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December 5, 2025

Independent Market Monitor (IMM)

© RTO Insider LLC
PJM Stakeholders Discuss Monitor Contract Review
PJM stakeholders provided feedback to the Board of Managers on a potential review of the IMM contract during the Markets and Reliability Committee meeting.
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Monitor Seeks Access to PJM Liaison Committee Meetings
PJM's IMM filed a complaint to FERC alleging that the RTO is in violation of its tariff by not permitting the Monitor to attend Liaison Committee meetings.
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PJM Stakeholders Debate Capacity Auction Delays
PJM stakeholders appeared split over proposals to delay the RTO’s capacity auctions to include market rule changes being considered by the Board of Managers.
Monitoring Analytics
PJM Monitor: Rise in Fuel Costs Led to Record-high Prices in 2022
Average PJM LMPs doubled to a record-high $80/MWh last year, driven mostly by coal and natural gas prices, the RTO’s Independent Market Monitor reported.
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PJM MRC/MC Briefs: Feb. 23, 2023
The PJM Markets and Reliability Committee endorsed an RTO proposal to increase the maximum number of bids a single corporate entity can enter into FTR auctions.
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PJM Board Initiates Fast-track Process to Address Reliability
PJM’s Board of Managers is opening an accelerated stakeholder process to address rising reliability concerns about the RTO’s capacity market.
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PJM OC Briefs: Feb. 9, 2023
PJM and its IMM gave first reads of their proposals exploring whether generators should be permitted to recover upgrade costs for some critical facilities.
Texas State Senate
Market Monitor Pans ERCOT Market Redesign
ERCOT’s IMM continues to criticize Texas regulators’ preferred market redesign, saying what they have proposed is a “less effective and efficient."
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PJM Stakeholders Discuss Capacity Market Changes After Winter Storm
PJM's Independent Market Monitor has proposed a plan to eliminate performance assessment intervals and related penalties from the RTO’s capacity market.
© RTO Insider LLC
IMM: Faulty Assumption in MISO’s Seasonal Auction Design
Months before MISO debuts a seasonal capacity auction, its IMM said he has uncovered a faulty assumption behind the seasonal capacity requirements.

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