Texas PUC Staff Initiated Two Enforcement Actions Into Potential Market Manipulation In Last 12 Months

December 1, 2023

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Copyright 2010-23 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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In an annual market manipulation report to the legislature, the Texas PUC reported that Potomac Economics, serving as the Independent Market Monitor (IMM) for the Electric Reliability Council of Texas (ERCOT) power region, reported to the Commission or Commission Staff six instances of potential market manipulations during the 12-month reporting period November 1, 2022 through October 31, 2023.

According to the report filed today, Commission Staff has initiated enforcement action on two of the six reports of potential market manipulation. The Commission did not institute a formal investigation on its own motion in any instance during this period.

The report did not identify any specific investigation or cases, or indicate if such investigations have been resolved and, if so, what conclusion was reached. The report did not indicate if any of the investigations have already resulted in public action before the Commission (such as through a previously reported notice of violation, settlement, etc.)

The report did not list the entities subject to such enforcement actions or referrals by the IMM

The report did not list any specific behaviors addressed under the reported instances

The report said that the following statutes, Commission rules, or ERCOT Nodal Protocols or Other Binding Documents were implicated by the IMM’s reporting of the instances described above:

a. PURA § 39.157(a), related to Commission Authority to Address Market Power

b. 16 Tex. Admin. Code § 25.503(f), related to Duties of Market Entities

c. 16 Tex. Admin Code § 25.503(g)(7), related to Prohibited Activities

d. ERCOT Nodal Protocols § 4.4.4(17), related to DC Tie Schedules

e. ERCOT Nodal Protocols § 4.4.9.4.1(1)(f)(iii)(c), related to Mitigated Offer Cap

f. ERCOT Nodal Protocols § 4.4.9.4.1(1)(i), related to Mitigated Offer Cap

g. ERCOT Nodal Protocols § 4.4.9.4.1(1)(j), related to Mitigated Offer Cap

h. ERCOT Nodal Protocols § 4.4.9.4.1(1)(k), related to Mitigated Offer Cap

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