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.

Stakeholders filed comments debating PJM’s request that FERC direct it to recalculate the results of the 2024/25 Base Residual Auction and rerun the third Incremental Auction.

PJM updated stakeholders on how it will proceed in the wake of a 3rd Circuit ruling vacating a FERC order allowing the RTO to revise a parameter after bids had been received for the 2024/25 Base Residual Auction.

PJM capacity prices dropped in much of the RTO for delivery year 2024/25, but ratepayers in five regions will face increases due to locational constraints.

FERC approved PJM’s request to revise its capacity rules to avoid a fourfold price increase in DPL South, rejecting complaints of retroactive ratemaking.

PJM's first order of business in 2023 will be a review of the “indicative” 2024/25 capacity auction results following concerns of artificially inflated prices.

PJM said it will ask FERC to modify the rules of its 2024/25 capacity auction to avoid artificially high prices in one region of the RTO.