FERC finds Exelon didn't manipulate market

By the OGJ Online Staff

HOUSTON, Dec. 19 -- Federal regulators Wednesday terminated an investigation into alleged market manipulation by Exelon Corp. and its utility unit Peco Energy Co. and trading affiliates in the Northeast in 1999.

The Federal Energy Regulatory Commission said it found no proof the company and its affiliates improperly shared information about unit outages in the PJM Interconnection LLC in November and December of 1999. PJM manages the transmission grid in parts of Pennsylvania, New Jersey, Maryland, and Washington, DC.

FERC alleged that PECO Energy, Exelon's electric transmission and distribution business in southeastern Pennsylvania, may have operated its transmission system to benefit Exelon's Power Team, the company's wholesale trading arm, or that PECO may have shared nonpublic transmission information with Power Team.

Elizabeth Moler, Exelon senior vice-president and former FERC chairwoman, said Exelon was "delighted" FERC accepted the company's evidence refuting the allegations. She said the company also supported PJM's new procedures to make the market more open and transparent. FERC ordered PJM to require generators to schedule planned unit outages a month in advance.

Chicago-based Exelon was formed last year when Philadelphia Electric Co.'s parent company acquired Chicago's Commonwealth Edison. The distributes electricity and gas to 5 million customers in Illinois and Pennsylvania and also has holdings in infrastructure services, energy services, and telecommunications.

Related Articles

Magnum Hunter names reservoir engineering vice-president

03/05/2015 Magnum Hunter Resources Corp., Houston, has appointed Charlie Gibson as vice-president of reservoir engineering, effective. He will report to Gary ...

SERVICE | SUPPLIERS

03/02/2015

Smart phone technology enhances field studies

03/02/2015

Throughout northern Oklahoma and Kansas, the Mississippian Lime has emerged as a significant unconventional oil play.

Michie named Oil & Gas UK chief executive

02/27/2015

Deirdre Michie has been named chief executive of Oil & Gas UK, replacing Malcolm Webb, who will retire May 31.

Work stoppages commence at largest US refinery, three other facilities

02/23/2015 The United Steelworkers union (USW) has launched additional work stoppages at the largest refinery in the US and three other facilities as part of ...

Partners submit Johan Sverdrup development plan

02/23/2015 Partners Statoil ASA, Lundin Petroleum AB, Petoro, Det Norske Oljeselskap ASA, and Maersk Oil have submitted a plan for development and operation (...

Ohio Supreme Court rules against municipality in oil and gas case

02/23/2015 The Ohio Supreme Court ruled that the city of Munroe Falls cannot impose local drilling and zoning ordinances that conflict with Ohio state law reg...

USW union workers add two BP refineries to strike list

02/16/2015 Union workers at two BP PLC-owned refineries in Indiana and Ohio have joined the United Steelworkers union's unfair labor practice strike against t...

CNOOC cuts capital budget, starts production from Jinzhou 9-3

02/16/2015 CNOOC Ltd. is slashing its capital budget for 2015 by 26-35% to $11.25-12.86 billion compared with last year's budget. Capital expenditures for exp...
White Papers

Transforming the Oil and Gas Industry with EPPM

With budgets in the billions, timelines spanning years, and life cycles extending over decades, oil an...
Sponsored by

Asset Decommissioning in Oil & Gas: Transforming Business

Asset intensive organizations like Oil and Gas have their own industry specific challenges when it com...
Sponsored by

Squeezing the Green: How to Cut Petroleum Downstream Costs and Optimize Processing Efficiencies with Enterprise Project Portfolio Management Solutions

As the downstream petroleum industry grapples with change in every sector and at every level, includin...
Sponsored by

7 Steps to Improve Oil & Gas Asset Decommissioning

Global competition and volatile markets are creating a challenging business climate for project based ...
Sponsored by

The impact of aging infrastructure in process manufacturing industries

Process manufacturing companies in the oil and gas, utilities, chemicals and natural resource industri...
Sponsored by

What is System Level Thermo-Fluid Analysis?

This paper will explain some of the fundamentals of System Level Thermo-Fluid Analysis and demonstrate...

Accurate Thermo-Fluid Simulation in Real Time Environments

The crux of any task undertaken in System Level Thermo-Fluid Analysis is striking a balance between ti...

6 ways for Energy, Chemical and Oil and Gas Companies to Avert the Impending Workforce Crisis

As many as half of the skilled workers in energy, chemical and oil & gas industries are quickly he...
Sponsored by
Available Webcasts

On Demand

Global LNG: Adjusting to New Realities

Fri, Mar 20, 2015

Oil & Gas Journal’s March 20, 2015, webcast will look at how global LNG trade will be affected over the next 12-24 months by falling crude oil prices and changing patterns and pressures of demand. Will US LNG production play a role in balancing markets? Or will it add to a growing global oversupply of LNG for markets remote from easier natural gas supply? Will new buyers with marginal credit, smaller requirements, or great need for flexibility begin to look attractive to suppliers? How will high-cost, mega-projects in Australia respond to new construction cost trends?

register:WEBCAST


US Midstream at a Crossroads

Fri, Mar 6, 2015

Oil & Gas Journal’s Mar. 6, 2015, webcast will focus on US midstream companies at an inflection point in their development in response to more than 6 years shale oil and gas production growth. Major infrastructure—gas plants, gathering systems, and takeaway pipelines—have been built. Major fractionation hubs have expanded. Given the radically changed pricing environment since mid-2014, where do processors go from here? What is the fate of large projects caught in mid-development? How to producers and processors cooperate to ensure a sustainable and profitable future? This event will serve to set the discussion table for the annual GPA Convention in San Antonio, Apr. 13-16, 2015.

This event is sponsored by Leidos Engineering.

register:WEBCAST


The Future of US Refining

Fri, Feb 6, 2015

Oil & Gas Journal’s Feb. 6, 2015, webcast will focus on the future of US refining as various forces this year conspire to pull the industry in different directions. Lower oil prices generally reduce feedstock costs, but they have also lowered refiners’ returns, as 2015 begins with refined products priced at lows not seen in years. If lower per-barrel crude prices dampen production of lighter crudes among shale plays, what will happen to refiners’ plans to export more barrels of lighter crudes? And as always, refiners will be affected by government regulations, particularly those that suppress demand, increase costs, or limit access to markets or supply.

register:WEBCAST


Oil & Gas Journal’s Forecast & Review/Worldwide Pipeline Construction 2015

Fri, Jan 30, 2015

The  Forecast & Review/Worldwide Pipeline Construction 2015 Webcast will address Oil & Gas Journal’s outlooks for the oil market and pipeline construction in a year of turbulence. Based on two annual special reports, the webcast will be presented by OGJ Editor Bob Tippee and OGJ Managing Editor-Technology Chris Smith.
The Forecast & Review portion of the webcast will identify forces underlying the collapse in crude oil prices and assess prospects for changes essential to recovery—all in the context of geopolitical pressures buffeting the market.

register:WEBCAST


Emerson Micro Motion Videos

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected