FERC has ordered MISO to change the way it conducts capacity auctions beginning with the 2016/17 auction in April.

FERC has begun a non-public investigation over allegations of improprieties in MISO's April capacity auction and will hold a technical conference on the matter Oct. 20.

Dynegy told FERC it should reject complaints over its bidding in MISO’s capacity auction last April, saying the challenges suffer from a “fatal” procedural flaw.

Illinois Attorney General Lisa Madigan joined industrial consumers in calling for changes to MISO's capacity auction rules.

MISO and its Market Monitor have joined Dynegy in denying allegations of improper conduct in the RTO’s Planning Resource Auction last April, which resulted in a nine-fold price increase in Zone 4.

MISO Market Monitor David Patton called for tighter rules on wayward generators, more precise real-time pricing and a fix for Financial Transmission Rights funding shortfalls.

Dynegy CEO Robert Flexon defended his company’s bidding strategy in MISO’s April capacity auction and said the controversy over the results signals the need for a regulatory change in Illinois.

A consumer group has asked the FERC to launch an emergency investigation as to whether Dynegy illegally manipulated MISO’s Planning Resource Auction last April, resulting in a nine-fold price increase in Zone 4.

MISO told Illinois officials that the nine-fold price increase the state experienced in this month’s capacity auction was the result of market dynamics.

MISO completed its third annual Planning Resource Auction Tuesday, with prices falling in most zones, while the Illinois zone saw a large jump.