PJM declared GreenHat Energy, LLC in payment default on June 21, 2018. The FTR portfolio on which GreenHat defaulted includes positions for the current planning year and the subsequent two planning years.
PJM filed a waiver request at FERC on July 26, 2018 asking that PJM only be required to attempt to liquidate FTR positions for one month forward in any of the FTR auctions to be conducted in July 2018 through October 2018. This waiver is intended to allow PJM time to talk with the members, and file any changes to the current FTR liquidation process, if the members wish to do so after PJM and stakeholder discussion.