Capacity prices dropped by one-third to almost one-half in PJM’s auction for 2023/24, likely depressed by the end of the MOPR and a tougher price cap.

FERC accepted PJM’s compliance filing restoring the historical energy and ancillary services revenue offset used in the RTO’s capacity market.

PJM stakeholders in the RTO’s generator sector voiced frustration with FERC over recent decisions related to the capacity market to the Ohio Senate.

The results of PJM’s 2022/23 Base Residual Auction were not competitive, according to a report released last week by the RTO’s Independent Market Monitor.

FERC approved PJM's revised schedule for the upcoming Base Residual Auctions, incremental auctions and the associated pre-auction deadlines.

FERC ordered PJM to remove the 10% cost adder for the reference resource used to establish the VRR curve in the RTO’s capacity market.

PJM staff told stakeholders they were seeking to move the upcoming BRA originally scheduled for later this month to the end of June to comply with FERC.

PJM's year was punctuated by changes in the capacity market as votes by stakeholders led to the implementation of the RTO’s narrowed MOPR.

PJM's upcoming 2023/24 BRA is set to be delayed again after FERC partially reversed its 2020 decision on the RTO’s energy price formation revisions.

FERC approved PJM's request to delay the Base Residual Auction for the 2023/24 delivery year from Dec. 1 to Jan. 25, 2022.