Duke Energy Indiana Submits Notice of Non-Material Change in Status to Federal Energy Regulatory Commission

Strategic Insights -

Duke Energy Indiana, LLC, an indirect subsidiary of Duke Energy Corp., has submitted a notice of non-material change in status to the Federal Energy Regulatory Commission (FERC). The notice relates to Duke Indiana's authorization to make power sales at market-based rates, following the execution of a long-term power purchase agreement (PPA) with Speedway Solar LLC. The PPA requires Speedway to provide 199 Megawatts (MW) of power to Duke Indiana over a 20-year term. Despite this change, Duke Indiana asserts that it continues to satisfy the Commission's criteria for market-based rate authority and lacks both horizontal and vertical market power in the MISO market.

Key Takeaways:

  • The notice submitted by Duke Energy Indiana, LLC to FERC concerns a non-material change in status related to its market-based rate authority.
  • The change is attributed to a long-term power purchase agreement (PPA) with Speedway Solar LLC, which requires 199 MW of power to be provided over 20 years.
  • The PPA does not alter the fact that Duke Indiana continues to meet the Commission's criteria for market-based rate authority.
  • Duke Indiana asserts that it lacks both horizontal and vertical market power in the MISO market, despite the addition of Speedway PPA capacity.
  • The relevant market for horizontal market power analysis is the MISO market, which is an RTO/ISO-administered energy, ancillary services, and capacity market subject to FERC-approved RTO/ISO monitoring and mitigation.
  • Duke Indiana is relying on Commission-approved market monitoring and mitigation to address potential horizontal market power in the MISO market.
  • The company and its affiliates have not erected barriers to entry into the relevant market and will not do so.
  • The serial number for Duke Indiana's asset appendix prepared on July 29, 2025 is 34769.

Statistics:

  • 199 Megawatts (MW) of power will be provided by Speedway Solar LLC to Duke Indiana under the long-term PPA.
  • 20 years is the term of the power purchase agreement (PPA) between Duke Indiana and Speedway Solar LLC.
  • 100 MW is the threshold triggering the need for Duke Indiana to file a notice of non-material change in status to FERC.
  • 18 C.F.R. § 35.42 is the relevant Commission regulation.
  • 119 FERC P 61,295 is the order number for the Federal Energy Regulatory Commission's (FERC) Order No. 697.
  • $34769 is the serial number for Duke Indiana's asset appendix.

Sources:

  • 18 C.F.R. § 35.42 (Commission regulation)
  • 119 FERC P 61,295 (FERC Order No. 697)
  • Order No. 861, 168 FERC P 61,040 (2019), order on reh'g and clarification, 170 FERC P 61,106 (2020)
  • Duke Energy Indiana, LLC, Docket No. ER10-2034, Letter order accepting Duke Indiana's Order No. 714 Compliance Filing (issued Oct. 22, 2010)
  • Duke Energy Indiana, LLC, Docket No. ER18-490-000, Triennial Market-Power Analysis Filing (filed Dec. 20, 2023)
  • Duke Energy Indiana, LLC, Docket No. ER10-2034, Notice of Change in Status (filed July 29, 2025)
  • ITC Holdings Corp., 177 FERC P 62,109 (November 30, 2021)
  • Vanguard Group, Inc., Quarterly Filing, Docket No. EC19-57-000 (filed May 8, 2025)