Summaries of the agenda items for the Federal Energy Regulatory Commission's monthly open meeting to be held on February 19, 2026, pursuant to the sunshine notice released on February 12, 2026.
Electric
E-1 - Constellation Energy Corporation, Constellation Energy Generation, LLC and Calpine Corporation (Docket No. EC25-43-001). On January 24, 2025, Constellation Energy Corporation (Constellation), Constellation Energy Generation, LLC (Constellation Energy) (and collectively, the Constellation Applicants), and Calpine Corporation (Calpine) submitted an application for authorization, pursuant to Sections 203(a)(1) and 203(a)(2) of the Federal Power Act (FPA), for the transaction by which the Constellation Applicants will acquire the public utility subsidiaries of Calpine. The application furnished information regarding the existing geographic footprint of the generation fleet for each of the applicants, and committed to a mitigation plan to divest certain combined cycle natural gas plants located in the eastern portion of the PJM Interconnection, L.L.C. (PJM) market, in order to preemptively address any competitive concerns that the Commission may raise. If authorized, following the transaction, the Calpine public utilities will become subsidiaries of the Constellation Applicants. A number of stakeholders and interested parties submitted comments, protests, and interventions in the ensuing period. In a protest filed on March 24, 2025, the Pennsylvania Office of Consumer Advocate (Pennsylvania OCA) stated that the application did not sufficiently meet the burden of proof in demonstrating that the proposed transaction would not negatively affect competition, rates, or regulation, particularly with respect to the retail electricity market in Pennsylvania, which was already characterized as "moderately concentrated" by the Herfindahl-Hirschman Index. On March 25, 2025, the Independent Market Monitor for PJM (Market Monitor) submitted comments that did not indicate opposition to the transaction, as long as authorization would be conditioned on certain behavioral commitments in order to accommodate PJM energy and capacity market rules (i.e., potential withholding of capacity market offers and co-located load). On March 27, 2025, the Commission issued a deficiency letter to the applicants, requesting additional information on the identification of all energy subsidiaries and affiliates, in accordance with FPA Section 203 application requirements, as well as documentation to support the data in the horizontal Competitive Analysis furnished in the application. On April 28, 2025, the applicants filed a response to the deficiency letter in order to provide the requested information. On June 12, 2025, the applicants submitted supplemental information based on the recent order from the US Department of Energy (DOE) which directed PJM to take all measures necessary to ensure that certain units, Eddystone Units 3 and 4, would remain in operation during the study period of December 2025 through November 2026. As such, the applicants prepared a supplemental delivered price test analysis under such a scenario and found that the transaction would not raise competitive concerns in the PJM market even if both units were operational throughout the entire study period, if compelled by DOE to do so. On July 3, 2025, the applicants and the Market Monitor submitted a settlement agreement purporting to resolve all material issues raised by the Market Monitor, with the exception of one "significant" exception. The settlement agreement would incorporate behavioral requirements, such as governing how generation facilities in the PJM market are offered through the 2035/36 PJM delivery year. On July 23, 2025, the Commission issued an order conditionally authorizing the merger and disposition of jurisdictional facilities, subject to commitments to divest certain units and to extend certain preexisting commitments, including the settlement between the applicants and the Market Monitor. On August 22, 2025, Pennsylvania OCA and Public Citizen, et al. filed respective requests for rehearing of the July 23 order, generally alleging that the Commission failed to evaluate the transaction in a market-specific manner by improperly assessing if there could be an incentive for Constellation to withdraw supply from the wholesale markets in PJM and potentially sell power directly to data centers and other industrial large load customers. Agenda item E-1 may be an order on the rehearing requests.
E-2 - Western Electricity Coordinating Council (Docket No. EL10-56-000). On July 15, 2025, the Commission instituted a show cause proceeding, pursuant to Section 206 of the FPA, in order to investigate whether the Commission should eliminate the $1,000/MWh soft price cap for spot market energy sales in the Western Electricity Coordinating Council (WECC). Under that framework, any prices that exceed the soft price cap are subject to cost justification and refund. The Commission initiated this proceeding in response to an opinion issued by the US Court of Appeals for the District of Columbia Circuit (D.C. Circuit) on July 9, 2024, which stated that the Commission must conduct a Mobile-Sierra public interest analysis prior to requiring refunds for sales that exceed the WECC soft price cap. In July of 2002, the Commission originally instituted a $250/MWh offer cap following the 2000-2001 Western Energy Crisis to bolster mitigation measures and incentivize new generation while safeguarding from potential market power abuse. A number of entities filed motions to intervene and comments, generally in support of eliminating the prior soft price cap framework as it was no longer just and reasonable. On August 14, 2025, the California Independent System Operator Corporation (CAISO) filed comments recommending that the Commission provide for an additional process to develop the formal record prior to making a determination on this matter. Certain parties, including Tenaska Power Services Co. in comments filed on August 14, 2025, indicated that recent instances exceeding the soft price cap were due to market conditions and voluntary, bilateral agreements. Agenda item E-2 may be an order on the FPA section 206 investigation.
E-3 - Stay Ready Solar 1 Inc., Stay Ready Solar 2 Inc. and Stay Ready Solar 3 Inc. v. Entergy New Orleans, Inc. (Docket No. EL26-25-000). On November 13, 2025, the above-captioned complainants (collectively, Stay Ready Solar) filed a complaint, pursuant to Section 206 of the FPA, against Entergy New Orleans, Inc. (Entergy), seeking interconnection service for facilities that will inject energy for resale into the Entergy distribution system, including the exercise of certain interconnection rights such as Option-to-Build. Stay Ready Solar stated that, following submission of a preliminary design and surveys to Entergy, only the construction of interconnection facilities would be allowed, and no other system upgrades would be permitted. On December 3, 2025, Entergy filed an answer to the complaint, contending that Stay Ready Solar did not carry their burden of demonstrating that any action undertaken by Entergy had been unjust, unreasonable, or unduly discriminatory, and that the only matter under Commission authority in this matter would be the completion of the System Impact Study. Agenda item E-3 may be an order on the complaint.
E-4 - Branch Street Solar Partners, LLC; Picture Rocks Solar, LLC; Sol Orchard San Diego 21, LLC; Sol Orchard San Diego 22, LLC; Sol Orchard San Diego 23, LLC; Sol Orchard San Diego 20, LLC; and Klamath Falls Solar 2, LLC (Docket Nos. QF19-881-005, QF13-22-005, QF13-653-005, QF13-654-005, QF13-655-005, QF13-656-005, QF15-719-006). On June 26, 2025, the Commission issued an order rejecting the respective refund reports submitted by the above-captioned entities (collectively, the Facilities). The Facilities were previously certificated as Qualifying Facilities (QFs), but following an acquisition consummated in 2019 and 2020, the Facilities were not recertified due to an oversight. In the ensuing period, the Commission issued a separate order in 2022, stating that "recertification [of a QF] is required when the material change is made," therefore subjecting QFs that had lapsed to a potential loss of QF status. In the June 2025 order, the Commission sought to calculate interest on the revenue received by Facilities during the lapse of recertification. On July 28, 2025, the Facilities filed a request for rehearing and clarification of the June 2025 order, asserting that the Commission did not have authority to issue a regulation that would revoke QF status due to a lapse and that imposition of a time value refund in this instance would be punitive rather than a remedy. Agenda item E-4 may be an order on the rehearing request.
E-5 - Great Bend Solar, LLC (Docket Nos. ER26-698-000, TS26-2-000). On December 4, 2025, Great Bend Solar, LLC (Great Bend) submitted a request for waiver of requirements associated with the Commission's open access transmission tariff (OATT), open access same-time information system (OASIS), and Standards of Conduct requirements. Great Bend stated that there is likely to be a limited period it will continue to own certain Interconnected Transmission Owner Attachment Facilities and Direct Connection Network Upgrades (collectively, the TOIF) and certain limited and discrete Customer Interconnection Facilities (CIF) after the TOIF are transferred to AEP Ohio Transmission Company, Inc. (AEP). The solar generating facility will be interconnected with the transmission system owned and operated by AEP within the PJM balancing authority area. In the request, Great Bend expected that the TOIF will be energized and operational on approximately December 8, 2025, and subsequently, will be transferred to AEP; Great Bend will retain ownership of the CIF beyond that date. Agenda item E-5 may be an order on the waiver request.
E-6 - North American Electric Reliability Corporation (Docket Nos. RD26-1-000, RD26-2-000, RD26-3-000). On November 4, 2025, the North American Electric Reliability Corporation (NERC) filed three petitions for approval of revised Reliability Standards to address the modeling of inverter-based resources (IBRs) and other system stability issues. The proposed Reliability Standards are responsive to the Commission's directives furnished in Order No. 901 on October 19, 2023, which instructed NERC to develop comprehensive IBR-related reliability standards over a three-year period. In Docket No. RD26-1-000, NERC proposed revisions to MOD-032-2 (Data for Power System Modeling and Analysis), IRO-010-6 (Reliability Coordinator Data Specification and Collection), and TOP-003-8 (Operational Reliability Data). In Docket No. RD26-2-000, NERC submitted proposed Reliability Standard MOD-033-3 (Steady-State and Dynamic System Model Validation), which establishes a comprehensive process for validating system models against actual system behavior. In Docket No. RD26-3-000, NERC requested approval of MOD-026-2 (Verification and Validation of Dynamic Models and Data), which clarifies model verification requirements for generators and transmission owners. Agenda item E-6 may be an order approving the proposed Reliability Standards.
E-7 - Macquarie Energy LLC (Docket No. ER21-64-002). The sub-docket has not yet been populated in eLibrary. Agenda items E-7 through E-10 may relate to the respective filings and subsequent orders on the justification of spot sales exceeding the Western Electric Coordinating Council (WECC) soft cap of $1,000/MWh, pursuant to a July 6, 2021 notice issued by the Commission. Ultimately, the Commission found that the sellers had not justified amounts charged above the index price. The most recent activity in the docket indicated that a Petition for Review had been filed at the US Court of Appeals for the District of Columbia Circuit (D.C. Circuit) under Case No. 23-1101. In tandem with agenda item E-2, agenda items E-7 through E-10 may be an order responsive to the opinion issued by the D.C. Circuit on July 9, 2024, which stated that the Commission must conduct a Mobile-Sierra public interest analysis prior to requiring refunds for sales that exceed the WECC soft price cap.
E-8 - Macquarie Energy LLC (Docket No. ER21-2649-002). The sub-docket has not yet been populated in eLibrary. Agenda items E-7 through E-10 may relate to the respective filings and subsequent orders on the justification of spot sales exceeding the Western Electric Coordinating Council (WECC) soft cap of $1,000/MWh, pursuant to a July 6, 2021 notice issued by the Commission. Ultimately, the Commission found that the sellers had not justified amounts charged above the index price. The most recent activity in the docket indicated that a Petition for Review had been filed at the US Court of Appeals for the District of Columbia Circuit (D.C. Circuit) under Case No. 23-1101. In tandem with agenda item E-2, agenda items E-7 through E-10 may be an order responsive to the opinion issued by the D.C. Circuit on July 9, 2024, which stated that the Commission must conduct a Mobile-Sierra public interest analysis prior to requiring refunds for sales that exceed the WECC soft price cap.
E-9 - Tenaska Power Services Co. (Docket No. ER21-2459-002). The sub-docket has not yet been populated in eLibrary. Agenda items E-7 through E-10 may relate to the respective filings and subsequent orders on the justification of spot sales exceeding the Western Electric Coordinating Council (WECC) soft cap of $1,000/MWh, pursuant to a July 6, 2021 notice issued by the Commission. Ultimately, the Commission found that the sellers had not justified amounts charged above the index price. The most recent activity in the docket indicated that a Petition for Review had been filed at the US Court of Appeals for the District of Columbia Circuit (D.C. Circuit) under Case No. 23-1101. In tandem with agenda item E-2, agenda items E-7 through E-10 may be an order responsive to the opinion issued by the D.C. Circuit on July 9, 2024, which stated that the Commission must conduct a Mobile-Sierra public interest analysis prior to requiring refunds for sales that exceed the WECC soft price cap.
E-10 - Shell Energy North America (US), L.P. (Docket No. ER21-2382-002). The sub-docket has not yet been populated in eLibrary. Agenda items E-7 through E-10 may relate to the respective filings and subsequent orders on the justification of spot sales exceeding the Western Electric Coordinating Council (WECC) soft cap of $1,000/MWh, pursuant to a July 6, 2021 notice issued by the Commission. Ultimately, the Commission found that the sellers had not justified amounts charged above the index price. The most recent activity in the docket indicated that a Petition for Review had been filed at the US Court of Appeals for the District of Columbia Circuit (D.C. Circuit) under Case No. 23-1101. In tandem with agenda item E-2, agenda items E-7 through E-10 may be an order responsive to the opinion issued by the D.C. Circuit on July 9, 2024, which stated that the Commission must conduct a Mobile-Sierra public interest analysis prior to requiring refunds for sales that exceed the WECC soft price cap.
Gas
G-1 – Oil Pipeline Affiliate Committed Service (Docket No. PL23-1-000). On December 16, 2022, the Commission issued a Proposed Policy Statement seeking to revise its policy for evaluating "committed" service on oil pipelines. Specifically, the proposal would address instances where capacity is awarded to an affiliate following an open season. If effectuated, the policy would implement a rebuttable presumption that such affiliate contracts are unduly discriminatory unless the pipeline can demonstrate that the open season was truly competitive or provides additional cost-of-service justification. A number of industry stakeholders and interested parties filed comments, with shippers largely supporting the heightened scrutiny. Natural gas pipeline companies generally argued the policy would chill investment in new infrastructure. Agenda item G-1 may be the issuance of a Policy Statement.
G-2 – Baltimore Gas and Electric Company v. Transcontinental Gas Pipe Line Company, LLC (Docket No. RP25-1189-000). On September 15, 2025, Baltimore Gas and Electric Company (BGE) filed a formal complaint against Transcontinental Gas Pipe Line Company, LLC (Transco), pursuant to Section 5 of the Natural Gas Act (NGA). In the complaint, BGE alleged that Transco improperly assessed unauthorized overrun penalties and penalties for non-compliance with Operational Flow Orders (OFOs) during the extreme winter weather of early 2025. BGE argued that Transco's notice for the OFOs was technically deficient under Section 52 of its General Terms and Conditions and that the penalties were applied in a discriminatory manner compared to other similarly situated shippers. Transco submitted its answer on October 15, 2025, asserting that the OFOs were necessary to maintain system integrity. Agenda item G-2 may be an order on the complaint.
G-3 – Jay-Bee Production Company v. Texas Gas Transmission, LLC (Docket No. RP25-966-000). On June 24, 2025, Jay-Bee Production Company (Jay-Bee) filed a complaint against Texas Gas Transmission, LLC (Texas Gas), pursuant to Section 5 of the NGA. Jay-Bee alleged that Texas Gas violated its tariff and the Commission's "open access" requirements by improperly curtailing Jay-Bee's firm transportation service while continuing to serve other interruptible shippers. On July 23, 2025, the Kentucky Attorney General's Office of Rate Intervention filed comments in order to raise concerns about the impact of such curtailment practices on regional supply reliability. Agenda item G-3 may be an order on the complaint.
Hydro
H-1 - Categorical Exclusion under the National Environmental Policy Act for Certain Terminations or Revocations of Water Power Licenses or Exemptions (Docket No. RM26-7-000). The formal record in Docket No. RM26-7-000 has not yet been populated. Agenda item H-1 may be an action that is being taken sua sponte by the Commission with respect to a new rulemaking proceeding relating to the Categorical Exclusion under the National Environmental Policy Act for Certain Terminations or Revocations of Water Power Licenses or Exemptions.
H-2 – Order Adopting Categorical Exclusions from Tennessee Valley Authority under the National Environmental Policy Act (Docket No. CX26-1-000). On January 14, 2026, the Tennessee Valley Authority (TVA) published a notice in the Federal Register adopting three new categorical exclusions (CEs) from the Department of Energy to streamline its environmental reviews for certain renewable energy and transmission projects. This action follows the Fiscal Responsibility Act of 2023, which amended NEPA (Section 109) to allow federal agencies to adopt the CEs of other agencies. Agenda item H-2 may be an order formally adopting these same categorical exclusions for use by the Commission in its own proceedings involving TVA infrastructure.
H-3 – Jeffersonville Hydroelectric Co. (Docket No. P-6055-008). On January 3, 2023, Jeffersonville Hydroelectric Co. (Jeffersonville) filed an application to surrender its exemption for the Lake Jefferson Project, citing adverse project economics. Jeffersonville supplemented the application in May and August 2023, respectively. Agenda item H-3 may be an order accepting the surrender of the exemption.
H-4 – Triton Power Company (Docket No. P-5698-025). On July 31, 2025, Triton Power Company (Triton) filed a final license application in order to relicense the Chateaugay High Falls Hydroelectric Project in New York. The original license term had been granted by the Commission for a 40-year term, scheduled to expire on December 31, 2025. On October 7, 2025, Commission staff issued a letter rejecting the application for failing to cure significant deficiencies and for being filed after the statutory deadline. On November 6, 2025, Triton submitted a request for clarification, or in the alternative, rehearing of the October 7 letter order, contending that the license issues originated from previous ownership, and that new ownership is committed to license compliance and obtaining a new license for the project for its continued operation and maintenance. In addition to submitting monthly progress reports following the clarification or rehearing request, Triton filed a proposed plan and schedule for the surrender of the license, if the Commission were to ultimately uphold its determination in the October 7 letter order. Agenda item H-4 may be an order on the clarification or rehearing request.
Certificates
C-1 – National Fuel Gas Supply Corporation (Docket No. CP25-495-000). On May 20, 2025, National Fuel Gas Supply Corporation (National Fuel) filed an application for a certificate of public convenience and necessity (CPCN) for its Beech Hill Boundary Modification Project located in Allegany County, New York. The project would seek to modify the certificated boundary of the Beech Hill Storage Complex to include approximately 130 additional acres of buffer area, ensuring the long-term integrity of the storage reservoir. Additionally, National Fuel proposed to convert an existing observation well into an active injection and withdrawal well to enhance operational flexibility. On June 26, 2025, the New York State Department of Environmental Conservation filed comments regarding potential interactions with local aquifers. On June 26, 2025, the Commission issued the Environmental Assessment for the CPCN application, finding that no adverse impact to the environment is anticipated given that National Fuel had not proposed any construction or other activities that may result in disturbances. In the ensuing months, the Commission issued two supplemental information requests to assist in the evaluation of the application; National Fuel submitted its responses on August 29, 2025 and January 29, 2026, respectively. Agenda item C-1 may be an order on the CPCN application.
C-2 – Removal of Regulations Limiting Authorizations to Proceed with Construction Activities Pending Rehearing (Docket No. RM25-9-001). On October 7, 2025, the Commission issued Order No. 904, a Final Rule that eliminated a regulation (18 C.F.R. § 157.23) which automatically stayed the issuance of authorizations to proceed with construction while a request for rehearing was pending. On November 6, 2025, the Interstate Natural Gas Association of America (INGAA) and several environmental petitioners filed requests for rehearing and clarification. The petitioners are seeking specific guidance on the definition of "construction activities" permitted during the 30-day rehearing window and whether the removal of the stay applies retroactively to pending certificates. Agenda item C-2 may be an order on rehearing providing the requested clarifications to Order No. 904.
White & Case means the international legal practice comprising White & Case LLP, a New York State registered limited liability partnership, White & Case LLP, a limited liability partnership incorporated under English law and all other affiliated partnerships, companies and entities.
This article is prepared for the general information of interested persons. It is not, and does not attempt to be, comprehensive in nature. Due to the general nature of its content, it should not be regarded as legal advice.
© 2026 White & Case LLP
