PJM members will be asked tomorrow to approve a new scheduling option for transactions into the New York ISO to reduce uneconomic power flows. Under the current system, PJM’s Stan Williams told the Markets and Reliability Committee Thursday, power often flows from PJM into New York even when PJM’s prices...

The Members Committee Thursday approved the following four issues by acclimation: Proposed errata revisions to the OA and Tariff Reason for change: The committee approved corrections to errors inserted in Schedule 1 of the PJM Operating Agreement and Attachment K of the Tariff in 2008 and 2009. One correction will...

The Market Implementation Committee last week soundly rejected a proposal to change the modeling assumptions used in long-term auctions of Financial Transmission Rights (FTR). The proposal — which would have reduced capability in long-term FTR auctions from 100% to 50% of available capability after reserving Auction Revenue Right (ARR) capability...

Below is a summary of problem statements and manual, Operating Agreement and Tariff changes approved by the Markets and Reliability Committee Thursday, May 30, 2013. PMU Deployment The committee endorsed manual revisions requiring new gen­er­a­tors to pay for the instal­la­tion of pha­sor mea­sure­ment units (PMUs). There were four no votes...

The Market Implementation Committee gave preliminary approval Wednesday to two proposals for lowering the risk of FTR revenue shortfalls. The two proposals from the Financial Transmission Rights Task Force (FTRTF) received near-unanimous support, while a third option failed with less than 40% support and a vote on a fourth option...

PJM Thursday postponed a vote on changes needed to comply with the Commodity Futures Trading Commission order exempting most PJM market participants from CFTC jurisdiction. PJM Chief Financial Officer Suzanne Daugherty said the delay was needed to address questions from members about the proposed tariff and Operating Agreement changes, which...

PJM and its Market Monitor still don’t agree on how the Financial Transmission Rights forfeiture rule should be applied. But they have at least reached consensus on how it has been applied to date. PJM Vice President of Market Operations Stu Bresler presented the Markets and Reliability Committee Thursday with...

By Rich Heidorn Jr. PJM Insider PJM’s announcement last week that it may deny trading privileges to as many as 55 small market participants provoked both praise and criticism from financial traders. PJM said that it would bar members from most trading if they are unable to qualify for the...