Independent Market Monitor Joe Bowring said PJM’s proposed revisions to how it prices reserves necessitates changes in the capacity market.

The MRC voted on four packages of revisions as part of PJM’s quadrennial review of the VRR curve, but none of the proposals received majority support.

PJM staff have incorporated stakeholder input into their recommendations resulting from the quadrennial review of the VRR demand curve.

The PJM Markets and Reliability Committee agreed to a one-year delay in adding cost-containment measures to the RTO’s transmission planning process.

The Market Implementation Committee overwhelmingly endorsed PJM’s proposal for revising how it calculates the balancing ratio.

PJM has altered one of its recommended revisions to its capacity auction demand curve in response to stakeholder pressures.

PJM hopes to reduce its capacity market demand curve by including peak shaving among the variables used to develop its load forecast.

When stakeholders begin considering potential changes to PJM’s demand curve next month, one of the main debates will likely center on whether combustion turbines should remain the reference technology for estimating the cost of new entry be replaced by combined-cycle gas turbines.

PJM said the changes to the variable resource requirement curve and related pricing inputs were necessary to meet evolving market conditions.

FERC rejected a request from IMEA for an extended waiver that would allow it to use capacity resources outside of the ComEd LDA to meet its internal resource requirement in serving its load.