FERC Launches Probe Into Western Power Markets

Law360, New York (May 21, 2010, 3:23 PM EDT) -- The Federal Energy Regulatory Commission has launched an investigation into the spot energy price cap markets in California and the overall Western power market to ensure that distortions do not develop between the markets.

The agency announced the inquiry Thursday, saying it intended to remove any potential market distortions created by the difference between the current and future bid caps in the California Independent System Operator energy markets and the spot market price cap for the rest of the Western power grid.

The California ISO operates...
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