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On December 21, 2020, FERC either set aside in part or modified its previous cost-of-service compensation decision allowing Constellation Mystic Power, LLC (“Mystic”) to continue operating two gas-fired generation facilities (“Mystic 8 and 9”) fueled exclusively by an affiliate, Everett Marine Terminal (“Everett”), which, like Mystic, is owned by Exelon Generation Company, LLC (“Exelon”). Commissioner Richard Glick dissented, reiterating his belief that FERC has exceeded its jurisdiction to “bail out” the liquified natural gas (“LNG”) import terminal.
Originally, Mystic proposed to retire its generation units in 2018, but ISO New England Inc. (“ISO-NE”) determined Mystic’s capacity was required to avoid reliability risks during its 2022-2023 and 2023-2024 capacity commitment periods. ISO-NE also determined the retirements threatened the financial viability of the Everett LNG station, whic