Dive Summary:

• The New York Power Authority (NYPA) wants the U.S. Federal Energy Regulatory Commission (FERC) to reconsider a September order demanding that the state gird operator recalculate energy costs for the Astoria Energy II plower plant.
• The state-owned NYPA has contracted to purchase power from the plant for New York City government customers and believes that the order could cost rate payers $500 million in excess charges.
• The order was made after two plant owners alleged that the New York Independent System Operator (NYISO) was pricing the cost of the new Astoria unit too low.

From the article:

"... The U.S. Federal Energy Regulatory Commission (FERC) issued an order in September requiring the operator of the New York power grid to recalculate the cost of the new Astoria Energy II power plant in the state's power capacity market. ..."