Discussion about potential changes to the NYISO demand curve reset process dominated a recent Installed Capacity Working Group meeting and will likely take up more oxygen in stakeholder meetings throughout the coming year.

The PJM Board of Managers has directed staff to proceed with a Quadrennial Review design that reworks the capacity auction price curve and sets the reference resource as a combustion turbine for all zones.

Inflation and higher borrowing costs pushed MISO’s cost of new entry up by about 5% heading into the 2026/27 planning year, but stakeholders are questioning MISO’s use of 2020 data in calculations in order to keep prices lower.

The PJM Market Implementation Committee voted to endorse two packages of revisions to key parameters of the capacity market out of six offered by PJM and stakeholders that resulted from the Quadrennial Review.

Key challenges in the review are tightening supply and demand, the uncertain cost of new capacity and accounting for changes PJM has made to how it identifies reliability risks and determines the capacity value for different resource types.

The PJM Markets and Reliability Committee endorsed a proposal to rework how resources are compensated for providing black start service the RTO says will provide more predictable revenues for participating market sellers.

NYISO presented the Installed Capacity Working Group with its priorities for the Capacity Market Structure Review, with improving the demand curve reset process and methodology topping the list.

The Markets and Reliability Committee endorsed PJM's recommended installed reserve margin and forecast pool requirement values for the 2026/27 Base Residual Auction.

The PJM Market Implementation Committee endorsed a proposal to revise the base formula rate for compensating black start resources.