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March 28, 2026

Energy Market

January Cold Almost Off the Charts
January's record-setting cold pushed PJM’s load-weighted LMP to $126.80, more than three times the price in January 2012.
Manual Change on DR Compensation Rejected; 3 Others OK’d
In a highly unusual move, PJM members Thursday balked at endorsing proposed manual changes governing when Economic demand response qualifies for payment.
PJM Trader Calls FERC on Manipulation Probe
The Powhatan Energy Fund, the subject of a FERC investigation for more than three years without being charged, has decided to go on offense by releasing documents it says proves it has been unfairly hounded.
The Players
A guide to the players in the Powhatan Energy Fund market manipulation investigation.
Virtual Trading 101: INCs, DECs, UTCs
A brief primer on virtual trading: INCs, DECs and UTCs.
NYISO Scheduling Product Wins FERC OK
FERC approved a new scheduling product to reduce uneconomic power flows between PJM and NYISO, clearing the way for its implementation later this year.
Contrarian View: CERA Sees Higher Load Growth
An analyst for consulting firm IHS CERA challenged "conventional wisdom" with a bullish forecast for load growth.
‘Free’ Ride Over for UTCs? – Update
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).
FERC Lifts Price Cap Through March 31
High-cost gas-fired generators will be able to set PJM market clearing prices above $1,000/MWh for the remainder of the winter, the Federal Energy Regulatory Commission ruled.
Exelon May Close Nukes
Several PJM utilities released their fourth quarter earnings last week, but none made news like Exelon, which warned that it may shut down some of its nuclear generating stations if they can't compete against subsidized renewable generators and stubbornly low natural gas prices.

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