PJM has responded to the Market Monitor’s annual State of the Market Report, highlighting five different areas of focus out of hundreds of recommendations.

The PJM Market Implementation Committee discussed capacity interconnection rights, carbon pricing, the RTO's market seller offer cap, and more.

The Independent Market Monitor fired back at PJM’s request that FERC dismiss its complaint about the RTO’s default market seller offer cap.

PJM wants FERC to toss out the Independent Market Monitor’s complaint about its default market seller offer cap.

Unsound rules for calculating default market seller offer caps and other persistent structural flaws made PJM’s capacity market uncompetitive in 2018, the RTO’s Monitor said.

PJM’s Independent Market Monitor asked FERC to order changes to the RTO’s Capacity Performance assumptions, saying the current rules allow sellers to exercise market power.

The PJM Markets and Reliability and Members committees agreed to fast-track a proposal on demand response.

The Market Implementation Committee overwhelmingly endorsed PJM’s proposal for revising how it calculates the balancing ratio.

PJM members at last week’s MRC meeting endorsed revisions to an initiative examining the calculation of the balancing ratio used in setting capacity offer caps.

Members approved a Tariff revision setting 78.5% as the balancing ratio to be used in calculating the default market seller offer cap for the 2021/22 BRA.