More from the PSC's complaint just filed with the Federal Energy Regulatory Commission. The Mid-Atlantic grid monitor found that a lack of competition cost Maryland electricity consumers $87.5 million in 2006. (See post below.) In addition to asking FERC to put price caps on the exempt plants, the PSC wants electric companies to pay back some of the excess profits to consumers -- starting in September 2006, when the market monitor first raised issues, and also in 2007 and up to now. The companies are not identified -- this is based on a macro analysis that doesn't break out who was getting what. Presumably that would be part of the FERC investigation.

"The MD PSC also requests that the Commission intitiate an investigation to determine whether generators exempt from offer capping have exercised market power -- as the [market monitor's] conclusions and data show -- for the period from 2006 to the present, and... order disgorgement of monies where price manipulation is found."