1. Electricity Mergers & Acquisitions – FERC Policy
May 7, 2018
Amery Poré, FERC

2. Disclaimer:  The views in this presentation are those of the presenter and do not necessarily represent the views of the Federal Energy Regulatory Commission, its Chairman, or individual Commissioners, and are not binding on the Commission.

3. Key Orders on Market Power Under Section 203
Merger Policy Statement, Inquiry Concerning the Commission’s Merger Policy Under the Federal Power Act (1996)
Order No. 642, Revised Filing Requirements Under Part 33 of the Commission's Regulations (2000)
Order Reaffirming MPS, Analysis of Horizontal Market Power under the Federal Power Act (2012)

4. Market Power Notice of Inquiry
Docket No. RM (September 22, 2016)
Simplified Analyses (de minimis)
Long-term Power Purchase Agreements
Merger-related Documents
Blanket Authorizations
Market Power Tests

5. Market Power Tests Contemplated in NOI
Harmonizing the Commission’s analyses under sections 203 and 205
Supply Curve Analysis
Pivotal Supplier Screen
Market Share Test/Serial Acquisitions

6. Status of Market Power NOI
Comments on the NOI were due November 21, 2016
In late 2017, staff conducted outreach on specific issues and posed questions to certain commenters
Currently evaluating options