News Release: October 20, 2011
Docket No. RM11-17-000
Item No. E-1
FERC proposes to enhance electric market surveillance and analysis
The Federal Energy Regulatory Commission (FERC) today proposed to help ensure just and reasonable rates for consumers by requiring regional organized markets to submit, on a continuing electronic basis, data related to the markets they administer.
The proposal, outlined in a Notice of Proposed Rulemaking, states that continuous electronic delivery of this data will enhance FERCís efforts to detect anti-competitive or manipulative behavior, or ineffective market rules.
The FERC proposal would not require regional organized markets to collect any additional data from market participants. Regional organized markets would only be required to provide data to FERC that is already collected. This data would include physical and virtual offers and bids, market awards, resource outputs, marginal cost estimates, shift factors, financial transmission rights, internal bilateral contracts and interchange pricing. The proposal would not require regional organized markets to provide data to FERC in real time.
FERC currently can request data from regional organized markets. But such recurrent, periodic data requests may require more Commission and regional organized market resources than the proposed electronic delivery on an automated basis using a common transfer method and format, FERC said.
Comments on the proposal are due 60 days after publication in the Federal Register. In particular, the Commission is seeking comments on efficient and secure ways for delivering the data and the time and resources needed by regional organized markets to implement procedures to deliver the data. FERC also is asking whether a phased implementation approach is needed, and if so, what that approach should entail.