US power market concern over FERC credit reforms

The US FERC’s recent move to standardise credit policies across the US power market has led some participants to question the application of a ‘one size fits all’ approach across the organised wholesale markets. Pauline McCallion reports

One size doesn't always fit all

In the wake of the financial crisis, the US Federal Energy Regulatory Commission (FERC) issued a set of credit reforms for the organised US wholesale power markets.

The proposals (see 'Proposed reforms' at the end of this feature) have generally been welcomed, as market participants agree with the imposition of limitations in several areas, as well as the need to set strict standards for monitoring credit risk-related issues in general. However, such measures have traditionally been imposed at a

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