PJM Says Results Show Transitional Capacity Auction Competitive
September 01, 2015
PJM successfully procured the targeted amount of resources needed to satisfy capacity performance standards in its first transitional auction. The price for resources able to meet the pay-for-performance standard was well below the price cap for the auction, the grid operator said, illustrating the competitiveness of the auction. Held Aug. 26-27, the auction procured 95,096.6 MW of resources at $134 per MW-day for all areas in the PJM footprint. As part of the phase-in of capacity performance standards, PJM sought to procure resources meeting the new requirements for 60 percent of capacity needs for 2016-2017.