CAISO’s Board of Governors and WEIM Governing Body unanimously voted to approve an expedited proposal to increase the ISO’s soft offer cap from $1,000/MWh to $2,000.

CAISO revamped its policy initiatives roadmap to reflect its to top strategic goals including ensuring resource adequacy and expanding its Western market role.

The PJM Market Implementation Committee narrowly rejected a proposed issue charge from curtailment service provider CPower Energy Management.

FERC clarified that its order on remand partially reversing PJM’s proposed energy price formation revisions did not remove the RTO’s reserve price caps.

FERC approved PJM’s proposed energy price formation revisions, agreeing with the RTO that its reserve market was not functioning as intended.

PJM told the MIC it will not file waivers for upcoming capacity auction deadlines and will rely on FERC to issue an order on its MOPR.

PJM’s Market Monitor said the RTO’s updated simulation results for energy price formation underestimate the impact of its operating reserve demand curve.

PJM filed its energy price formation proposal with FERC after a yearlong discussion with stakeholders produced no consensus.

American Municipal Power said that PJM’s rush to file its energy price formation proposal with FERC leaves the door open for design flaws.

The PJM Board of Managers agreed to submit staff’s revised energy price formation proposal for FERC approval, CEO Andy Ott said.