The Monitor reported that the PJM energy, capacity, regulation, synchronized reserve and FTR markets were all competitive in the 2015 State of the Market.

PJM and the Independent Market Monitor asked FERC to revise Capacity Performance rules to address concerns that generators might ignore dispatch instructions to avoid penalties.

The report concluded that PJM's energy, capacity and regulation markets were competitive for the first nine months of the year.

The MRC failed to reach consensus on reducing compensation for Tier 1 synchronized reserves, with proposals by PJM and the Market Monitor both falling short.

PJM Market Monitor Joe Bowring said that the RTO must include strong market-power protections in rules allowing generators to change their offers hourly.

The authors of four competing proposals to change the $1,000/MWh energy market offer cap have agreed to put forward one plan for consideration by the PJM MRC.

A federal appeals court Friday threw out the 2013 EPA rule exempting diesel generators providing demand response from air emissions limits.

In its State of the Market report for 2013, the Market Monitor listed several high-priority tasks for the coming year.

Financial marketers are pleased with PJM’s proposal to change the way uplift charges are assessed on virtual trades but aren’t convinced by a PJM analysis that the RTO says justifies extending the charges to up-to congestion trades (UTCs).

PJM wants to change the way virtual trades pay for uplift, replacing the current unpredictable charges with a flat per megawatt fee and assessing them for the first time on up-to congestion trades (UTCs).