The PJM Members Committee approved a proposal that would sharply reduce the penalties generators pay for underperforming during emergency conditions.

The MRC endorsed a proposal to reduce penalties for generators that don’t meet their capacity obligations during performance assessment intervals.

Stakeholders continued to refine proposals to overhaul PJM’s capacity market through the second phase of the RTO’s critical issue fast path process.

The PJM Markets and Reliability Committee on Wednesday endorsed a new renewable dispatch structure proposed by the RTO and the Independent Market Monitor.

PJM has assessed more than $1.8 billion in performance penalties on generators that underperformed during the December 2022 winter storm, the RTO said.

More generator companies filed complaints with FERC alleging that PJM violated its governing documents during its response to the December 2022 winter storm.

PJM presented a preliminary proposal to overhaul its capacity market to the Resource Adequacy Senior Task Force.

Average PJM LMPs doubled to a record-high $80/MWh last year, driven mostly by coal and natural gas prices, the RTO’s Independent Market Monitor reported.

PJM updated stakeholders on its progress in collecting up to $2 billion in non-performance penalties stemming from Winter Storm Elliott.

PJM's Independent Market Monitor has proposed a plan to eliminate performance assessment intervals and related penalties from the RTO’s capacity market.