PJM stakeholders at last week’s Market Implementation Committee meeting approved two problem statements and issue charges presented by Exelon.
While structural issues persist, PJM's markets were competitive in 2017, the RTO's Market Monitor said Thursday contradicting concerns from PJM and some stakeholders that prices are unsustainably low.
FERC ordered a technical conference to consider whether PJM should move from a year-round to a seasonal capacity market construct.
Stakeholders remain reticent to cede too much command and control to PJM, voting at the MRC meeting to defer a vote on revisions to Manual 14D.
PJM will ask FERC to choose between capacity market proposals by its staff and its Market Monitor (MOPR-Ex) to insulate its market from state subsidized generation.
Stakeholders at the Markets and Reliability Committee meeting declined to endorse any proposals to revise PJM’s capacity model.
PJM staff will recommend that the RTO’s Board of Managers approve its own capacity repricing proposal next month, ignoring an endorsement vote scheduled for an alternative proposal that had garnered more stakeholder support.
Exelon and PSEG will have to wait until the next session of the New Jersey Legislature for a vote on a bill to provide payments to the state’s nuclear fleet.
Defenders of the Illinois nuclear subsidy program faced harsh questioning from a judge skeptical that it avoids federal pre-emption concerns.
PJM has a lot on its plate for 2018, including an ongoing effort to change its capacity market structure, the DOE NOPR and gas-electric coordination.