FERC issued an Order to Show Cause seeking $29.8 million in fines from the Powhatan Fund, in a case that became the centerpiece of a debate over FERC enforcement policy during Commissioner Norman Bay’s confirmation process earlier this year.

UTCs in PJM have dropped by about 85% since September, after the FERC said it might make the transactions liable for uplift assessments.

PJM will forego $10.2 million in BOR charges resulting from DC Energy and Scylla transactions characterized as IBTs under a settlement approved by FERC.

Up-to-congestion (UTC) trading plummeted by about two thirds this week following a FERC order that could result in sharply increased costs for traders.

FERC ordered a review of PJM’s rules regarding up-to-congestion transactions (UTCs), saying the RTO may be discriminating in how it treats these trades.

Members agreed last week to consider changing credit requirements for virtual transactions in January and February 2015 despite opposition from PJM.

At FERC's uplift hearing, PJM was a target for criticism from market participants smarting over the $600 million uplift bill from January’s polar vortex.

The PJM MIC approved several changes recommended by subcommittees regarding data submission deadlines and credit requirements.

The Powhatan Energy Fund, the subject of a FERC investigation for more than three years without being charged, has decided to go on offense by releasing documents it says proves it has been unfairly hounded.

A guide to the players in the Powhatan Energy Fund market manipulation investigation.