Capacity Performance (CP)
PJM's Independent Market Monitor filed a FERC complaint alleging the RTO's Capacity Performance penalty structure undermines reliability and offered an alternative calculation based on capacity revenues.
Several generation companies have submitted comments supporting and opposing a proposed settlement to reduce the $1.8 billion PJM assessed against market sellers for underperforming during Winter Storm Elliott by 23%.
PJM agreed to reduce its nonperformance penalties 31.7% for generators that could not meet their capacity obligations during the December 2022 winter storm.
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 issues fast path process.
Several generation companies and PJM have indicated that they will finalize a settlement over the performance penalties the RTO assessed following Winter Storm Elliott.
PJM showed updated risk analysis figures and stakeholders made new proposals during the July 17 Critical Issue Fast Path process meeting.
PJM continued its presentation of its proposal to overhaul the capacity market during a June 21 Critical Issues Fast Path process meeting.
The PJM Markets and Reliability Committee voted to reject manual changes on the synchronized reserve requirement.
FERC OK'd settlement judge procedures to resolve complaints that generators filed against PJM’s assessment of penalties for underperformance in December 2022.
PJM says if FERC heeds Capacity Performance charge complaints stemming from storm power outages, it will undermine key aspects of reliability.
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