FERC approves Basin Electric’s market-based rates application
The Federal Energy Regulatory Commission (FERC) approved Basin Electric market-based rates applications on June 5 for the cooperative's eastern interconnected system operations.
FERC approved the cooperative’s request to have market-based rate sales authority in the Southwest Power Pool and MISO, and the order became effective June 7. The request was filed April 7. This authority is required for utilities to make wholesale power sales in the market (as opposed to regulated cost-based retail sales).
According to Dave Raatz, Basin Electric senior vice president of Asset Management, Resource Planning, and Rates, staff is also planning to submit market-based rate applications for Basin Electric's western interconnected system operations for FERC approval in July following submittal of required western interconnected Open Access Transmission Tariff filings.
Mark Foss, Basin Electric general counsel, said the cooperative is submitting each of these applications separately in an effort to meet FERC’s expectations for formatting in a more efficient manner, due to a previous FERC rejection. Basin Electric had submitted all FERC filings on Sept. 30, 2019, and at that time, FERC rejected all filings without prejudice due to formatting.
Basin Electric became subject to FERC rules and regulations Nov. 1, 2019, due to the growth of member-owner systems.