of each section
Market-Based Rates for Wholesale Sales of Electric Energy, Capacity and Ancillary Services by Public Utilities (US Federal Energy Regulatory Commission Regulation) (FERC) (2018 Edition) The Law Library presents the complete text of the Market-Based Rates for Wholesale Sales of Electric Energy, Capacity and Ancillary Services by Public Utilities (US Federal Energy Regulatory Commission Regulation) (FERC) (2018 Edition). Updated as of May 29, 2018 The Federal Energy Regulatory Commission (Commission) is amending its regulations to revise Subpart H to Part 35 of Title 18 of the Code of Federal Regulations governing market-based rates for public utilities pursuant to the Federal Power Act (FPA). The Commission is codifying and, in certain respects, revising its current standards for market-based rates for sales of electric energy, capacity, and ancillary services. The Commission is retaining several of the core elements of its current standards for granting market-based rates and revising them in certain respects. The Commission also adopts a number of reforms to streamline the administration of the market-based rate program. This book contains: - The complete text of the Market-Based Rates for Wholesale Sales of Electric Energy, Capacity and Ancillary Services by Public Utilities (US Federal Energy Regulatory Commission Regulation) (FERC) (2018 Edition) - A table of contents with the page number of each section
Orders on Rehearings and Clarifications - Market-Based Rates for Wholesale Sales of Electric Energy, Capacity and Ancillary Services (US Federal Energy Regulatory Commission Regulation) (FERC) (2018 Edition) The Law Library presents the complete text of the Orders on Rehearings and Clarifications - Market-Based Rates for Wholesale Sales of Electric Energy, Capacity and Ancillary Services (US Federal Energy Regulatory Commission Regulation) (FERC) (2018 Edition). Updated as of May 29, 2018 The Federal Energy Regulatory Commission is granting in part and denying in part the requests for rehearing and clarification of its determinations in Order No. 697-C, which granted rehearing and clarification of certain revisions to Commission regulations and to the standards for obtaining and retaining market-based rate authority for sales of energy, capacity and ancillary services to ensure that such sales are just and reasonable. This book contains: - The complete text of the Orders on Rehearings and Clarifications - Market-Based Rates for Wholesale Sales of Electric Energy, Capacity and Ancillary Services (US Federal Energy Regulatory Commission Regulation) (FERC) (2018 Edition) - A table of contents with the page number of each section
Demand Response Compensation in Organized Wholesale Energy Markets (US Federal Energy Regulatory Commission Regulation) (FERC) (2018 Edition) The Law Library presents the complete text of the Demand Response Compensation in Organized Wholesale Energy Markets (US Federal Energy Regulatory Commission Regulation) (FERC) (2018 Edition). Updated as of May 29, 2018 In this Final Rule, the Federal Energy Regulatory Commission (Commission) amends its regulations under the Federal Power Act to ensure that when a demand response resource participating in an organized wholesale energy market administered by a Regional Transmission Organization (RTO) or Independent System Operator (ISO) has the capability to balance supply and demand as an alternative to a generation resource and when dispatch of that demand response resource is cost-effective as determined by the net benefits test described in this rule, that demand response resource must be compensated for the service it provides to the energy market at the market price for energy, referred to as the locational marginal price (LMP). This approach for compensating demand response resources helps to ensure the competitiveness of organized wholesale energy markets and remove barriers to the participation of demand response resources, thus ensuring just and reasonable wholesale rates. This book contains: - The complete text of the Demand Response Compensation in Organized Wholesale Energy Markets (US Federal Energy Regulatory Commission Regulation) (FERC) (2018 Edition) - A table of contents with the page number of each section
Settlement Intervals and Shortage Pricing in Markets Operated by Regional Transmission Organizations and Independent System Operators (US Federal Energy Regulatory Commission Regulation) (FERC) (2018 Edition) The Law Library presents the complete text of the Settlement Intervals and Shortage Pricing in Markets Operated by Regional Transmission Organizations and Independent System Operators (US Federal Energy Regulatory Commission Regulation) (FERC) (2018 Edition). Updated as of May 29, 2018 The Federal Energy Regulatory Commission (Commission) is revising its regulations to address certain practices that fail to compensate resources at prices that reflect the value of the service resources provide to the system, thereby distorting price signals, and in certain instances, creating a disincentive for resources to respond to dispatch signals. We require that each regional transmission organization and independent system operator align settlement and dispatch intervals by: Settling energy transactions in its real-time markets at the same time interval it dispatches energy; settling operating reserves transactions in its real-time markets at the same time interval it prices operating reserves; and settling intertie transactions in the same time interval it schedules intertie transactions. We also require that each regional transmission organization and independent system operator trigger shortage pricing for any interval in which a shortage of energy or operating reserves is indicated during the pricing of resources for that interval. Adopting these reforms will align prices with resource dispatch instructions and operating needs, providing appropriate incentives for resource performance. This book contains: - The complete text of the Settlement Intervals and Shortage Pricing in Markets Operated by Regional Transmission Organizations and Independent System Operators (US Federal Energy Regulatory Commission Regulation) (FERC) (2018 Edition) - A table of contents with the page number of each section
"This report provides an introduction to the efficient organization of competitive electric power markets. The recent Federal Energy Regulatory Commission (FERC) rulemaking promoting wholesale competition, as well as state-level proposals to deregulate the price of electric generation and potentially provide retail access will fundamentally change electric power markets. These reforms are interesting because--assuming the development of efficiently structured markets--they could produce significant economic efficiently benefits"--ix.
Offer Caps in Markets Operated by Regional Transmission Organizations and Independent System Operators (US Federal Energy Regulatory Commission Regulation) (FERC) (2018 Edition) The Law Library presents the complete text of the Offer Caps in Markets Operated by Regional Transmission Organizations and Independent System Operators (US Federal Energy Regulatory Commission Regulation) (FERC) (2018 Edition). Updated as of May 29, 2018 The Federal Energy Regulatory Commission is revising its regulations to address incremental energy offer caps. We require that each regional transmission organization (RTO) and independent system operator (ISO): Cap each resource's incremental energy offer at the higher of $1,000/megawatt-hour (MWh) or that resource's verified cost-based incremental energy offer; and cap verified cost-based incremental energy offers at $2,000/MWh when calculating locational marginal prices (LMP). Further, we clarify that the verification process for cost-based incremental offers above $1,000/MWh should ensure that a resource's cost-based incremental energy offer reasonably reflects that resource's actual or expected costs. This Final Rule will improve price formation by reducing the likelihood that offer caps will suppress LMPs below the marginal cost of production, while compensating resources for the costs they incur to serve load, by enabling RTOs/ISOs to dispatch the most efficient set of resources when short-run marginal costs exceed $1,000/MWh, by encouraging resources to offer supply to the market when it is most needed, and by reducing the potential for seams issues. This book contains: - The complete text of the Offer Caps in Markets Operated by Regional Transmission Organizations and Independent System Operators (US Federal Energy Regulatory Commission Regulation) (FERC) (2018 Edition) - A table of contents with the page number of each section
The electricity industry is currently undergoing a restructuring, evolving from an industry characterized by monopoly utilities that provide consumers with electricity at regulated rates to a competitive industry in which prices are largely determined by supply and demand. The Federal Energy Regulatory Commission (FERC) has been engaged in this restructuring effort and is currently working, among other things, to foster competitive wholesale energy markets across the nation while protecting consumers against abuses of market power. At the retail level, about half the states have pursued restructuring their retail electricity markets in order to allow consumers such as residential, commercial, and industrial customers to choose their electricity suppliers. Proponents of electricity restructuring believe that it will ultimately provide consumers with lower electricity prices, more services, and technological innovation. However, opponents cite extremely high prices and market manipulation in California as evidence that, without more stringent oversight, restructuring may leave consumers vulnerable to higher prices, market manipulation, and less reliable service. In light of ongoing electricity restructuring efforts, Congress asked us to describe FERC's role in protecting electricity consumers. FERC's role in protecting electricity consumers is to ensure that prices in the wholesale electricity market are just and reasonable. Traditionally, FERC has ensured rates are just and reasonable in the wholesale market by regulating them based on a utility's costs of service plus a regulated return on the utility's investment. However, with the advent of greater competition in the electricity industry, FERC believes the best ways to ensure wholesale prices are just and reasonable today is by (1) fostering competitive regional wholesale markets that have balanced market rules (i.e., rules that encourage efficient behavior and infrastructure development and deter abusive behavior), (2) continuously monitoring these markets for anticompetitive behavior, and (3) enforcing or correcting market rules as needed. As part of these efforts, FERC oversees the interstate transmission system to ensure it remains open without discrimination to all buyers and sellers of electricity. This oversight also works to protect consumers by ensuring companies that generate electricity will be able to transmit their power without disruptions or inefficiencies. FERC has limits on where and how it can protect consumers. For example, FERC does not oversee wholesale electricity sales and transmission in areas where it generally lacks jurisdiction, such as the areas served by federally owned utilities including the Tennessee Valley Authority and the Department of Energy's four federal Power Marketing Administrations, publicly owned (municipal) utilities, and most cooperative utilities. In addition, states, rather than FERC, have authority over the retail electricity rates paid by customers, the local distribution of electricity, and the construction and siting of power plants and transmission lines within their boundaries.
