Base Residual Auction (BRA)
PJM may compress the schedule for the delayed 2022/23 Base Residual Auction and subsequent auctions in response to FERC’s order expanding the MOPR.
PJM won’t run a capacity auction until FERC approves the RTO’s compliance filing implementing the expansion of its MOPR, making it unlikely for this year.
FERC voted 2-1 to extend PJM’s MOPR to all new state-subsidized resources, saying it was needed to combat price suppression in the RTO’s capacity market.
Transmission owners asked PJM to convene a meeting with stakeholders and produce a schedule that allows for time between FERC’s decision and the next BRAs.
PJM told stakeholders all deadlines for upcoming capacity auctions will be suspended pending FERC action on the RTO’s proposed revisions to its capacity market.
FERC may be unable to issue a ruling on PJM's capacity market rules before December, further complicating matters for the RTO and market participants.
FERC halted PJM’s plan to run its capacity auction next month hours after the MRC reaffirmed the RTO’s decision to move forward as planned.
Miles Farmer and Amanda Levin of the Natural Resources Defense Council respond to Steve Huntoon's criticism of their evaluation of the PJM capacity market.
The Independent Market Monitor fired back at PJM’s request that FERC dismiss its complaint about the RTO’s default market seller offer cap.
PJM will move forward with its August capacity auction under current market rules, unless FERC says otherwise, CEO Andy Ott told stakeholders.
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