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December 20, 2025

Capacity Market

Talen Energy
FERC Directs PJM to Issue Rules for Co-locating Generation and Load
FERC told PJM to change its rules to allow for co-located load at generators, with new transmission services and other tweaks.
PJM
PJM Capacity Auction Clears at Max Price, Falls Short of Reliability Requirement
PJM’s 2027/28 Base Residual Auction procured 134,479 MW in unforced capacity at the $333.44/MW-day maximum price, falling 6,623 MW short of the reliability requirement and setting a clearing price record.
SPP
FERC OKs SPP Extension of Dispatchable Interchange Transactions into Real-time

FERC approved an SPP tariff change that adds real-time dispatchable interchange transactions to its Integrated Marketplace, extending the current day-ahead market dispatchable transaction model into the real-time balancing market.

Rainbow Energy Center
Trade Group Submits 2nd Complaint Against MISO Capacity Auction Repricing
A trade group representing multiple MISO power producers has lodged a complaint against retroactive pricing revisions in MISO’s 2025/26 capacity auction, joining Pelican Power in calling the repricing unlawful.
Shutterstock
Energy Efficiency Dismissed from MISO Capacity Market
MISO ended its 10-year run allowing energy efficiency in its capacity market, as FERC allowed the change to take effect.
© RTO Insider LLC
MISO Usage, Outages Up in Fall 2025
MISO and its Monitor tracked a rise in energy consumption in fall 2025 and reviewed some operational rough patches, while the RTO explained why its machine-learning risk predictor remains a work in progress.
Google
ANOPR Reply Comments Offer Differing Paths for FERC Action on Large Loads
Reply comments to the Department of Energy’s Advance Notice of Proposed Rulemaking to FERC on large loads offered differing paths for the commission to potentially take.
Analysis Group
ISO-NE Talks CAR Gas Constraints, Seasonal Risk Split, Impact Analysis
ISO-NE continued work on the second phase of its Capacity Auction Reform project, discussing modeling of the region’s gas constraints, seasonal auction design and its approach to evaluating the impacts of the auction changes.
Stantec
Louisiana Gen Co. First to Lodge Complaint Over MISO Auction Error and Price Corrections
Louisiana-based power generator Pelican Power is the first to register a complaint over MISO’s yearslong miscalculation in its capacity auctions in an effort to stop the RTO’s retroactive pricing corrections.
Power Advisory
Big Jump in Ontario Capacity Prices Signals Tightening Supplies
IESO says record-high clearing prices in its capacity auction will have little impact on ratepayers because the ISO's medium- and long-term procurements play a larger role in the region’s resource adequacy.

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