Insights from PJM's 2020/2021 capacity auction

Insights from PJM's 2020/2021 capacity auction

PJM recently released the results of the 2020/2021 BRA auction which was the first auction to fully implement the Capacity Performance (CP) market structure. The goal of CP is to increase reliability by having year-round obligations and introducing penalties for non-performance. It was initially expected that prices would increase from this rule change when it was introduced in 2014, but this has thus far not been realized. The results of this auction could drive significant changes for builds and retirements in the PJM market.

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Meet the author
  1. George Katsigiannakis, Vice President, Energy Power Markets

    George is an expert in U.S. electricity markets with a deep understanding of all factors affecting U.S. wholesale electric markets including market design, environmental regulations, fuel markets, transmission, renewable, energy efficiency, and demand side management. View bio

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