ferc meeting market based rate review commission discussed market based rate policy today meeting vote order today expect take issue next meeting staff memo recommended following interim period ferc deal pending requests market based rates triennial reviews rate authorizations using new test called supply margin assessment also called jazzed version hub spoke test seller capacity reviewed generation reserve margin market test takes account constraints based ttc capacity seller necessary meet peak demand seller market power test applicable markets part existing rto iso selling rto iso ferc continue allow market based rates subject market monitor mitigation staff also recommends ferc initiate section 206 investigation require seller market based rate authority change tariff adding provision stating seller acts anticompetitive manner ferc require refunds questioning commissioner massey revealed even seller engage bad behavior sold disfunctional market refunds could required staff memo apparently staff left vague definition anticompetitive behavior order able interpret broadly however commissioners asked staff better define anticompetitive actions could trigger refunds policy brought next commission meeting october 11 issued proposed action giving parties opportunity comment within 15 days also file reply comments final action expected within 60 90 days last long term ferc hold outreach meetings looking answers detect market power detected since interim measure snapshot approach according commissioner massey willing support along described tariff provision commissioner breathitt uncomfortable open refund requirement stating adds regulatory uncertainty time commission interested giving certainty industry order assure reliability