IDU - U.S. appeals court nixes FERC approval of Southeastern SEEM market

2023-07-18 11:52:09 ET

The U.S. Court of Appeals for the D.C. Circuit has vacated transmission rules that allow the functioning of the Southeast Energy Exchange Market, a trading platform for several major utility companies, Utility Dive reported Tuesday.

The Federal Energy Regulatory Commission's approval of the transmission rules last year was "inconsistent" with the agency's open access requirements that aim to ensure transmission owners offer non-discriminatory access to their systems, the court said, also remanding FERC's earlier decision approving the overall SEEM market.

"SEEM was disadvantaging independent clean energy generators and privileging its utility members - some of the largest utilities in the country - creating monopoly-like conditions that would prop up their own expensive, carbon-intensive coal and gas resources," said Earthjustice, one of the groups that challenged FERC's approval of SEEM.

ETFs: ( XLU ), ( UTG ), ( VPU ), ( GUT ), ( BUI ), ( FUTY ), ( IDU )

SEEM members include Dominion Energy ( NYSE: D ), Duke Energy ( NYSE: DUK ), Southern Co. ( NYSE: SO ), Tampa Electric and Tennessee Valley Authority.

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