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June 17, 2024

Base Residual Auction (BRA)

© RTO Insider LLC
Monitor Alleges EE Resources Ineligible to Participate in PJM Capacity Market
PJM's Independent Market Monitor filed a complaint asking FERC to reject all energy efficiency offers into the RTO's capacity market, alleging none of them meet the Base Residual Auction participation requirements.
PJM
Following Court Ruling, FERC Reluctantly Reverses PJM Post-BRA Change
FERC partially reversed a 2023 order allowing PJM to modify a parameter for the 2024/25 Base Residual Auction to avoid a substantial increase in capacity prices in the DPL South transmission zone.
PJM Interconnection
Stakeholders Spar over PJM Request to Recalculate Capacity Auction Results
Stakeholders filed comments debating PJM’s request that FERC direct it to recalculate the results of the 2024/25 Base Residual Auction and rerun the third Incremental Auction.
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PJM Awaiting FERC Response to Court Rejection of 2024/25 Capacity Auction Parameters
PJM updated stakeholders on how it will proceed in the wake of a 3rd Circuit ruling vacating a FERC order allowing the RTO to revise a parameter after bids had been received for the 2024/25 Base Residual Auction.
© RTO Insider LLC
3rd Circuit Rejects PJM’s Post-auction Change as Retroactive Ratemaking
The 3rd Circuit vacated FERC’s order allowing PJM to revise a capacity market parameter for the DPL South zone after the 2024/25 auction had been conducted but prior to the publication of its results, ruling that it constituted retroactive ratemaking.
© RTO Insider LLC
FERC Approves PJM Capacity Auction Delay
FERC accepted PJM’s request to delay the 2025/26 Base Residual Auction from June 12 to July 17 to give stakeholders time to understand new capacity auction rules. 
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PJM Seeks Waiver to Postpone 2025/26 Capacity Auction
PJM submitted a waiver request asking FERC to delay the 2025/26 Base Residual Auction by 35 days, which would bump the commencement to July 17.
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PJM MIC Briefs: Nov. 1, 2023
Generators that plan to come online by the start of the 2025/26 delivery year will have until Dec. 12 to notify PJM of their intent to participate in the Base Residual Auction for that year.
© RTO Insider LLC
PJM Members Lobby Board Ahead of Expected CIFP Filing
PJM members recommended various avenues for the RTO's Board of Managers to consider as it weighs a possible FERC filing incorporating components of proposals made during the critical issue fast path process.
PJM
PJM Updates Risk Analysis; Stakeholders Present Revised CIFP Proposals
PJM showed updated risk analysis figures and stakeholders made new proposals during the July 17 Critical Issue Fast Path process meeting.

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