PJM and the Monitor presented members with separate proposals to revise the long-term financial transmission rights market.

Capacity auction prices increased sharply in most of PJM for delivery year 2021/22, with demand response and energy efficiency making gains while cleared nuclear power capacity dropped.

FERC has signaled that it’s done dealing with PJM’s concerns about market participants selling “paper capacity” to arbitrage price differences between the Base Residual and Incremental auctions.

NRG earned $233 million in the first quarter, compared with a loss of $169 million in the same period last year.

PJM wants to take a more holistic look at how the grid’s supply chain works and factor the findings into its markets.

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.

Stakeholders at the Markets and Reliability Committee meeting declined to endorse any proposals to revise PJM’s capacity model.

FERC claimed “exclusive authority” over the participation of energy efficiency in wholesale markets but preserved a carveout for Kentucky utilities.

While stakeholders are divided on changes to PJM’s Incremental Auctions, hope remains for a compromise that can be implemented in time for next year’s BRA.

PJM hit a snag attempting to calculate the market seller offer cap (MSOC) for Capacity Performance units for the 2021/22 delivery year.