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.

The PJM Market Implementation Committee overwhelmingly voted to endorse manual revisions to put limits on when generators can submit real-time values.

PJM asked FERC to delay its capacity auctions to give the RTO time to incorporate rule changes to address reliability concerns.

PJM presented a draft proposal to delay the next four Base Residual Auctions to the Members Committee during a special meeting.

The PJM Markets and Reliability Committee endorsed an RTO-sponsored package to standardize variable operations and maintenance costs.

PJM will hold the 2022/23 Base Residual Auction in May after being delayed since 2019 over FERC’s expansion of the minimum offer price rule.

FERC granted PJM permission to use a lower peak load forecast for its second Incremental Auction in July, reflecting the impact of the COVID-19 pandemic.

PJM and the Monitor presented members with separate proposals to revise the long-term financial transmission rights market.

Stakeholders at the Markets and Reliability Committee meeting declined to endorse any proposals to revise PJM’s capacity model.

PJM’s initiative to internalize all generator payments moved forward at the MRC when stakeholders endorsed the RTO’s proposal to examine price formation.