FERC has rejected a PJM proposal to rework the role of performance penalties in its capacity market and how the associated risks can be reflected in seller offers.

FERC approved PJM's proposal to rework several areas of its capacity market centered around aligning how resources’ capacity contributions match up to system risk analysis.

The Market Implementation Committee discussed PJM's analysis of how proposed Critical Issue Fast Path filings before FERC might have impacted the 2024/25 Base Residual Auction results.

PJM and stakeholders spent much of 2023 debating how to position the RTO's markets to be prepared for future severe weather and maintain the balance between retiring fossil generation and renewable development.

PJM’s MIC heard updates on capacity market proposals pending before FERC and began a review of how energy efficiency resources participate in the market.

PJM stated that FERC's approval of a six-day extension of the comment period in its CIFP filings would not affect the feasibility of having market changes implemented for the 2025/26 capacity auction slated for June 2024.

Comments are due Nov. 3 on PJM’s proposal, which it said would improve reliability and incentivize resource development while controlling costs.