Jefferies Comments On PEG Ruling

In a report regarding Public Service Enterprise Group PEG, Jefferies reports that on April 12, “FERC issued an order effectively determining that recent initiatives in New Jersey and Maryland that would allow certain generators to submit zero bids would violate PJM's minimum offer price rule (MOPR).” “FERC accepted PJM's proposed revision to eliminate the net-short requirement in its MOPR (subject to conditions), granted part of a complaint by a merchant generator group and deferred certain issues,” Jefferies writes. “The ruling was in-line with Jefferies expectations.” Public Service Enterprise Group closed Wednesday at $30.96.