PJM’s 2027/28 Base Residual Auction procured 134,479 MW in unforced capacity at the $333.44/MW-day maximum price, falling 6,623 MW short of the reliability requirement and setting a clearing price record.

PJM's MRC rejected two proposals that would have created a “circuit breaker” mechanism to limit prices during extended periods of high prices.

FERC provided guidance to Western electricity sellers on how and when to seek exceptions for transactions that exceed the region’s $1,000/MWh soft cap.