FERC Targets Six Utilities’ Market Power
From Reuters
Six big U.S. utilities have the ability to influence wholesale electricity prices unfairly in their markets, based on rules spawned by California’s 2000-01 energy crisis, the Federal Energy Regulatory Commission said.
In a major ruling, FERC commissioners gave the utilities 60 days to propose ways to dilute their market power. If they fail, they could forfeit their right to sell electricity at market-based rates and face potential refunds.
The companies targeted by FERC are Alliant Energy Corp., American Electric Power Co., Duke Energy Corp., Entergy Corp., Southern Co. and Kansas City Power & Light Co., a unit of Great Plains Energy Inc.
