PJM, parties reach 'agreement in principle' over $160M GreenHat FTR default

Utility Dive: PJM is working to resolve the GreenHat debacle and in particular wants to avoid re-running multiple financial transmission rights auctions — an approach suggested by federal regulators that could increase the total default default allocation among PJM members, according to the grid operator.

PJM explained in a blog post Friday that its concern relates to a FERC directive for the grid operator to re-run its July 2018 FTR auction to include liquidation offers from the defaulted GreenHat Energy portfolio for August 2018 through May 2019, and not just August 2018.

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