A summary of proposed changes to the PJM incremental auctions.

PJM Stakeholders will hold a formal vote on measures to eliminate speculation in the capacity market this week after narrowing the proposals from seven to six/five in a lengthy meeting Friday.

The Planning Committee last week endorsed manual changes implementing PJM’s new capacity import limits.

Time is growing short for PJM stakeholders working towards consensus to address auction arbitrage and ban capacity market speculation before May’s auction.

PJM Members endorsed the changes to manuals 3A, 14A and 28.

The Operating Committee last week endorsed changes to Manuals 3A and 13 while the Market Implementation Committee endorsed revisions to Manual 28.

The following PJM manual changes were endorsed by the Markets and Reliability Committee on Nov. 21.

Lacking consensus, PJM dropped plans for a vote on measures to prevent speculation in the capacity auctions, returning the issue to a lower committee.

The PJM Board of Managers may seek FERC approval for a staff proposal to change the way demand response clears in capacity auctions despite stakeholders’ rejection of the plan.

Members approved PJM’s methodology for limiting capacity imports but soundly rejected the RTO’s proposal to change the way DR clears in the capacity market.