FERC Approves PJM-MISO JOA Settlement with Limit on Future Claims

June 17, 2011
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FERC has approved without modification a settlement under which all claims that arose, or could have arisen, under the PJM-Midwest ISO Joint Operating Agreement (JOA) are released, and which imposes a one-year time limit for future claims arising under the JOA.

The settlement was first reported by Maters (1/5), and resolves several cross-complaints lodged by PJM and MISO against each other concerning the JOA (Dockets EL10-45 et. al.).

The approved settlement provides for the release and discharge forever of each and every participant (including all intervenors, members of Midwest ISO, members of PJM, Midwest ISO, and PJM) from, "any and all claims, demands, damages, amounts owed, actions, causes of actions, or suits of any kind or nature whatsoever, known or unknown, foreseen or unforeseen, that arose or could have arisen under the JOA for events that occurred prior to the date of the filing of the settlement."

Under the approved stipulation, no rebillings or resettlements of any kind regarding activities conducted under the JOA for any time prior to the filing of the settlement will occur.

Additionally, going forward, a one-year limitation on claims arising under the JOA shall be established. Specifically, the JOA shall be revised to provide that no claim seeking an adjustment in the billing for any service, transaction, or charge under the JOA may be asserted with respect to a particular month, if more than one year has elapsed since the first date upon which the invoice was rendered for the billing for that month.

FERC approved this one-year limitation provision over some stakeholder protest, finding, "that the Settlement balances the need for exchange of information and communication between the RTOs with the realities of the resources and time required to meet these requirements, and that the Settlement strikes an appropriate balance between the ability of the parties to identify and seek remediation for errors or other legitimate claims under the JOA and the need for certainty and finality in the RTO markets and settlement process."

Additional terms of the settlement may be found in our 1/5 story.

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