On February 16, 2020, NEPGA filed an answer to ISO-NE’s answer to NEPGA’s protest of ISO-NE’s proposed Net CONE value for effect beginning in FCA 16 (No. ER21-787). On December 31, 2020, ISO-NE filed its Net CONE proposal with FERC. On January 21, NEPGA protested the proposal though a 50-page protest supported by affidavits challenging the energy margin forecast and gas delivery costs underlying the Net CONE value proposed by ISO-NE, among other issues. ISO-NE answered NEPGA’s protest on February 11, 22 days after NEPGA’s Protest. NEPGA filed a brief answer on Wednesday, noting NEPGA’s objection to several ISO-NE argument, but answering in full only ISO-NE’s assertion that the Reference Unit upon which the Net CONE value is based may reflect the costs of a unit in different locations (i.e., not held to a single location). NEPGA limited its answer to this issue given that little time remains for FERC to consider the various arguments and issue a decision. With ISO-NE making its initial filing under FPA Section 205, FERC must issue a decision by March 1 (for the proposed Net CONE value to not take effect by operation of law).