Full Title: PJM’s Capacity Performance Proposal: FERC Delivers a Strong Order
Author(s): George Katsigiannakis and Himanshu Pande
Publisher(s): ICF International
Publication Date: July 1, 2015
Full Text: Download Resource
Description (excerpt):
Key Findings
Following PJM’s response regarding deficiencies in its original filing, on Tuesday June 9th, 2015, FERC issued its decision on PJM’s proposal for a major restructuring of its capacity market, known as the Capacity Performance (CP) proposal. FERC’s decision removes months-long speculation on the future of PJM’s capacity markets and addresses concerns regarding loopholes and serious inefficiencies in the previous capacity market tariff. With FERC’s decision, PJM has finalized the timelines both for the upcoming transitional auctions and for the Base Residual Auction (BRA), the latter of which was delayed for the first time in the 10-yr history of PJM’s capacity market. The exhibits below provide these timelines.