On Aug. 2, 2021, the Federal Energy Regulatory Commission (FERC) approved a settlement agreement in docket no. IN21-7-000 between Terra-Gen, LLC and FERC’s Office of Enforcement. The settlement related to concerns about whether a resource owned by a Terra-Gen subsidiary was qualified to receive Participating Intermittent Resource Program (PIRP) protective measures from December 2014 through March 2017. These measures were temporary alternative market settlement rules for variable energy resources meeting certain requirements. As part of the settlement, Terra-Gen agreed to pay the California ISO $117,231 in disgorgement. This amount represented the benefit this resource gained through its ISO market settlements from receiving PIRP protective measures. The agreement, in turn, required the ISO to allocate the funds “in its discretion for the benefit of CAISO customers and upon approval by Enforcement of CAISO’s plan for doing so.”

The ISO has received the disgorged funds and will distribute them to scheduling coordinators pro rata based on their charges for the costs of protective measures over the period. This approximates a refund to the affected scheduling coordinators. Eligible scheduling coordinators will see the credit on the October 2021 monthly statement publishing on Nov. 11, 2021. The distribution will appear under Charge Code 8999 - Monthly Neutrality Adjustment.