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FERC Issues Deficiency Letter in Updated CONE, Net Cone and PPR Values Proceeding

The FERC issued a deficiency letter requiring ISO-NE to submit within 30 days additional information, including the following: (i) an example of a potential site for the reference unit (in or near New London County, CT) that is two miles from both a main natural gas transmission line and the point of interconnection to the electric grid; (ii) an estimate of NOx emissions limit and whether those limits affect the reference unit’s revenues; and (iii) additional support for the assumption that the reference unit always runs on natural gas rather than oil in the dispatch model.  The submission of the additional information will re-set the 60-day deadline for FERC action on this matter, meaning there will not be an order on the proposed vales before the end of the FCA16 retirement and permanent de-list bid window.

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