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

PJM dropped its plan to clarify pseudo-tie eligibility after stakeholders argued some of the revisions conflicted with pending litigation.

PJM’s Monitor said recently approved maintenance adders to the synchronized reserve calculation allow resources to increase offers above competitive levels.

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

PJM stakeholders appeared resigned to a unilateral FERC filing by the Board of Managers revising the RTO’s proposed price formation rules.

PJM’s Board of Managers signaled it is done waiting for stakeholders to make progress on a nearly yearlong initiative to improve energy price formation.

A summary of the issues scheduled to be brought to a vote at the PJM Markets and Reliability and Members committees on June 21, 2018.

The PJM Operating Committee unanimously approved revisions to Manual 14D to tighten the notification rules for transferring the ownership of generation units.

The NYISO Management Committee approved proposed Tariff changes to define the role of inverter-based energy storage in providing synchronized reserves.

NYISO year-to-date monthly energy prices averaged $35.34/MWh in September, a 3% increase from a year earlier.