Joe Hartsoe, Rick Shapiro, or Jim Steffes can fill you in on the details of  what FERC did today.
One question you need to think about is how their  decision on price caps affects any contracts which we may have indexed to  California's spot market.
The way it reports the market clearing price will  change fundamentally if prices over 150 will be accepted but not used to  clear the market for all bids.
So, if we are using this as a reference price  in our contracts it may trigger the need to look for alternatives.

USA: FACTBOX-FERC details changes for Calif power market.

Joe Hartsoe, Rick Shapiro, or Jim Steffes can fill you in on the details of what FERC did today.
One question you need to think about is how their decision on price caps affects any contracts which we may have indexed to California's spot market.
The way it reports the market clearing price will change fundamentally if prices over <NUMBER> will be accepted but not used to clear the market for all bids.
So, if we are using this as a reference price in our contracts it may trigger the need to look for alternatives.
look alternatives rick shapiro steffes details ferc did today question number accepted bids using reference california spot contracts trigger need clearing price caps affects