FERC approved a settlement between PJM and 81 parties to reduce the $1.8 billion in penalties assessed against generators that underperformed during Winter Storm Elliott.

Several generation companies have submitted comments supporting and opposing a proposed settlement to reduce the $1.8 billion PJM assessed against market sellers for underperforming during Winter Storm Elliott by 23%.

PJM agreed to reduce its nonperformance penalties 31.7% for generators that could not meet their capacity obligations during the December 2022 winter storm.

Several generation companies and PJM have indicated that they will finalize a settlement over the performance penalties the RTO assessed following Winter Storm Elliott.

FERC OK'd settlement judge procedures to resolve complaints that generators filed against PJM’s assessment of penalties for underperformance in December 2022.

PJM says if FERC heeds Capacity Performance charge complaints stemming from storm power outages, it will undermine key aspects of reliability.

PJM asked FERC to initiate settlement judge procedures in its dispute with generators over nonperformance penalties for Winter Storm Elliott.

Nautilus Power asked FERC to dismiss penalties over the December 2022 storm, saying PJM failed to provide sufficient notice for their units to purchase gas.