Commission Watch

Deck: 
FERC looks ahead to the new year as it wraps up loose ends from 2002.
Fortnightly Magazine - February 1 2003
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FERC: SMD/Grid Issues Lead 2003 Agenda

 

 

FERC looks ahead to the new year as it wraps up loose ends from 2002.

The Federal Energy Regulatory Commission's (FERC's) end-of-year meeting provided glimpses of top agenda items for 2003, such as seams issues between PJM and the Midwest ISO (MISO), and electric transmission construction. FERC Chairman Pat Wood said he "wants all 2002 issues fleshed out and put to bed" this year. Specifically, the chairman pointed to concerns about refunds, contracts, El Paso Electric, and market manipulation. Addressing those things is the only way to "build for the future and give capital markets some certainty," he said.

Wood added that the "aversion of capital markets to the industry must be turned around," and he acknowledged that resource adequacy requirements and financing the construction of new transmission facilities were the most complicated issues surrounding standard market design (SMD).

Meanwhile, Wood noted that "the lights are keeping on," but enough disagreement existed on the three-member commission that the addition of two new commissioners-expected soon-would make a big difference in building consensus. Many analysts predict that the 2003 Republican-controlled Congress will be appointing two new commissioners who will support Wood's policy vision for the industry.

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