CROSS THE COUNTRY, CRITICISM RISES FROM INVESTOR-owned utilities as public power agencies are drawn into regional or national markets through power pools and the geographic expansion of power...
an entity would not automatically receive the market-clearing price. Instead it would receive the highest price received by that entity in a sale under an arms-length bilateral trade of 5 MW or larger with another WSCC entity in that hour, or the PX price, whichever is lower. ... No rational market would pay a price for dump hydro from an external source higher than the highest marginal producer internal to the market."
(em Trustee's Transmittal Letter,
FERC Docket Nos. EC96-19-001, ER96-1663-001,
filed March 31, 1997.
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