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March 28, 2025

Independent Market Monitor (IMM)

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PJM Receives 94 Applications for Expedited Interconnection Process
PJM received 94 submissions from generation owners seeking to have new projects or uprates to existing units included in the RTO’s expedited Reliability Resource Initiative interconnection study process.
Constellation Energy
Constellation-Calpine Merger Draws Protests over Market Power Concerns in PJM
FERC received several protests to Constellation's proposed purchase of Calpine, with PJM's Monitor arguing the companies need to make additional commitments to preserve competition in the RTO.
© RTO Insider
PJM Stakeholders Endorse Proposals to Rework ELCC Accreditation
PJM’s Markets and Reliability Committee endorsed two proposals to revise the RTO’s ELCC formula to add two new generation categories and limit the penalties resources face if their accreditation declines between auctions.
© RTO Insider
PJM Market Monitor Publishes Mixed Views in Annual Report
PJM’s markets provided reliable service in 2024, but tightening supply and demand are laying bare design flaws that have inhibited the competitiveness of the RTO’s markets, the Independent Market Monitor wrote in its 2024 State of the Market Report.
© RTO Insider 
MISO Intent on Answers as to IMM Role in Tx Planning
MISO confirmed it’s taking steps to get answers from FERC about the role the Independent Market Monitor should have — if any — in transmission planning.
© RTO Insider LLC 
MISO: Better Preparations Clinched Winter Storm Operations
MISO emerged from winter 2024/25 without turning to emergency procedures despite wide-ranging winter storms Jan. 6-9 and again Jan. 20-22.
© RTO Insider LLC
PJM MIC Briefs: March 5, 2025
The PJM Market Implementation Committee endorsed by acclamation an RTO-sponsored issue charge to consider changes to how resources committed in advance of the day-ahead market are offer capped.
© RTO Insider LLC
PJM Stakeholders Endorse Changes to Black Start Compensation
The PJM Market Implementation Committee endorsed a proposal to revise the base formula rate for compensating black start resources.
© RTO Insider LLC
Board Orders MISO to Get Answers on IMM’s Role in Tx Planning
Board members have directed MISO to seek guidance on the role of the Independent Market Monitor in transmission planning following a year of IMM David Patton criticizing MISO’s nearly $22-billion long-range transmission portfolio.
© RTO Insider LLC 
PJM Presents Capacity Price Cap and Floor to Members Committee
The Members Committee was sharply divided on an agreement in principle between PJM and Pennsylvania Gov. Josh Shapiro to institute a cap and floor on capacity prices for the 2026/27 Base Residual Auction and the following auction.

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