FERC settles with Saracen over tariff violations

On August 22, FERC issued an order approving a settlement between FERC’s Office of Enforcement and Saracen Energy Midwest, LP (Saracen) that resolves Enforcement’s investigation into whether Saracen violated the Southwest Power Pool, Inc. (SPP) tariff by submitting bids for Transmission Congestion Rights (TCRs) at Electronically Equivalent Settlement Locations (EESLs) for auctions in September and October 2014, and March and April 2015.  Enforcement determined that in five separate auction rounds across these four different auction months, Saracen submitted TCR bids at EESLs, which is prohibited under the SPP tariff.  Saracen neither admitted nor denied the violations and agreed to pay a civil penalty of $25,000.  Saracen also agreed to implement measures designed to ensure compliance in the future, including submitting an annual compliance report.