Order 917: What Changed Now And What Is Still Pending
FERC’s current Order 917 implementation guidance separates requirements that already apply from the future filing-system transition:
- Active for Q2 2026: Filers no longer had to report transmission-capacity reassignments in Field 30 or exchange/brokerage use in Field 54, and could report “N - No” for index-price-publisher reporting in Field 13.
- Billing adjustments: Material billing adjustments should be reflected through an EQR refiling instead of the former BA-Billing Adjustment option in Field 59.
- Current calendar: The Q2 2026 EQR deadline remained July 31. Q3 remains due October 31, Q4 January 31, and Q1 April 30.
- Future system: FERC has not set the XBRL-CSV deployment date. Draft taxonomies, templates, technical guidance, sample files, technical conferences, software development, and testing come first.
- Future RTO/ISO reports: Grid operators will prepare participant transaction reports after the new system is implemented; that requirement is not yet deployed.
For suppliers, brokers, utilities, and other EQR filers, the practical step is to separate current Q2 reporting treatment from future system-development work. The regulatory change can improve reporting consistency over time, but it does not by itself establish a commercial customer’s electricity price, supplier margin, transmission charge, or savings.
New Reliability Standards: Virtualization & CIP-003-11
- Virtualization Reliability Standards (RM24-8-000): New standards address the growing use of virtual machines, containers, and cloud infrastructure in grid operations. As utilities and ISOs migrate SCADA and EMS systems to virtualized environments, FERC is establishing baseline security and availability requirements.
- CIP-003-11 — Cyber Security Management Controls (RM25-8-000): Updates to the Critical Infrastructure Protection standard tighten security management controls for low-impact BES Cyber Systems, closing gaps identified in post-incident reviews.
These standards affect utility IT spending and operational procedures but do not directly impact commercial electricity pricing. However, compliance costs are typically recovered through distribution and transmission rates.
New England ROE: 9.57% Base Rate
FERC resolved a multi-year dispute over the allowed return on equity for New England Transmission Owners (NETOs):
- 9.57% base ROE: The commission granted one complaint and denied three others, setting the base ROE at 9.57%. This is the return transmission owners earn on their regulated asset base.
- Transmission cost impact: The ROE directly determines the revenue requirement for New England transmission infrastructure. A lower ROE reduces the transmission component of commercial electricity bills; a higher ROE increases it.
- Precedent: This ruling follows FERC’s updated ROE methodology (DCF + risk premium blending), which is being closely watched by transmission owners in PJM and MISO as their own ROE proceedings advance.
For ISO-NE commercial buyers, the 9.57% base ROE means transmission charges on your bill reflect this authorized return. Any future capacity investment by NETOs (e.g., for the DASI-related upgrades) will be cost-recovered at this rate.
Rio Grande LNG Trains 4 & 5 Approved
- 12 MTPA additional capacity: NextDecade’s Rio Grande facility in Brownsville, Texas gains approval to construct two additional liquefaction trains.
- Gas demand impact: Each LNG train consumes approximately 1 Bcf/d of natural gas feedstock. Two additional trains add ~2 Bcf/d of structural domestic gas demand.
- Price transmission: For commercial buyers with gas-indexed electricity contracts, structural LNG export growth supports a higher floor under domestic gas prices. The EIA currently projects Henry Hub at $3.76/MMBtu for 2026.
Rockies Express Pipeline: Decatur Lateral
FERC also certified the Rockies Express Pipeline Decatur Lateral Project in Illinois, which adds 30.75 Bcf of working gas storage capacity and increases injection/withdrawal rates. For MISO Midwest users, this improves local gas supply reliability and can moderate winter basis differentials.
Source trail: FERC Order No. 917 implementation guidance, July 20 rehearing order in Docket RM23-9, March 19, 2026 Commission meeting orders, and the official EQR program page.