Market Behavior. FTR Forfeitures. Total forfeitures for the 2015 to 2016 planning period were $0.2 million for Increment Offers, Decrement Bids and UTC Transactions. • Credit Issues. There were no defaults in January through March 2016.
Market Behavior. FTR Forfeitures. Total forfeitures for the 2012 to 2013 planning period were $523,227 for Increment Offers and Decrement Bids. • Credit Issues. Six participants defaulted during 2013 from ten default events. The average of these defaults was $55,939 with seven based on inadequate collateral and three based on nonpayment. The average collateral default was $16,587 and the average nonpayment default was $147,761. The majority of these defaults were promptly cured, with one partial cure. These defaults were not necessarily related to FTR positions.
Market Behavior. FTR Forfeitures. FTR forfeitures were not billed after January 19, 2017, pending retroactive implementation of a new FTR forfeiture rule. • Credit Issues. There were no defaults in the first six months of 2017. Market Performance • Volume. The 2017/2020 Long Term FTR Auction cleared 297,083 MW (13.6 percent) of demand of FTR buy bids, up 7.1 percent from 277,397 MW (11.3 percent) in the 2016/2019 Long Term FTR Auction. The Long Term FTR Auction also cleared 36,782 MW (17.6 percent) of FTR sell offers, compared to 61,210 (18.7 percent), a 40.0 percent decrease. • In the Annual FTR Auction for the 2017/2018 planning period 513,263 MW (22.3 percent) of buy and self-schedule bids cleared, up 22.1 percent from 420,198 MW (16.2 percent) for the previous planning period. In the 2016/2017 planning period Monthly Balance of Planning Period FTR Auctions cleared 2,311,996 MW (11.5 percent) of FTR buy bids and 1,004,662 MW (23.1 percent) of FTR sell offers cleared.
Market Behavior. FTR Forfeitures. Total forfeitures for the first seven months of the 2014 to 2015 planning period were $165,433 for Increment Offers, Decrement Bids and UTC Transactions. • Credit Issues. People’s Power and Gas, LLC and CCES, LLC defaulted on their collateral calls and payment obligations in January 2014. Customers of these members have been reallocated accordingly, and neither company held any financial transmission rights. These two load-serving members accounted for 17 of the total 33 default events.
Market Behavior. FTR Forfeitures. Total forfeitures for the first 10 months of the 16/17 planning period were $0.5 million for Increment Offers, Decrement Bids and UTC Transactions using PJM’s method. FTR forfeitures were not billed after January 19, 2017. • Credit Issues. There were no defaults in the first three months of 2017. Market Performance • Volume. In the first 10 months of the 16/17 planning period Monthly Balance of Planning Period FTR Auctions cleared 2,074,581 MW (11.1 percent) of FTR buy bids and 897,198 MW (22.6 percent) of FTR sell offers cleared.
