The early-September heat wave that hit the West sent wholesale power prices across the region skyrocketing, and market participants and others are now arguing before federal regulators over whether the prices were justified.

After the heat wave, about a dozen power sellers submitted "justification filings" to FERC, asking for clearance for sales made during the heat wave above a $1,000/MWh Western Electricity Coordinating Council soft price cap. They argue that energy scarcity and robust market conditions during the event justify the prices.

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