PJM released a proposal for revising price formation rules in its energy markets, which staff estimate could increase market costs by as much as $1.4 B.

PJM’s markets were competitive in the first nine months of the year, the Independent Market Monitor found in its quarterly State of the Market Report.

FERC found that MISO did not adequately comply with its directives in Order 831, which stipulated changes to the RTO's hard and soft offer cap processes.

FERC approved SPP’s operating reserves proposal but said the RTO should respond to criticism about scarcity pricing avoidance.

The PJM Independent Market Monitor and other critics say the alternative the RTO proposed to the DOE NOPR would also be expensive and undermine the markets.

PJM’s plan for addressing uplift remains on schedule, and the final two phases of its three-phase solution will be filed by the end of this week.

FERC accepted SPP’s proposed Tariff revisions related to shortage pricing.

Members strongly endorsed the third phase of PJM’s plan to address uplift, despite opposition from financial stakeholders.

NYISO presented its Market Operations and Broader Regional Markets reports to the Business Issues Committee.

The PJM MRC was largely unconvinced when financial traders wanted to defer a vote on a set of rule changes on virtual transactions.