Investment Grade Utilities: Utilities and Power Weekly

Research evidence excerpt

Investment Grade Utilities: Utilities and Power Weekly

Top Headlines, week ending June 18

FERC moves to accelerate large load tariff reform

Our equity team highlights that at its June meeting FERC initiated six S.206 proceedings

to accelerate large-load tariff reform across all organized regional transmission markets.

Each ISO/RTO must respond within 60 days, submit a resource adequacy informational

report within 30 days, and may seek up to a 90-day abeyance if it is pursuing

stakeholder-driven Section 205 tariff changes. The requests are broadly consistent, but

FERC tailored the orders to each region's starting point. Overall, the message is that

FERC expects timely action but wants the ISOs/RTOs, transmission owners, states, and

stakeholders to help shape practical solutions rather than rely solely on FERC-imposed

outcomes. These orders should create a clearer, more consistent framework for data

centers and other large load growth. It views these actions as constructive for markets,

RTO/ISOs, and the power sector. It believes that that FERC is creating a clear sense of

urgency and providing the regulatory impetus needed to modernize large-load

interconnection, transmission-service, and cost-allocation rules. This is likely to enable

economic development while addressing different stakeholders concerns. See the report,

North American Power & Utilities: Watt’s happening at FERC? 22 June 2026.

FERC pushes PJM toward clearer large-load framework

Our equity team further highlights how the FERC order pushes PJM towards clearer rules

for co-located load, BTMG, and large-load transmission access. The order emphasizes

urgency, requiring PJM to advance new service options and justify any implementation

delay.