FERC Issues Washington, D.C. 20426 Letter Order Accepting J.P. Morgan Ventures Energy Corporation's 12/31/12 Filing Of An Updated Market Power...
(Targeted News Service Via Acquire Media NewsEdge) FERC Issues Washington, D.C. 20426 Letter Order Accepting J.P. Morgan Ventures Energy Corporation's 12/31/12 Filing Of An Updated Market Power Analysis In Compliance With Order No. 697 Under ER10-2331 Et Al.
WASHINGTON, Oct. 8 -- The U.S. Department of Energy's Federal Energy Regulatory Commission issued the text of the following delegated order:
In Reply Refer To:
J.P. Morgan Ventures Energy Corporation Docket Nos. ER10-2331-013
J.P. Morgan Commodities Canada Corp ER10-2343-013
BE Alabama LLC ER10-2319-012
BE Allegheny LLC ER10-2320-012
BE CA LLC ER10-2317-011
BE Ironwood LLC ER10-2322-013
BE KJ LLC ER10-2324-012
BE Louisiana LLC ER10-2325-011
BE Rayle LLC ER10-2332-012
Cedar Brakes I, L.L.C. ER10-2326-013
Cedar Brakes II, L.L.C. ER10-2327-014
Central Power & Lime LLC ER10-2328-012
Triton Power Michigan` ER11-4609-011
Utility Contract Funding, L.L.C. ER10-2330-013
(collectively, the JP Morgan Sellers)
October 8, 2013
Mr. Paul Tramonte
Executive Director -
1111 Fannin, Floor 11
Houston, Texas 77002
Reference: Updated Market Power Analysis in Compliance with Order No. 697
Dear Mr. Tramonte:
On December 31, 2012, you filed on behalf of the J.P. Morgan Sellers an updated market power analysis for the Southwest Power Pool region in compliance with the regional reporting schedule adopted in Order No. 697 and pursuant to the Commission's orders granting the J.P. Morgan Sellers authority to sell electric energy and capacity at market-based rates.
Your filing was noticed on January 2, 2013, with comments, protests or interventions due on or before March 1, 2013. None was filed.
Pursuant to the authority delegated to the Director, Division of Electric Power Regulation - West, under 18 C.F.R. section 375.307, your submittal filed in the referenced dockets is accepted for filing.
You state that the J.P. Morgan Sellers own or control 533 megawatts (MW) of generation located in the Oklahoma Gas and Electric Company balancing authority area. You add that the J.P. Morgan Sellers are each wholly-owned subsidiaries of JPMorgan Chase & Co. You represent that neither the J.P. Morgan Sellers nor their affiliates own or control any transmission facilities other than limited interconnection facilities to the electric grid. Further, you affirmatively state that the J.P. Morgan Sellers have not erected barriers to entry and will not erect barriers to entry into the relevant market.
Market-Based Rate Authorization
The Commission allows power sales at market-based rates if the seller and its affiliates do not have, or have adequately mitigated, horizontal and vertical market power.
You state that the J.P. Morgan Sellers rely on Westar Energy Inc.'s recently accepted market power analysis to demonstrate that the J.P. Morgan Sellers pass both the pivotal supplier and the wholesale market share screens for the Oklahoma Gas and Electric Company balancing authority area. Accordingly, the J.P. Morgan Sellers submittal satisfies the Commission's requirements for the market-based rate authority regarding horizontal market power.
Based on your representations, the J.P. Morgan Sellers submittal also satisfies the Commission's requirements for market-based rate authority regarding vertical market power.
The J.P. Morgan Sellers must file electronically with the Commission Electric Quarterly Reports. The J.P. Morgan Sellers further must timely report to the Commission any change in status that would reflect a departure from the characteristics the Commission relied upon in granting market-based rate authority.
This action does not constitute approval of any service, rate, charge, classification, or any rule, regulation, or practice affecting such rate or service provided for in the filed documents; nor shall such action be deemed as recognition of any claimed contractual right or obligation affecting or relating to such service or rate; and such acceptance is without prejudice to any findings or orders which have been or may hereafter be made by the Commission in any proceeding now pending or hereafter instituted by or against any of the applicant(s).
This order constitutes final agency action. Requests for rehearing by the Commission may be filed within 30 days of the date of issuance of this order, pursuant to 18 C.F.R section 385.713.
Questions regarding the above order should be directed to:
Federal Energy Regulatory Commission
Attn: Debra Irwin
Phone: (202) 502-6253
Office of Energy Market Regulation
888 First Street, N.E.
Washington, D.C. 20426
Steve P. Rodgers, Director
Division of Electric Power
Regulation - West
TNS 30FurigayJane-131009-4512919 30FurigayJane
(c) 2013 Targeted News Service
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