On February 17, the Federal Energy Regulatory Commission (FERC or the Commission) issued a Notice of Proposed Rulemaking to ensure just and reasonable compensation for the procurement of frequency regulation service in the Regional Transmission Organization (RTO) and Independent System Operator (ISO) organized wholesale electric markets. The Commission preliminarily found that, within the RTO and ISO markets, frequency regulation service for faster-ramping resources have been compensated at the same rate as frequency regulation service for slower-ramping resources, and as such, the current compensation practices for these services may result in unjust, unreasonable, and unduly discriminatory service compensation.