The addition of 3,500 MW of offshore wind capacity would have reduced ISO-NE energy market costs by about $400 million over the past winter, according to a recent study by Daymark Energy Advisors.

Capacity markets have brought significant cost savings for customers in the Northeast over the past two decades but now face the critical need to evolve amid rapid load growth and a changing resource mix.

PJM showed updated risk analysis figures and stakeholders made new proposals during the July 17 Critical Issue Fast Path process meeting.

PJM completed its delivery of a sprawling presentation outlining its envisioned overhaul of the capacity market, followed by stakeholder presentations from Calpine, Daymark Energy Advisors and the East Kentucky Power Cooperative.

Stakeholders continued to refine proposals to overhaul PJM’s capacity market through the second phase of the RTO’s critical issue fast path process.