Synchronized reserves have seen a drop in prices since PJM implemented market overhauls at the start of October, the RTO says.

The IMM offered limited support for major provisions in PJM’s quadrennial review filing before FERC while urging the agency seek revisions to some proposals.

The MIC approved an initiative to change the determination of zonal load bus distribution factors and heard first read on changes to VOM cost development.

FERC accepted PJM’s compliance filing restoring the historical energy and ancillary services revenue offset used in the RTO’s capacity market.

FERC approved PJM's revised schedule for the upcoming Base Residual Auctions, incremental auctions and the associated pre-auction deadlines.

FERC clarified that its order on remand partially reversing PJM’s proposed energy price formation revisions did not remove the RTO’s reserve price caps.

PJM's upcoming 2023/24 BRA is set to be delayed again after FERC partially reversed its 2020 decision on the RTO’s energy price formation revisions.

FERC explained why it would not reconsider revenue calculations in PJM’s capacity market, saying it did want to further delay the RTO's upcoming auction.

PJM moved closer to restarting its capacity auctions with FERC’s approval of its new energy and ancillary services revenue offset calculation

FERC approved PJM’s proposed energy price formation revisions, agreeing with the RTO that its reserve market was not functioning as intended.