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TMCNet:  FERC Issues Letter Order Accepting Atlantic City Electric Company's et al (the Pepco Companies) 12/20/13 Filing of an Updated Market Power Analysis...

[June 20, 2014]

FERC Issues Letter Order Accepting Atlantic City Electric Company's et al (the Pepco Companies) 12/20/13 Filing of an Updated Market Power Analysis...

(Targeted News Service Via Acquire Media NewsEdge) FERC Issues Letter Order Accepting Atlantic City Electric Company's et al (the Pepco Companies) 12/20/13 Filing of an Updated Market Power Analysis in Compliance with Order No. 697 Under ER10-2997 et al WASHINGTON, June 20 -- The U.S. Department of Energy's Federal Energy Regulatory Commission issued the text of the following delegated order: In Reply Refer To: Docket Nos. ER10-2997-003 ER10-3003-003 ER10-3018-003 ER10-3015-003 ER10-3016-003 ER10-2992-003 ER10-3030-003 ER10-2990-003 Atlantic City Electric Company Bethlehem Renewable Energy, LLC Delmarva Power & Light Company Eastern Landfill Gas, LLC Fauquier Landfill Gas, LLC Pepco Energy Services, Inc.


Potomac Electric Power Company Potomac Power Resources, Inc.

(collectively, the Pepco Companies) June 20, 2014 Ms. Sandra E. Rizzo Attorney for the Pepco Companies Arnold & Porter LLP 555 Twelfth Street, N.W.

Washington, D.C. 20004 Reference: Updated Market Power Analysis in Compliance with Order No. 697 Dear Ms. Rizzo: On December 20, 2013, you filed on behalf of the Pepco Companies an updated market power analysis for the Northeast region in compliance with the regional reporting schedule adopted in Order No. 697 and pursuant to the Commission's orders granting the Pepco Companies authority to sell electric energy and capacity at market-based rates.

Your filing was noticed on December 23, 2013, with comments, protests or interventions due on or before February 18, 2014. 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 Pepco Companies own and operate 816 megawatts (MW) of generation capacity located in the PJM Interconnection, L.L.C. (PJM) market, as well as the AP South and 5004/5005 PJM submarkets. You add that the Pepco Companies are wholly owned by Pepco Holdings, Inc., and are not affiliated with any other entities that own or control generation facilities in the PJM market. You further state that all of the transmission assets owned by the Pepco Companies are located within PJM, and are subject to PJM's open access transmission tariff on file with the Commission, and therefore have mitigated any transmission market power. Further, you affirmatively state that the Pepco Companies have not erected barriers to entry and will not erect barriers to entry into the relevant markets.

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.

The Pepco Companies have prepared the pivotal supplier and wholesale market share screens for the PJM market, as well as the AP South and 5004/5005 PJM submarkets consistent with the requirements of Order No. 697.

The Pepco Companies' horizontal market power screens have been reviewed, and the Pepco Companies pass both the pivotal supplier and wholesale market share screens in those markets. Based on your representations, the Pepco Companies' submittal satisfies the Commission's requirements for market-based rate authority regarding horizontal market power.

Based on your representations, the Pepco Companies' submittal also satisfies the Commission's requirements for market-based rate authority regarding vertical market power.

The Pepco Companies must file electronically with the Commission Electric Quarterly Reports. The Pepco 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 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: Michelle Barnaby Phone: (202) 502-8407 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-140621-30FurigayJane-4773938 30FurigayJane (c) 2014 Targeted News Service

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