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ARTICLE · 21 APRIL 2016

FERC Conditionally Accepts ISO-NE's Tariff Revisions Regarding Retirement Pricing

Troutman Pepper Locke LLP
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On April 12, 2016, FERC conditionally accepted ISO New England Inc.'s proposed revisions to its Transmission, Markets, and Services Tariff relating to new pricing and market power rules for the retirement of existing resources.

United StatesEnergy and Natural Resources
Troutman Pepper Locke LLP
Troutman Pepper Locke LLP
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On April 12, 2016, FERC conditionally accepted ISO New England Inc.'s ("ISO-NE") proposed revisions to its Transmission, Markets, and Services Tariff ("Tariff") relating to new pricing and market power rules for the retirement of existing resources. Specifically, the conditionally-accepted revisions are intended to (i) create a means for capacity suppliers in ISO-NE's Forward Capacity Market ("FCM") to price the potential retirement of existing resources, and (ii) incorporate new market rules designed to mitigate the potential exercise of market power associated with the retirement of existing resources.

In ISO-NE's FCM, suppliers may submit "de-list" bids which identify the price below which a supplier does not wish to provide capacity from an existing resource, and will automatically remove that resource from participating in the annual Forward Capacity Auction ("FCA") if the supplier does not receive a price above the specified point. In doing so, suppliers may

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