PJM's Market Implementation Committee reviewed proposed manual language changes regarding financial transmission rights and UTC uplift.

PJM stakeholders endorsed the RTO’s package on updates to real-time value market rules that call for additional penalties for generation operators.

FERC ordered PJM to begin billing up-to-congestion transactions for uplift, calling the RTO’s current rules unjust and unreasonable.

PJM must provide FERC with a refreshed briefing on whether the RTO still wants to charge uplift on all virtual trades in light of recent market changes.

FERC ordered MISO and SPP to make additional Tariff changes to comply with the transparency requirements of Order 844 while approving PJM’s filing.

FERC accepted NYISO’s Order 844 filing, which establishes procedures for reporting uplift payments, operator-initiated commitments and more.

FERC rejected requests for rehearing of its ruling reducing the number of bidding nodes for virtual transactions in PJM, and upheld its rejection of the RTO’s proposal to allocate uplift to UTCs.

January’s cold weather resulted in a sharp increase in natural gas and power prices in the first quarter, PJM’s Independent Market Monitor reported.

PJM’s Market Implementation Committee approved manual revisions reducing the number of virtual bidding locations by almost 90%.

FERC ordered RTOs and ISOs to submit monthly reports detailing their uplift payments and operator-initiated commitments.