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TMCNet:  FERC Issues Letter Order Accepting AP Holdings, LLC's et al June 28, 2013, as Amended on November 12, 2013 and January 14, 2014 Filing of an Updated...

[March 15, 2014]

FERC Issues Letter Order Accepting AP Holdings, LLC's et al June 28, 2013, as Amended on November 12, 2013 and January 14, 2014 Filing of an Updated...

(Targeted News Service Via Acquire Media NewsEdge) FERC Issues Letter Order Accepting AP Holdings, LLC's et al June 28, 2013, as Amended on November 12, 2013 and January 14, 2014 Filing of an Updated Market Power Analysis in Compliance with Order No. 697 Under ER10-2848 et al WASHINGTON, March 13 -- The U.S. Department of Energy's Federal Energy Regulatory Commission issued the text of the following delegated order: Docket Nos. ER10-2848-002 ER11-1939-004 ER11-2754-004 ER12-999-002 ER12-1002-002 ER12-1005-002 ER12-1006-002 ER12-1007-003 AP Holdings, LLC AP Gas & Electric (PA), LLC AP Gas & Electric (TX), LLC AP Gas & Electric (MD), LLC AP Gas & Electric (NJ), LLC AP Gas & Electric (IL), LLC AP Gas & Electric (OH), LLC AP Gas & Electric (NY), LLC (collectively, the AP Holdings Companies) March 13, 2014 Mr. Matthew T. Rick Attorney for the AP Holdings Companies JOHN & HENGERER 1730 Rhode Island Avenue, N.W.


Suite 600 Washington, D.C. 20036 Reference: Updated Market Power Analysis in Compliance with Order No. 697 Dear Mr. Rick: On June 28, 2013, as amended on November 12, 2013 and January 14, 2014, you filed on behalf of the AP Holdings Companies an updated market power analysis for the Southwest region in compliance with the regional reporting schedule adopted in Order No. 697 and pursuant to the Commission's order granting the AP Holdings Companies authority to sell electric energy and capacity at market-based rates.

Your filings were noticed on July 1, 2013, November 13, 2013, and January 15, 2014, with comments, protests or interventions due on or before August 27, 2013, December 3, 2013, and February 4, 2014, respectively. 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 submittals filed in the referenced dockets are accepted for filing.

You represent that the AP Holdings Companies are power marketers with their principal place of business in Houston, Texas. You state that AP Holdings, LLC, which wholly owns the remaining AP Holdings Companies, is owned by APG&E Holdings, LLC and EDF Trading North America, LLC. You state that the AP Holdings Companies are affiliated with approximately 844 megawatts of generation capacity in the California Independent System Operator (CAISO) market. You also represent that the AP Holdings Companies and their affiliates do not own, operate, or control any transmission facilities. Further, you affirmatively state that the AP Holdings Companies and their affiliates 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 AP Holdings Companies rely on EDF Trading North America, LLC's recently accepted market power analysis to demonstrate that the AP Holdings Companies pass both the pivotal supplier and the wholesale market share screens for the CAISO market. Accordingly, the AP Holdings Companies' submittals satisfy the Commission's requirements for market-based rate authority regarding horizontal market power.

Based on your representations, the AP Holdings Companies' submittals also satisfy the Commission's requirements for market-based rate authority regarding vertical market power.

The AP Holdings Companies must file electronically with the Commission Electric Quarterly Reports. The AP Holdings Companies 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 in accordance with Order No. 697.

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 AP Holdings Companies.

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 Sincerely, Steve P. Rodgers, Director Division of Electric Power Regulation - West TNS 18EstebanLiz-140315-30FurigayJane-4668538 30FurigayJane (c) 2014 Targeted News Service

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