Pennsylvania Gov. Josh Shapiro urged PJM Chair Mark Takahashi to “intervene with” RTO leadership to revise the design of the capacity market before conducting the 2026/27 BRA to avoid an “unacceptable” increase in capacity market prices.

Pennsylvania Gov. Josh Shapiro filed a complaint with FERC on behalf of the state asking the commission to revise how the maximum clearing price in PJM's capacity auction is determined.

Several state consumer advocates filed a complaint at FERC alleging PJM’s capacity market is failing to mitigate market power, overestimating future load and producing high clearing prices that generation owners cannot act on. 

Panels during the OPSI Annual Meeting discussed the 2025/26 capacity auction yielding an eightfold jump in prices, as well as possible changes to the subsequent auction.

The second leg of the Independent Market Monitor's analysis on PJM's 2025/26 Base Residual Auction looked at the impact of not counting reliability-must-run resources as capacity, paired with several other factors.

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.

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.

Consumers and electric distributors in PJM opposed a proposal to revise two financial parameters used to calculate the cost of new entry input to the 2027/28 Base Residual Auction.