The PJM Interconnection board of managers is seeking a delay of upcoming capacity auctions, including June’s auction for the 2025/26 delivery year, so that proposed design rule changes may be implemented. “In arriving at this decision, the Board recognized that, despite the implications of auction delay, reforms are necessary to the capacity market design in order to conduct an effective Base Residual Auction,” PJM said in an email statement on March 27.
PJM is preparing a filing with FERC, who must approve the requested delay. Preparations for the June auction are continuing in the event that request is denied.
PJM to Propose Capacity Auction Delay Pending Resource Adequacy
PJM plans capacity auction delays as it develops market reforms to bolster resource adequacy