Below is a summary of the issues scheduled to be brought to a vote at the PJM Markets and Reliability and Members committees on Wednesday. Each item is listed by agenda number, description and projected time of discussion, followed by a summary of the issue and links to prior coverage in RTO Insider.
Markets and Reliability Committee
Consent Agenda (9:05-9:10)
B. Members will be asked to endorse revisions to Manual 6: Financial Transmission Rights as part of a periodic review and changes to conform with tariff revisions intended to increase transparency into and the efficiency of the RTO’s auction revenue rights and financial transmission rights markets. The changes were approved by FERC in March (ER22-797). (See FERC Accepts PJM ARR/FTR Market Changes.)
Endorsements (9:10-10:15)
1. Variable Environmental Costs and Credits (9:10-9:35)
The MRC will be asked to approve a proposed update to rules governing variable environmental charges and credits and their inclusion in cost-based energy offers. Generation units receiving production tax credits or renewable energy credits must reflect them in their fuel-cost policies when submitting non-zero cost-based offers into the energy market. The changes will include revisions to Manual 15: Cost Development Guidelines and Operating Agreement Schedule 2. (See “Variable Environmental Costs and Credits,” PJM MIC Briefs: May 11, 2022.)
Issue Tracking: Variable Environmental Costs and Credits
2. 2022 Quadrennial Review (9:35-10:15)
The MRC will cast advisory votes on four alternative sets of capacity auction parameters as part of its 2022 Quadrennial Review. Members will be asked to select one of the packages from PJM, the Independent Market Monitor, Calpine and Cogentrix for a recommendation to the Board of Managers consideration. (See “2022 Quadrennial Review,” PJM MRC/MC Briefs: July 27, 2022.)
Issue Tracking: 2022 Quadrennial Review
Special Members Committee — Quadrennial Review
Endorsements (1:25-2:15)
1. 2022 Quadrennial Review (1:25-2:15)
The MC also will take advisory votes on the proposed Quadrennial Review packages. (See MRC item 2.)
