PJM credited emergency procedures with improving generator performance during a pair of winter storms in January, including a new all-time winter peak of 145,060 MW.

PJM's Transmission Expansion Advisory Committee heard a presentation about the preliminary 2029 congestion results in the 2024/25 Base Case.

The Members Committee was sharply divided on an agreement in principle between PJM and Pennsylvania Gov. Josh Shapiro to institute a cap and floor on capacity prices for the 2026/27 Base Residual Auction and the following auction.

Dominion Energy reported that its Coastal Virginia Offshore Wind project will cost 9% more than initially expected, thanks to higher-than-expected PJM network upgrade costs.

PJM announced it will seek to establish a $325/MW-day price cap on capacity prices and a $175/MW-day floor for the 2026/27 and 2027/28 Base Residual Auctions following discussions with Pennsylvania Gov. Josh Shapiro to resolve a complaint he filed over increased capacity costs.

Constellation and Calpine proposed selling off several PJM power plants in their merger application with FERC to quell any concerns with market power in some submarkets.

The PJM Markets and Reliability Committee and Members Committee endorsed a proposal to rework the RTO’s rules around generation deactivations.

PJM set a record winter peak load Jan. 22, surpassing its previous seasonal peak set in February 2015. PJM officials said actions the RTO and its members took ahead of the cold snap got the system through strained conditions.

Among other actions, the PJM Markets and Reliability Committee and the Members Committee will consider endorsing various manual revisions.