When FERC decided in February, in Order 890, to lift the price cap for electric-transmission customers seeking to resell their grid capacity rights in the secondary market, it cautioned against...
on whether the shortage exists only in the eastern part of the ISO's control area, or statewide.
Thus, some say that the New York scheme should do a better job of distinguishing between honest economic scarcity rents in areas of true supply deficit, versus high prices in other areas that might well stem from withholding, gaming, or market manipulation.
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