"In order to accommodate the PJM study process, while providing a measure of certainty for both the PATH Companies and the NPS, the PATH Companies respectfully request that the NPS continue to hold its application review in abeyance until 60-days after the PJM Board issues a further decision on the status of the PATH Project. Promptly after being advised of such further decision by the PJM Board, the PATH Companies will notify the NPS of that decision and, within such 60-day period, submit a further request to the NPS with regard to the pending applications."
According to the letter, PJM is not expected to make a decision until sometime AFTER May 2012.
"As indicated by the PJM Staff report, additional analysis will be undertaken after completion of the May 2012 forward capacity auction results. The time required by PJM Staff to perform such analysis thereafter is not yet
You're not really surprised, are you? This is exactly what I expected would happen after Order No. 1000 was issued, delaying the retooling of PJM's planning process, and after PATH painted themselves into a corner in Virginia.
On April 12, 2011, Virginia State Corporation Commission Hearing Examiner Alexander Skirpan issued his report and recommendations on the March 17 hearing regarding PATH's withdrawal of its application in that state. In his report, Skirpan recommended that certain conditions be placed on the filing of a new application for the project in Virginia. One of these conditions was that the application must be based on a completed 2012 RTEP, which won't be issued until first quarter 2013. The Virginia Commission's Order included this stipulation.
Word is that the NPS/NFS are considering PATH's request. No decision date has been indicated.
The only "certainty" being provided here is that every year this drags on, PATH makes another $13M in pure profit, courtesy of their FERC formula rate and incentives. There is no motivation for them to ever restart this project -- they've got $130M tucked safely away in an account that earns 12.4% profit every year. What a sweet deal!
All PATH's profits come directly from your pocket in the form of higher and higher electric bills.
Your orchestra has begun composing a new tune... so check back later for more on this subject.