Calif. Shoots Down Centralized Power Auction Plans

Law360, New York (June 4, 2010, 5:11 PM EDT) -- California regulators have denied several energy companies' bids to develop a centralized auction that would allow utilities and power generators to trade electricity capacity, holding that the state’s system for making sure there are enough power resources is sufficient.

The California Public Utilities Commission voted 5-0 on Thursday to reject proposals by grid companies PJM Interconnection, ISO New England and the New York Independent System Operator for the state to create a centralized electricity capacity market and carry out auctions like systems in place on the...
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