New York ISO Seeks Fines for Non-Competitive Conduct
The New York Independent System Operator (NYISO) has asked the FERC to approve a plan to impose large fines for those utilities and generators participating in “noncompetitive conduct.” The NYISO wants immediate approval, because filing falls under the “exigent circumstances” provision of the Federal Power Act, which allows the filing notice period to be waived. NYISO's plan would impose escalating penalties for price gouging beginning with the second offense. The first fine would be equivalent to the number of megawatts involved times the locational marginal price of the offense.
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