The Federal Energy Regulatory Commission (FERC) released its Combined Notice of Filings #1 on February 23, 2026, cataloging a range of submissions from energy sector entities. This notice, published in the Federal Register Volume 91, Number 35, highlights applications for corporate transactions, rate changes, and status certifications that could shape the U.S. electric power landscape. Key developments include joint applications for mergers under Section 203 of the Federal Power Act, notices of changes in market-based rate authority, and self-certifications for exempt wholesale generators. Occurring amid ongoing shifts toward renewable energy and grid reliability, these filings underscore FERC's role in overseeing competitive and reliable electricity markets. Stakeholders have until specified dates in early March 2026 to comment or intervene.
Overview of Section 203 Applications
Section 203 of the Federal Power Act requires FERC approval for certain mergers, acquisitions, or dispositions of jurisdictional facilities to ensure they do not harm competition or rates. The notice lists two such joint applications. In Docket EC26-65-000, filed on February 11, 2026, entities like Alton Post Office Solar, LLC, Bitter Ridge Wind Farm, LLC, and Mustang Yieldco Acquirer LLC seek authorization for transactions involving solar and wind projects. These applicants, many affiliated with renewable energy developers, aim to consolidate assets, potentially streamlining operations in the growing clean energy sector.
A second application in Docket EC26-66-000, submitted on February 17, 2026, involves Alliance NYGT, LLC and partners like Seneca Power Partners, L.P. This filing pertains to natural gas-fired generation facilities in New York, reflecting efforts to reorganize ownership amid evolving market conditions. FERC evaluates these under criteria established in its 1996 Merger Policy Statement and subsequent orders, such as Order No. 642, which emphasize competitive effects, ratepayer protection, and regulatory oversight. Comments are due by March 4 and March 10, 2026, respectively, allowing input from competitors, consumer advocates, and state regulators.
Exempt Wholesale Generator and Foreign Utility Certifications
The notice includes a self-certification for exempt wholesale generator (EWG) status in Docket EG26-157-000, filed by Gunnar Reliability Project LLC on February 18, 2026. EWGs are entities that sell electricity exclusively at wholesale and are exempt from certain Public Utility Holding Company Act regulations, as defined in the Energy Policy Act of 2005. This status facilitates investment in generation without full utility oversight, provided they meet criteria like not owning transmission facilities.
Additionally, three foreign utility company (FUCO) self-certifications appear in Dockets FC26-9-000, FC26-10-000, and FC26-11-000, all filed on February 18, 2026, by Asia Environmental Companies, Atlantic Power Canada Companies, and Energia Companies. FUCO status allows U.S. holding companies to invest in foreign utilities without triggering domestic regulatory burdens, per the Public Utility Holding Company Act of 2005. These filings highlight international ties in the energy industry, potentially enabling capital flows for global projects while ensuring no adverse impacts on U.S. markets.
Electric Rate Filings and Changes
A significant portion of the notice addresses electric rate matters under Section 205 of the Federal Power Act, which governs rate schedules for transmission and wholesale sales. Several dockets involve notices of non-material changes in status for market-based rate (MBR) sellers, such as Puget Sound Energy, Inc. in ER10-2374-024 and Elk Hills Power, LLC in ER10-3028-008, both filed February 2, 2026. These updates inform FERC of shifts in ownership or affiliations that might affect market power, drawing from precedents like Order No. 697, which requires triennial market power analyses.
Other filings propose specific rate adjustments. For instance, Docket ER20-2054-000 features a formal challenge by the New England States Committee on Electricity to Central Maine Power Company's 2025 annual update, filed February 9, 2026. This dispute centers on transmission rate formulas, a common area of contention in regional transmission organizations. Similarly, NorthWestern Corporation's filing in ER26-1428-000 seeks a single-issue depreciation rate change effective January 1, 2026, which could influence cost recovery for infrastructure investments.
New rate filings include American Transmission Systems, Incorporated's construction agreement in ER26-1425-000 and Duquesne Light Company's Order No. 898 compliance filing in ER26-1426-000. The New York Independent System Operator's submission in ER26-1431-000 proposes winter reliability capacity enhancements, addressing seasonal demand peaks amid climate-driven weather events.
Background and Key Players
FERC, an independent agency regulating interstate electricity transmission and wholesale sales, processes these filings to promote fair competition and reliable service. Key players span renewables (e.g., solar and wind entities in EC26-65-000) to traditional utilities (e.g., Puget Sound Energy). Political forces include the push for decarbonization under the Inflation Reduction Act of 2022, influencing renewable mergers, while grid reliability concerns, as in recent FERC orders on extreme weather (e.g., Order No. 2023), underpin filings like NYISO's winter enhancements.
Perspectives vary: Industry groups may view consolidations as efficiency-boosting, while consumer advocates, like those potentially intervening, argue for scrutiny to prevent rate hikes. State regulators, such as those in New England, often challenge filings to protect local interests, reflecting federal-state tensions in energy policy.
Implications and Perspectives
Short-term, these filings could lead to expedited approvals, enabling transactions that enhance grid integration of renewables. Long-term, they may contribute to market concentration debates, with FERC balancing innovation against antitrust concerns. Different viewpoints include environmental groups favoring renewable expansions for emission reductions, versus ratepayer organizations wary of cost pass-throughs. Legal precedents like the D.C. Circuit's ruling in NextEra Energy Resources, LLC v. FERC (2020) emphasize thorough competitive analyses, guiding FERC's reviews.
In summary, this notice reflects dynamic energy markets, with potential for stakeholder debates shaping outcomes.
