The Central Counterparty Model In PJM RTO Structure

Law360, New York (September 21, 2010, 3:25 PM EDT) -- On Sept. 3 the Federal Energy Regulatory Commission conditionally approved a proposal by PJM Interconnection to revise the PJM regional transmission organization legal structure through the establishment of a new "central counterparty" entity, the "PJM Settlement." The order is notable for two reasons.

First, the new central counterparty model will change the legal structure of PJM and thus how transactions in PJM are structured.

Second, the timing of the Sept. 3 order is notable because it coincides with FERC's consideration of a mandatory central counterparty structure...
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