PJM Market Implementation Committee (MIC)
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PJM's Adam Keech told the Market Implementation Committee the RTO plans to file governing document revisions with FERC to expand the requirement that resources must offer into the capacity market to also apply to all resources holding capacity interconnection rights.
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PJM presented an issue charge focused on the potential for compensation for generators providing black start service to fall to zero a decline in net cost of new entry values in the 2025/26 Base Residual Auction.
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PJM has proposed changes to the demand response availability window, which determines when the curtailment capability is evaluated as accredited capacity and expected to be online for dispatch.
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The Market Implementation Committee rejected a PJM issue charge that envisioned adding notice that Base Residual Auction rules are subject to change, with two-thirds of stakeholders opposed.
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A PJM discussion on expanding the demand response winter availability window to include a wider range of hours branched off into a broader conversation on how the resource class participates in the RTO's capacity market.
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PJM presented how the planning parameters for the 2026/27 Base Residual Auction affected the variable resource rate curve, which intersects with supply and demand to determine auction clearing prices.
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The PJM Markets and Reliability Committee voted to eliminate energy efficiency from the capacity construct, adopting a proposal from the Monitor.
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PJM has decided not to refile several components of its proposed capacity market redesign that was rejected by FERC in February.
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The Market Implementation Committee endorsed a PJM proposal to revise how the capacity offered by energy efficiency resources is measured and verified, rejecting competing proposals from EE providers and the Monitor.
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PJM’s Market Implementation Committee endorsed by acclamation a proposal to revise two financial inputs to the quadrennial review to reflect changing market conditions, particularly increased interest rates.
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