Biggest U.S. Power Sale of the Year Is Getting Delayed Again
- FERC tells PJM to postpone auction amid uncertainty over rules
- Order comes amid debate over state coal, nuclear bailouts
Chicago harbor aerial view at dawn.
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The biggest and most closely watched U.S. power auction of the year has been delayed again -- indefinitely, this time.
The Federal Energy Regulatory Commission on Thursday ordered the nation’s largest power grid operator to suspend an auction that it had planned to hold in August to secure electricity capacity for more than 65 million people from Chicago to Washington. The annual sale, which generators including Exelon Corp., Calpine Corp. and Vistra Energy Corp. count on to lock in billions of dollars in future revenue, had already been delayed once before from May.