Commissioner Glick

Episode 22 (Morgan You Bargained For)

Jul 7, 2021 |

In which we sit down with Curt Morgan, the president and CEO of Vistra Corp., to discuss his investment philosophy in the power-generation business, the current investment status of generation technologies, how financial markets are disciplining the industry and leading the ESG revolution, the “terminal value” issue with gas-fired generation and why you never want to be the first owner of such a facility, gas pipelines’ dirty little secret, the reality of climate change, putting the power-industry transition into historical perspective, how PJM’s markets have performed, why power markets need to ditch some terminology as they add emissions to their list of must-haves, why carbon pricing and PJM’s MOPR are DOA and ERCOT turning gun-shy.

Episode 21 (Bowring 2: The Monitor Is Always Watching)

May 10, 2021 |

In which we welcome PJM Independent Market Monitor Joe Bowring into the illustrious GT Power Hour Two-Timers Club to continue discussion of the compelling comments fellow club-member FERC Chairman Glick made on the previous episode, and the Monitor – as he is wont to do – happily (and ably) complies. Brace for a deep dive on the minimum offer-price rule (MOPR) in the capacity market, why FERC wants it pared back, how PJM appears likely to respond, the interaction of capacity and energy markets and what can be done to transfer generators’ reliance on capacity-market payments to actual performance in energy and ancillary-services markets. Let’s just say the Monitor and the Chairman don’t see eye to eye on several things.
It’s a pretty meaty talk that doesn’t stray far from the issues at hand, but there is some ranting and commiseration on the misery of driving the I-76 Schuylkill Expressway. Better buckle up!

Episode 20 (Glick 2: A Change Is Gonna Come… No Really, Like Now)

Apr 13, 2021 |

In which we take a second crack at recently appointed FERC Chairman Rich Glick as he settles into his new role, and he is very clear in setting his agenda: changes are coming – and some are already here. Less than three months into his leadership, Glick’s FERC has already announced more than a dozen major changes and initiatives, some of which touch on hot-button issues – like system reliability and resource adequacy in relation to climate change – and others that focus squarely on them, such as creating a new senior-level commission position to address environmental justice and opening an Office of Public Participation.

From PJM’s minimum offer-price rule (MOPR) to the standards for evaluating proposals for natural-gas pipelines to how power generators are compensated and whether capacity markets are essential, the chairman goes on to lay out his vision and plans going forward, as well as expected timelines. We also discuss his beloved New York Mets, his abysmal record in picking this year’s March Madness winners and his expectations on energy-related legislation coming out of Congress this session. Shorter than many of our episodes, let’s just call this one “highly concentrated” and well worth the time!

Episode 18 (Capacity-Market Deep Dive)

Feb 19, 2021 |

In which Glen and Rory dig deep to break down PJM’s capacity construct: where it’s been, where it’s going, how it compares to other regional grids and the major forces at play in shaping its future.
But that’s not all! (It never is.) TB12 and the Calvin and Hobbes comic strip make appearances in the conversation as Glen coins the phrase “that warm barn of regulation” and presages the devastating blackouts in Texas that would occur just hours after recording the episode. What should become of the MOPR? Are PJM and its member states still invested in competitive markets? What’s the deal with monopsony market-power? Can state statutes play nice with market forces? How does the new-look FERC impact all of this? Does New Jersey’s new market-design idea have legs? No questions barred and all things considered, it’s a discussion about electricity supply and system reliability that you don’t want to miss!

Episode 10 (Primetime Glick! FERC-Style)

Jun 25, 2020 |

In which we spend quality time with the lone Democrat at FERC, Commissioner Richard Glick, who delves deep into his relationship with the three Republicans on the Commission, how he approaches the fraught dynamics of maintaining personal relationships with coworkers with whom he’s ideologically opposed, his thoughts on minimum offer-price rules (MOPRs), his preference for a national carbon price, why the social cost of carbon should be included in judging the value of proposed pipeline projects, why sports fanaticism is the workplace is a good thing and, finally, the many contributions of the late, great George Carlin.

Episode 21 (Bowring 2: The Monitor Is Always Watching)

Episode 18 (Capacity-Market Deep Dive)

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