cost of new entry (CONE)
PJM
The Markets and Reliability Committee endorsed PJM's recommended installed reserve margin and forecast pool requirement values for the 2026/27 Base Residual Auction.
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The PJM Market Implementation Committee endorsed a proposal to revise the base formula rate for compensating black start resources.
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FERC accepted NYISO's proposed tariff revisions that were submitted as part of the Demand Curve Reset.
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PJM announced it will seek to establish a $325/MW-day price cap on capacity prices and a $175/MW-day floor for the 2026/27 and 2027/28 Base Residual Auctions following discussions with Pennsylvania Gov. Josh Shapiro to resolve a complaint he filed over increased capacity costs.
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PJM is in discussions with Pennsylvania Gov. Josh Shapiro to work toward a resolution on his complaint to FERC asking it to lower the price cap of the RTO’s capacity market.
PJM
PJM presented stakeholders with proposed manual revisions to implement a requirement that dual-fuel generators must offer schedules with both of their fuels into the energy market during the winter, as well as changes to the operational and seasonal testing for capacity resources.
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Pennsylvania Gov. Josh Shapiro filed a complaint with FERC on behalf of the state asking the commission to revise how the maximum clearing price in PJM's capacity auction is determined.
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PJM's Adam Keech told the Market Implementation Committee the RTO plans to file governing document revisions with FERC to expand the requirement that resources must offer into the capacity market to also apply to all resources holding capacity interconnection rights.
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Stakeholder opinions were sharply divided at the PJM Members Committee’s meeting regarding RTO proposals to allow high capacity factor resources to be sped through the interconnection queue and revise aspects of the capacity market.
Talen Energy
FERC approved a PJM waiver request to offset the RTO’s capacity auction schedule by six months starting with the 2026/27 Base Residual Auction.
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