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ARTICLE · 05 DECEMBER 2019

FERC Opens A New Phase In Fights Over Utility Returns On Equity

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The Decision: The Federal Energy Regulatory Commission's ("FERC") Opinion No. 569 establishes new methodologies under Federal Power Act ("FPA") Section 206 for (i) determining whether existing...

United StatesEnergy and Natural Resources
Jones Day
Jones Day
Kenneth Driver
Kenneth Driver
David Martin Connelly
David Martin Connelly
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In Short

The Decision: The Federal Energy Regulatory Commission's ("FERC") Opinion No. 569 establishes new methodologies under Federal Power Act ("FPA") Section 206 for (i) determining whether existing electric utility transmission ROEs are unjust and unreasonable; and (ii) calculating a new just and reasonable ROE.

The Impact: In the short term, Opinion No. 569 resolves two complaints against Midcontinent Independent System Operator ("MISO") transmission owners, and will impact other high-profile cases, such as that against ISO-NE transmission owners.

Looking Ahead: In the long term, Opinion No. 569 may reduce uncertainty over electric utility transmission ROEs, but it is not yet clear whether it will represent FERC's final word in a nearly decade-long fight.

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