Mass. Gas Plant Pays $44M To End FERC Payment Probe

By Keith Goldberg (June 28, 2022, 4:19 PM EDT) -- A bankrupt Massachusetts gas-fired power plant has agreed to pay a $17.1 million fine and disgorge $26.7 million in profits to resolve Federal Energy Regulatory Commission allegations that it improperly reaped over $100 million in electricity market payments despite not yet being in service.

Salem Harbor Power Development LP collected the payments from regional grid operator ISO New England's capacity market — where power plants are paid for supplying electricity to meet future demand — for 2017-18 despite the plant's not starting commercial operations until June 2018, according to the settlement agreement approved by FERC on Monday.

FERC enforcement staff alleged that Salem...

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