FERC threatened GreenHat Energy and its owners with $229 million in civil penalties over the company’s 890 million MWh default of its FTR portfolio in PJM.

PJM’s conference to discuss its $12.5 million settlement with two FTR firms produced neither protest nor complaint from any of the many stakeholders.

PJM will pay two trading firms $12.5 million to end a dispute over the 890 million MWh GreenHat Energy default under a settlement agreement filed with FERC.

NRG Energy reported net income of $24 million ($0.23/share) in the second quarter, compared with a $16 million loss (-$1.98/share) a year earlier.

FERC sufficiently justified its decision to revise how PJM allocates revenues from transmission congestion, the D.C. Circuit Court of Appeals ruled.

Environmental groups cheered the announcement by NRG Energy that it will retire three natural gas-fired plants in Southern California.

NRG Energy said that its board has authorized the company to spend $1 billion on its stock repurchase program.