PJM’s Market Monitor overstepped its authority in calculating the capacity offer cap, but the RTO’s Tariff may need to be changed, FERC ruled.

Dynegy said last week it will seek to move its Illinois generation to PJM unless MISO changes its capacity market rules.

Market Monitor Joe Bowring and stakeholders representing load expressed doubts last week about PJM’s latest capacity market proposals.

Members overwhelmingly approved revised methodology that will limit external generation resources in next year's base capacity auction to 6,200 MW ­- a 17% drop from the volume of that cleared in May's auction.

Stakeholders began work last week on an initiative to create more accurate capacity market price curves and a recommendation by the Market Monitor to eliminate adders for FMUs.