In which we mark the end of Season 2 in our now annual tradition of debating the major industry trends of the past year. Listen closely as we explain how a Trump-era addition to the Federal Power Act is having unintended consequences, why 2021 may end up being the high-water mark for RTO/ISO participation and what happens to Pennsylvania’s currently most-famous Bens: Simmons and Roethlisberger. Happy holidays and see you next year!
In which we welcome PJM Independent Market Monitor Joe Bowring into the illustrious GT Power Hour Two-Timers Club to continue discussion of the compelling comments fellow club-member FERC Chairman Glick made on the previous episode, and the Monitor - as he is wont to do - happily (and ably) complies. Brace for a deep dive on the minimum offer-price rule (MOPR) in the capacity market, why FERC wants it pared back, how PJM appears likely to respond, the interaction of capacity and energy markets and what can be done to transfer generators’ reliance on capacity-market payments to actual performance in energy and ancillary-services markets. Let’s just say the Monitor and the Chairman don’t see eye to eye on several things.
It’s a pretty meaty talk that doesn’t stray far from the issues at hand, but there is some ranting and commiseration on the misery of driving the I-76 Schuylkill Expressway. Better buckle up!
In which Glen and Rory dig deep to break down PJM’s capacity construct: where it’s been, where it’s going, how it compares to other regional grids and the major forces at play in shaping its future.
But that’s not all! (It never is.) TB12 and the Calvin and Hobbes comic strip make appearances in the conversation as Glen coins the phrase “that warm barn of regulation” and presages the devastating blackouts in Texas that would occur just hours after recording the episode. What should become of the MOPR? Are PJM and its member states still invested in competitive markets? What’s the deal with monopsony market-power? Can state statutes play nice with market forces? How does the new-look FERC impact all of this? Does New Jersey’s new market-design idea have legs? No questions barred and all things considered, it’s a discussion about electricity supply and system reliability that you don’t want to miss!
In which we probe deep into the mind of Manu Asthana one year into his tenure as PJM’s president and CEO, and he proves to be up to the task – both in the interview and the job. Ranging from the MOPR, the ORDC, the NJBPU’s state-agreement approach on analyzing offshore wind and a word salad of other industry jargon to the pandemic and social-justice movements, we explore our guest’s perspectives on a wide variety of topics – and consistently return to themes of unity and equality that might be exactly the kind of leadership PJM needs right now.
In which Glen and Rory mark the end of Season 1 by kicking back and reviewing the year that was in their own signature way: debating over lists! Without ruining the suspense, expect to hear about the MOPR, action on carbon and climate, the ascendancy of the Washington Football Team and the ending of the Pittsburgh Steelers’ bid for an undefeated season, a return to stronger pandemic restrictions and what that means for PJM, ELCC, nuclear-bailout scandals, interconnection frustrations, stakeholder tensions and organizational challenges at PJM. Don’t like our lists? Send us a note and tell us what we missed… Happy holidays and see you next year!
In which we ask Stefanie Brand, the the Director for the New Jersey Division of Rate Counsel, to not only defend her adopted state but also hold it accountable, which – as the state’s consumer advocate, she of course does with aplomb. FRR, MOPR, ZECs… they’re all here – as is the Taylor Ham/Pork Roll controversy, why everyone dumps on NJ, whether Central Jersey exists, love for New York, Pennsylvania, Jacob DeGrom and Michelle Obama, living as a Mets fan, the Jersey Shore Sound and feeling like an underdog, Eagles vs. Giants, Phillies vs. Mets (and why that’s even the question)… all-Jersey all the time on this episode. Check it while you’re chilling down the shore.
In which we spend quality time with the lone Democrat at FERC, Commissioner Richard Glick, who delves deep into his relationship with the three Republicans on the Commission, how he approaches the fraught dynamics of maintaining personal relationships with coworkers with whom he’s ideologically opposed, his thoughts on minimum offer-price rules (MOPRs), his preference for a national carbon price, why the social cost of carbon should be included in judging the value of proposed pipeline projects, why sports fanaticism is the workplace is a good thing and, finally, the many contributions of the late, great George Carlin.
In which we go toe to toe with the man himself, FERC Chairman Neil Chatterjee. Actually, it’s quite cordial because, as the Chairman makes clear from the jump, he likes his reputation as a “people person” and works very hard to maintain it. Also: What it was like behind the scenes during the tumultuous beginning of his tenure, if he takes any of the criticism and accusations of politicizing the office personally, why he doesn’t consider it work, when the University of Kentucky Wildcats men’s basketball team will win the NCAA National Championship again, who Bryce Harper is and where he goes to listen to the GT Power Hour.
In which we discuss how the Annual Meeting was done – for the first time – all by conference call; the ongoing effects of the COVID-19 pandemic – including estimates on how it will impact PJM’s bottom line; the unsung heroes of the energy business; a fond farewell to two big names at PJM; Michael Moore’s new documentary “Planet of the Humans” and a cameo by a previous guest of the podcast; Lebanon County, Pennsylvania; the horse latitudes; the Washington Redskins; and PJM CEO/President Manu Asthana’s first five months on the job.
In which we learn many things about former FERC Commissioner (and current Executive Vice President of Business Operations Group and Regulatory Affairs at the Edison Electric Institute) Phil Moeller, including his extensive experience with Alaskan salmon canning, EEI’s efforts to proactively address the COVID-19 pandemic and his thoughts on FERC’s proposed revisions to PURPA.
