FERC rules clean energy must pay higher market price in New York

The Federal Energy Regulatory Commission on Thursday issued a suite of orders that will require subsidized energy storage and renewable power resource providers to meet a price floor in New York state's capacity market, making it harder for them to compete with fossil fuel plants. The move, which environmental groups said effectively bolsters fossil fuel generators by forcing renewable resource providers to pay a premium in the capacity market, follows a similar FERC order in December that applied to PJM Interconnection, the largest U.S. power grid operator. In a press release, FERC said the orders protect competition by narrowing exemptions from the price floor rules.