At its October 15 meeting, the PJM Board directed PJM staff to file with the Federal Energy Regulatory Commission, under Section 206 of the Federal Power Act, the package of Financial Transmission Rights rule changes on which members last voted at the August 27, 2015, Members Committee meeting.
In making this decision, the board took into account the near two-thirds consensus achieved through the stakeholder process. It also considered the need to address the equity issues associated with the current rules by which:
- the transmission system is planned to ensure future feasibility of Stage 1A Auction Revenue Rights, and
- revenue inadequacy is allocated among holders of both positively and negatively valued FTRs.
PJM staff expects to make this filing shortly and will request that the FERC take action on the filing by the end of the year in order to provide adequate notice prior to the upcoming 2016 annual ARR allocation and FTR auction process.