Out of market means out of luck—even for self-supply.
When the U.S. Federal Energy Regulatory Commission issued its so-called ”MOPR“ decision in April 2011, approving a minimum offer price rule (or bid floor) for PJM RPM capacity market — and then on the very next day did much the same for New England’s FCM capacity market — FERC did more than just prop up prices. Instead, it created a nightmare scenario for utilities that still own their own generation. These utilities, who choose to “self-supply” with their own plants, rather than buy capacity from either the RPM or FCM, adequacy rules, could now be forced to pay twice for capacity — if their own plants are deemed inefficient or uneconomic.
State regulators face mandates without consensus.
Lynne Holt and Mary K. Galligan
New federal and state policy mandates are pulling state regulators in many directions. The patchwork of regulations has created a new level of complexity for utility investment decisions and political risk for utilities and state regulators alike.
(March 2009) Hawaiian Electric Industries named James A. Ajello senior financial v.p., treasurer and CFO. Black Hills Corp. selected Robert A. Myers as senior v.p. of human resources. Constellation Energy appointed Carim V. Khouzami as executive director, investor relations. And others...
(December 2008) Arizona Public Service named Daniel Froetscher vice president of energy delivery. Southwest Gas Corp. hired Don Soderberg as vice president of external affairs.Chesapeake Utilities Corp. named Michael P. McMasters as executive vice president and COO. American Gas Association elected Thomas E. Skains chairman. And others...
When Spanish utility giant Iberdrola announced last June that it would acquire Maine-based Energy East for $4.5 billion, it signaled a potential surge in major foreign owners buying into U.S. utility companies. Fortnightly spoke with Pedro Azagra, director of corporate development for Iberdrola S.A. in Bilbao, Spain, to get an update on the acquisition, and his impression of U.S. merger-approval processes.
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Allegheny Energy named Max Kuniansky director of investor relations. He previously held the position of vice president of investor relations for B/E Aerospace and investor relations specialist for FPG Group Inc.
FERC Docket No. EL01-38-000, filed Feb. 14, 2001
Dynegy's David Francis, vice president for western power trading, testified on Dec. 21 on why he thought the ISO was bending the rules:
Citizens' Utility Ratepayer Bd. v. Kansas Corp. Comm'n, Nos. 85,750 et al., Dec. 15, 2000 (Kan.App.)
FERC Docket No. RT01-15-000, filed Oct. 16, 2000
FERC Docket ER00-3583, protest filed Sept. 22, 2000, letter order issued Oct. 5, 2000