Fortnightly Magazine - November 2004

Power Measurements

What did LMPs tell us this summer in PJM's new neighborhood?

Power Measurement

What did LMPs tell us this summer in PJM's new neighborhood?

With one summer under its belt as a member of PJM, ComEd has been called a complete success by some, boring by others. On the whole, prices in the region were quite flat, and spreads between the 1,281 price nodes in the region were small to non-existent. In fact, the best opportunity for a generator to make money in this market was to export power to a neighboring market.

Perspective

How the filed-rate policy wreaks havoc- and what courts can do about it.

Perspective

How the filed-rate policy wreaks havoc- and what courts can do about it.

Like many venerable legal rules, the filed-rate doctrine is rarely questioned. Over the last century, it has served many important purposes. However, with deregulated wholesale electric power markets at the federal level and various degrees of deregulation across the states, both the doctrine's continued applicability and usefulness are suspect.

Commission Watch

FERC Versus Bankruptcy Jurisdiction:

Commission Watch

FERC Versus Bankruptcy Jurisdiction:

Two recent articles in the 1 discussed conflicts that have emerged in the last 18 months over the respective jurisdictions of bankruptcy courts under the Bankruptcy Code2 and the Federal Energy Regulatory Commission (FERC) under the Federal Power Act.3 This occurs when a debtor seeks the bankruptcy court's approval under Section 365(a) of the code4 to reject a wholesale electricity sales contract that is a FERC-jurisdictional rate.

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