Slow down the mega-merger feeding frenzy

FERC should proceed with extreme caution in approving proposed consolidations that involved generating assets. After a few yearsʹ experience with wholesale markets, FERC will be better able to gauge the geographic scope of the market relevant to a proposed consolidation, the relationship between market concentration and market performance, and the firm-level economies of scale available in generation. Until that time, it should proceed with great caution.