PJM presented how the planning parameters for the 2026/27 Base Residual Auction affected the variable resource rate curve, which intersects with supply and demand to determine auction clearing prices.

PJM updated its Critical Issue Fast Path proposal, while several additional stakeholder presentations are scheduled for the remaining two meetings before they vote on packages.

FERC accepted revisions to PJM’s tariff that the RTO proposed via its Quadrennial Review of the parameters underlying its Reliability Pricing Model auctions.

PJM defended the proposed capacity auction parameters in its quadrennial review before FERC against two protests from the generation sector.

The 2023/24 Base Residual Auction held by PJM in June yielded competitive results, the RTO’s IMM announced in a report released last month.

The results of PJM’s 2022/23 Base Residual Auction were not competitive, according to a report released last week by the RTO’s Independent Market Monitor.

FERC ordered PJM to remove the 10% cost adder for the reference resource used to establish the VRR curve in the RTO’s capacity market.

Stakeholders unanimously voted to amend PJM's issue charge addressing the calculation of regulation mileage ratio, asking the RTO for more time to discuss.

Independent Market Monitor Joe Bowring said PJM’s proposed revisions to how it prices reserves necessitates changes in the capacity market.

The MRC voted on four packages of revisions as part of PJM’s quadrennial review of the VRR curve, but none of the proposals received majority support.