PJM updated stakeholders on its progress in collecting up to $2 billion in non-performance penalties stemming from Winter Storm Elliott.

PJM's Independent Market Monitor has proposed a plan to eliminate performance assessment intervals and related penalties from the RTO’s capacity market.

PJM expects to issue at least $1 billion in penalties over generation outages in December, when plummeting temperatures stretched the region to its limits.

Load interests continued to oppose PJM’s proposal to change the market seller offer cap, a month after it failed to meet the two-thirds endorsement threshold.

PJM's proposal to change its capacity offer cap failed to win stakeholders' blessing, but the RTO may submit it anyway, seeking a FERC OK for its next auction.

At the first in-person MRC meeting since the pandemic, PJM faced opposition to proposals regarding FERC filings and a change to the capacity offer cap.

PJM requested a rehearing and clarification of FERC’s order to replace its market seller offer cap, arguing that the new construct would prove burdensome.

FERC ordered PJM to revise its market seller offer cap to prevent sellers from exercising market power in the RTO’s capacity market.

PJM’s Monitor opened another front in its bid to strengthen its market power rules, challenging the renewals of rate authorizations in 14 dockets.

FERC rejected requests to change PJM’s capacity market rules to accommodate seasonal resources.