FERC APPROVES ADVANCEMENT OF FUNDS FOR DISSOLUTION OF FRCC’S REGIONAL ENTITY DIVISION

On June 15, 2019, in Docket No. RR19-4-001, FERC issued a letter order approving the petition for the request to advance funds from NERC's Operating Contingency Reserves to support the dissolution of FRCC Inc.'s Regional Entity division. NERC submitted this request on May 16, 2019. Pursuant to this petition, NERC requested the Commission’s approval of one time advance of funds up to $1,500,000 by June 15, 2019, the treatment of this advance as an expenditure of NERC’s operating contingency reserves exceeding $500,000 if necessary, and the permission for NERC to replenish its operating contingency reserves up to the amount advanced to FRCC. FERC has approved of NERC’s petition on the condition that NERC submit a future informational report on or before June 1, 2020.

 To view FERC’s letter order, click here.