PJM officials last week defended their practice of creating interfaces to capture operator actions in response to voltage problems, saying they can’t guarantee the constraints will be modeled in FTR auctions.

Members narrowed the scope of a task force created to improve funding of FTR, agreeing to eliminate consideration of balancing congestion.

Members last week agreed to create a senior task force to fix the underfunding of Financial Transmission Rights (FTRs) following a debate over the role of Auction Revenue Rights.

Stakeholders approved a rule change to the PJM zonal base load definition so that zones don’t lose Auction Revenue Rights due to anomalies caused by storms or other extraordinary events.

FTR traders asked PJM and the Market Monitor to take action to address funding shortfalls, receiving sympathy but no commitments.

In its State of the Market report for 2013, the Market Monitor listed several high-priority tasks for the coming year.

The PJM 2013 State of the Market was, to quote that noted economist Yogi Berra, mostly “déjà vu all over again.”

Members agreed last week to move forward with an initiative that could result in reduced restrictions on Up-to Congestion transactions.

PJM is adding more items to the to-do list resulting from the September heat wave, during which officials ordered limited load sheds to prevent a wider transmission collapse.

PJM will consider relaxing rules for up-to congestion transactions under a problem statement approved last week.