The case backlog of unprocessed electric reliability violations is growing out of control, threatening to “swamp” the industry — a sign, perhaps, that when Congress and FERC modernized the...
through an automated computer protocol that examined anomalies in bidding behavior and potential price-setting impact of outlier bids. Court says FERC did not justify approval after it had found that NY plan in some cases would mitigate price spikes caused not by market power or collusion, but by legitimate market fundamentals, such as scarcity or weather-driven load. Edison Mission Energy v. FERC, No. 03-1229 (D.C.Cir.), Jan. 14, 2005.
Return on Equity California OK's new rates of return on common equity for test year 2005 for SoCal Edison (11.4%), and PG&E (11.22%). It asked utilities in their ROE evidence to account for the potential impact on capital structure of long-term purchased power contracts (3 years or more) viewed by credit analysts as the equivalent of debt. Cal. PUC, Decision 04-12-047, Dec. 16, 2004.- B.W.R.
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