PJM told FERC last week it should allow a Duke Energy peaking plant to recover $9.8 million it spent on expensive natural gas it was unable to burn in January.

A FERC rule requiring PJM and other RTOs to pay demand response market clearing prices violates state ratemaking authority, a federal appeals court ruled today.

After a record-breaking winter in which it narrowly avoided load shedding, PJM says it is confident it can keep air conditioners running this summer. But forward prices suggests costs may be higher than last year.

Some generators may have taken advantage of January’s weather to boost their prices, the Market Monitor said in its quarterly State of the Market report Friday.

PJM said last week it agrees with about one-quarter of the recommendations in the Independent Market Monitor’s 2013 State of the Market report.

A summary of the recommendations from PJM’s report on the operational challenges from the winter of 2014.

PJM issued a comprehensive report on its response to the historic power demand during winter’s deep freeze, adding nine proposed recommendations for action to five initiatives already underway.

Acknowledging they were taking “a leap of faith,” stakeholders last week endorsed PJM’s plan for cutting uplift and capturing reserve costs in energy prices.

Exelon said its acquisition of Pepco is “the right deal the right time” for its investors. But some analysts aren’t convinced.

Stakeholders split last week over a PJM offer cap proposal that changes how the RTO captures the cost of deploying additional reserves during extreme weather.