Author Jasmin Melvin
New York — The Federal Energy Regulatory Commission March 18 ordered PJM Interconnection to revise its capacity market rules to better protect consumers from the exercise of market power by power sellers, in a move that commissioners stressed would not disrupt plans for the region’s upcoming capacity auction.
The order (EL19-47, EL19-63) grants complaints brought by PJM’s independent market monitor, state consumer advocate agencies and consumer groups in 2019 alleging that PJM’s methodology for calculating the default market seller offer cap used in capacity auction bidding was …