FERC Approves Uncontested Settlement Related to 2018 FTR Default

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The Federal Energy Regulatory Commission approved the uncontested settlement among PJM Interconnection and a diverse group of nearly 25 market participants to close out and liquidate the 2018 defaulted portfolio of an FTR Market trader.

Averting significant future risk of total default allocation and protracted litigation, the settlement “appears to be fair and reasonable and in the public interest, and is hereby approved,” the Dec. 30 FERC order stated. 

The settlement finalizes the resolution of the 2018 default by market trader GreenHat Energy LLC. It is a crucial step in a series of comprehensive risk management and market reforms undertaken by PJM and its stakeholder community to protect energy markets critical to the reliability of the bulk power system.