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FERC Closes Investigation Of Alleged Capacity Market Manipulation Citing Insufficient Evidence

November 17,2017

In an annual report of enforcement activities, FERC Staff reported that, among the closed investigations in FY2017, was the investigation into bidding behavior in ISO New England's eighth annual Forward Capacity Auction (FCA 8), held in 2014 for the delivery year 2017-18

FCA 8 was marked by allegations of the exercise of market power, specifically related to the withdrawal of Brayton Point from the auction, but FERC was deadlocked (2-2) about whether to approve the rates or set them for hearing. Accordingly, the rates became effective by operation of law

"Enforcement conducted an investigation into certain bidding behavior in ISO-NE’s eighth annual Forward Capacity Auction (FCA 8), following a non-public referral from ISO-NE and its market monitor for potential tariff violations and market manipulation. Staff has concluded its investigation and determined that there was insufficient evidence of intent to manipulate and insufficient evidence to substantiate a tariff or rule violation," the report states

FERC   Capacity Market   ISO New England  

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