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It’s Friday — do you know what the Federal Energy Regulatory Commission has been up to? Here’s a roundup of the latest from FERC, including, most recently, its Oct. 21 decision that helps California regulators push forward with a new renewable power feed-in tariff proposal. FERC essentially allowed the state to include “locational benefits” of renewable power projects — that is, the benefit they gave certain parts of the grid — in determining how to account for not having to build new transmission and distribution lines and other “avoided costs.” FERC is all about modernizing the accounting for next-generation power resources — for months it’s been working on a proposal to give demand response, or reducing power use, an equal market footing with generating power. It’s also working on more ways to classify energy storage systems in ways that could allow them to fit into certain niches in the grid, Chris Shelton, president of AES Energy Storage (part of international power giant AES) told me earlier today. That could include “pay-for-performance” rules that could expand energy storage beyond a mandated requirement to an asset that can be bid into existing power markets, he noted.