The MISO IMM says the RTO isn’t going far enough in proposing changes to comply with FERC’s offer cap rules, like increasing the max value of lost load.

MISO is considering how to alter its market rules to comply with a FERC order that “softens” the current energy offer cap.

PJM walked the Market Implementation Committee through planned Operating Agreement and Tariff revisions to satisfy elements of FERC Order 825.

FERC has granted MISO a waiver of its $1,000/MWh offer cap for winter, providing the RTO relief before the commission’s RTO/ISO-wide cap takes effect.

With winter looming, FERC last week adopted a rule that would double the “hard” RTO offer caps for day-ahead and real-time markets to $2,000/MWh.

A summary of FERC orders related to PJM issued at the commission's open meeting on June 16, 2016.

FERC ordered PJM  to change its method of calculating capacity market offer caps, saying it was inconsistent with its practice in the energy market.

FERC granted PJM’s request to increase the cost-based energy offer cap to $1,800/MWh through March.

PJM’s request to raise the cost-based energy offer cap to $1,800/MWh through March drew a flurry of comments and protests in the days before Christmas.

PJM will seek FERC approval for a controversial proposal to raise the cost-based energy offer cap to $1,800/MWh through March 2015.