PJM CEO Andy Ott responded to concerns about the Board of Managers’ recent ultimatum around price formation, and stakeholders offered additional ones.
PJM staff moved briskly through a dense agenda of the Energy Price Formation Senior Task Force in hopes of wrapping up the initiative by a Jan. 31 deadline.
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.
Months past the deadline requested by PJM’s Board of Managers, details of potential changes to the RTO’s energy market remain anyone’s guess.
PJM staff are pushing skeptical stakeholders to vote on a proposal to revise energy price formation at the next Energy Price Formation Task Force meeting.
The PJM initiative to revise how its energy market is constructed continued down the rabbit hole with a discussion about the timing of procuring reserves.
PJM rolled out a proposal to procure reserves on a more granular level, a move the RTO hopes will shift more generator revenues back into the energy market.
FERC should let RTO stakeholder processes work and not issue broad and costly new mandates on grid resilience, commenters told the commission.
PJM members at last week’s MRC meeting endorsed revisions to an initiative examining the calculation of the balancing ratio used in setting capacity offer caps.
The PJM Board of Managers directed staff to identify changes to improve reserve market pricing that can be implemented for next winter.