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Partial victory for PSC
Federal regulators Thursday struck down market rules exempting certain Maryland power generators from price caps designed to prevent windfall profits, potentially saving utility customers nearly $90 million a year, state regulators said.
The ruling is a partial victory for the state Public Service Commission, which complained to federal regulators that certain unnamed generators were taking advantage of their price cap exemptions to overcharge for electricity at times when no one was bidding against them. In its order, the Federal Energy Regulatory Commission ruled that price caps should be applied equally to all generators.
Posted by: Sammy on 05/16 at 05:23 AM