June 28, 2022 PJM, ERCOT, MISO and SPP File Joint Comments on Proposed EPA June 23, 2022 PJM Capacity Auction Secures Electricity Supplies at Competitive Prices June 21, 2022 PJM Backs Use of Marginal Emission Rates Data Tool in Comments June 21, 2022 Hot Weather Alert Issued for PJM Western Region for June 2122 June 20, 2022 (WDRB Image) June 13, 2022. US power grid operator PJM Interconnection latest capacity auction for 2023/2024 saw 1,868MW of solar PV procured, up 25% from 2022/2023. We lowered our estimate for Vistra's generation capacity revenue in 2023-24 based on the PJM capacity auction results released June 21. The PJM region also is expected to add 5,580 MW of solar generation and 1,268 MW of wind generation in 2022, the analysis shows. Americas Power Statement on PJM Interconnection Capacity Auction Results . The 2023/2024 auction was originally scheduled to be held in May 2020, but auctions had been suspended while FERC considered approval of new capacity market rules. PJMs capacity market is designed to reflect where supply and demand meet, and these auction results show that, said Stu Bresler, Senior Vice President Market Services. (Valley Forge, PA June 21, 2022 ) PJM Interconnection announced today the successful procurement of resources in its annual capacity auction to meet electricity needs and ensure reliable service for the 2023/2024 Delivery Year. [5] PJMs Tariff, Attachment DD, 6.3; see PJM June 9, 2021 Reply Brief, Docket No. Last year PJM Interconnection (PJM) published its long-awaited capacity market auction schedule confirming the Base Residual Auction (BRA) for delivery year 2022-23 will be held in May 2021, with the 2023/24 auction following in December 2021. Last year, prices in the capacity auction plunged to $50 a megawatt-day, the lowest price in 11 years. Our PJM analysis this quarter incorporates ESAIs forecast for the PJM BRA 2023/24, and analyzes: Four Market Rule changes (and what they mean for auction clearing prices) Updated BRA parameters PJMs capacity market, called the Reliability Pricing Model, ensures long-term grid reliability by procuring the appropriate amount of power supply resources needed to meet predicted energy demand three years in the future. More than 1,700 MW of wind and more than 1,500 MW of solar cleared PJM's capacity auction for the June 2022 to May 2023 delivery year. The Commission noted that MISO's 2022-2023 Planning Resource Auction found that all zones within the MISO footprint met their local clearing requirement (LCR), but local resource zones 1-7 cleared at CONE (Cost of New Entry), which for 2022-2023 is set at $236.66 per megawatt-day. PJM is working to return to the normal three-year forward auction. Safe Harbor. The results of the auction, blended with results from earlier auctions, determined rates for June 1, 2022 through May 31, 2023. The auction results reflect a reliable and lower-carbon resource mix achieved at a low cost to consumers. Your accounts capacity obligation, the Peak Load Contribution (PLC), coincides with this June 1 to May 30 period and determines the volume of capacity you need to purchase each billing period. Markets June 8, 2022. Michael Yoder. Analysts and market observers are split on how the auction will turn out. Jun 7, 2022. ESAI Powers recent Capacity Watch includes our forecast for the PJM BRA 2023/24. May 23, 2018. June 3, 2021. PJM Capacity Auction Secures Electricity Supplies at Competitive Prices . PJM uses the capacity auction to make sure the grid has enough resources in the future. Kathiann Kowalski. This years auction procured 144,871 MW of resources for the period of June 1, 2023, through May 31, 2024. Vistra's Emerald Grove Solar Facility is Now Online, Providing Texas with Emission-Free Power June 1, 2022 /PRNewswire/ -- TXU Energy today announced a $250,000 May 24, 2022. Prices are higher in some regions due to constraints on the transmission system. Auction for 2023/2024 Delivery Year Attracts a Diverse and Reliable Resource Mix at Lower Cost for Consumers. The BRA works three years in advance. The bidding window will close May 25, and the results will be reported on June 2. It happens every May. The capacity auction cleared over 163,600 megawatts of unforced capacity [2], representing a 22 percent reserve margin well above PJMs target of 15.6 percent. PJM Capacity Auction for 2023/2024 Delivery Year Opens. The auction produced a price of $34.13 /MW-day for much of the PJM footprint, compared to $50 /MW-day for the 2022/2023 auction in June 2021. This years auction procured 144,477 MW of resources for the period of June 1, 2022, through May 31, 2023, at a total cost of $3.9 billion. 5.17.2022 On June 24, 2022, in Docket No. Search: Talen Energy Pjm. That compared to $50/MW-day for the 2022/2023 auction held in June 2021. today reported its results from the PJM capacity auction for planning year 2023/2024. Highlights of the auction results. PJM capacity auction prices near lowest in a decade. May 23, 2018 Jeff St. John. This auction procures capacity for the June 2022 to May 2023 delivery year. Markets June 9, 2022. 2022 Summer Reliability Assessment 3 About this Assessment NERCs 2022 Summer Reliability Assessment (SRA) identifies, assesses, and reports on areas of concern regarding the reliability of the North American BPS for the upcoming summer season.In addition, the SRA presents peak electricity demand and supply changes as well as highlights any unique regional challenges or Search: Talen Energy Pjm. But the auction data released by PJM indicates that only around 33.3 GW (ICAP) were excused from the auction because of FRR commitments, which implies a capacity reserve margin of around 17%. The quantity of capacity procured from external Generation Capacity Resources in the 2021/2022 The BRA will run from May 19, to May 25, with the results posted on June 2. IRVING, Texas, June 3, 2021 /PRNewswire/ -- Vistra (NYSE: VST) today reported its results from the PJM capacity auction for planning year 2022/2023. PJM Capacity Auction Secures Electricity Supplies at Competitive Prices. Compared to the results of the 2018 BRA prices across PJMs 13 state plus Washington DC footprint dropped by as much as 2/3. Commonwealth Edison Co.'s Earlier this summer against a backdrop of announced nuclear plant retirements, anticipated transmission project completions, and regulatory involvement from FERC, the Pennsylvania Jersey Maryland Interconnect ( PJM) completed its 2021/2022 Reliability Pricing Model [1] capacity auction. The price decrease is the result of PJMs latest Base Residual Auction, which cleared at a price of $34.20 per Megawatt-Day (MW-Day). The auction produced a price of $34.13/MW-day for much of the PJM footprint, compared to $50/MW-day for the 2022/2023 auction in June 2021. News June 9, 2022. The auction produced a price of $34.13/MW-day for much of the PJM footprint. Three Illinois nuclear power plantsByron, Dresden, and Quad Citiesdid not clear in last weeks long-delayed PJM Interconnection capacity auction, Exelon Generation reported in a filing with the Securities and Exchange Commission. PJM Capacity Market FERC & Federal. PJM Capacity Market, also known as the Reliability Pricing Model, ensures long-term grid reliability by securing power needed to meet future energy demand. Markets June 9, 2022. PJM Capacity Auction for 2023/2024 Delivery Year Opens. June 8, 2022. The total Fixed Resource Requirement (FRR) obligation is an additional 31,346 MW. PJM Interconnection opened the bidding window for its annual capacity auction today, June 8. The 2023-24 auction will take place in December* of this year and the 2024-25 auction will follow in June 2022. Value Investing | Market insights and news of the investment gurus. The PJM Interconnection 's 2022-2023 capacity auction cleared at prices that were "significantly lower" than the previous auction and well below analyst expectations.. On June 2, PJM announced the results of the first Base Residual Auction (BRA) in its capacity market held in more than three years. The importance of understanding these dynamics is magnified by the accelerated schedule of the next few auctions as PJM gradually catches up on its 3-year forward market design. 5.17.2022 On June 24, 2022, in Docket No. A snapshot of the results are as follows (by load-zone): Markets June 21, 2022. This total is slightly less than the 2020/2021 auction (165,000 MW). Byron nuclear power plant. Prices Spike in PJM Capacity Auction. The bidding window will close June Markets June 9, 2022. June 21, 2022 01:02 PM. This total is $4.4 billion less than in the previous auction, for the 2021/2022 Delivery Year, when adjusted for changes in Fixed Resource Requirement (FRR) elections. Enel X was awarded 2,900 MW of committed capacity resources for the 2022-2023 delivery period in the latest capacity auction held by PJM. The BRA will run from May 19, to May 25, with the results posted on June 2. (Valley Forge, PA June 21, 2022 ) PJM Interconnection announced today the successful procurement of resources in its annual capacity auction to meet electricity needs and ensure reliable service for the 2023/2024 Delivery Year. The auction results reflect a reliable and lower-carbon resource mix achieved at a low cost to consumers. Exelons other nuclear plants in PJM cleared in the auction for the 2021-2022 planning year. Customers located within PJM Interconnections (PJM) regional footprint, which includes all of Ohio, will pay less for capacity beginning June 1, 2023. Download. More than 95% of more than 225,000 proposed megawatts of generation are wind and solar, storage facilities, or hybrids of solar or wind with batteries. PJM Loses a Quarter of its Nuke Capacity in Latest Power Auction. PJM Capacity Auction Secures Electricity Supplies at Competitive Prices . IRVING, Texas, June 22, 2022 /PRNewswire/ -- Vistra (NYSE: VST) today reported its results from the PJM capacity auction for planning year 2023/2024. The 2022/2023 BRA opened on May 19, 2021, and the results were posted on June 2, 2021. This pushed back the next auction from January 25, 2022 to June 8, 2022. VALLEY FORGE, Pa., June 21, 2022 /PRNewswire/ -- PJM Interconnection announced today the successful procurement of resources in its annual capacity auction to meet electricity needs and ensure reliable service for the 2023/2024 Delivery Year. PJM Capacity Auction for 2023/2024 Delivery Year Opens. PJMs Adjusted Class Average approach was approved by FERC in 2021, and NYISOs Marginal Capacity Accreditation approach was approved by FERC in May 2022. In this article: IRVING, Texas, June 22, 2022 /PRNewswire/ -- Vistra (NYSE: VST) today reported its results from the PJM capacity auction for planning year 2023/2024. The largest U.S. grid operator said late Tuesday the 2023/2024 auction was worth about $2.2 billion, down from around $4 billion in the prior auction for the 2022/2023 delivery year. This is down from $140/MW-day for the unconstrained regional Duke Energy Gallagher Station, a coal-burning power plant, near New Albany, Indiana. Auction for 2023/2024 Delivery Year Attracts a Diverse and Reliable Resource Mix at Lower Cost for Consumers. The price decrease is the result of PJMs latest Base Residual Auction, which cleared at a price of $34.20 per Megawatt-Day (MW-Day). PJMs recent release of the 2022/23 Base Residual Auction clearing prices surprised many market participants with prices PJMs BRA is a forward capacity auction because its planning future capacity. PJM Capacity Auction Secures Electricity Supplies at Competitive Prices. This years auction procured a total 144,477MW of resources for the period of 1 June 2022 until 31 May 2023 at a total cost of US$3.9 billion. PJM Interconnection has announced the results of its annual capacity auction, or base residual auction (BRA), for the 2023/2024 Delivery Year (DY). The latest auction procured 144,871 megawatts (MW) of resources for the June 1, 2023-May 31, 2024 period at a price of $34.13 per megawatt day (MW-day) for much of PJM's footprint, compared to $50 a MW-day for the 2022/2023 auction in June 2021. Markets June 8, 2022. Michael Yoder. 12.07.2022: Author: adx.impiantifotovoltaici.milano.it: Search: table of content. Forward-Looking Statements. Under PJMs proposal, the Base Residual Auction for the 2023/2024 Delivery Year would be held June 8, 2022, with the first and second incremental auctions canceled. IRVING, Texas, June 22, 2022 /PRNewswire/ -- Vistra. The 2022/2023 capacity auction, or Base Residual Auction, was originally scheduled to be held in May 2019, but was postponed pending FERCs approval of new capacity market Minimum Offer Price Rules There is a 2-GW surplus in the region, according to Joundi. Markets June 21, 2022. That compared to $50/MW-day for the 2022/2023 auction held in June 2021. In addition to historical information, the information presented in this presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act. Oyster Creek in New Jersey did not participate in the auction, as the plant will retire by October 2018. Three Exelon Generation Co. LLC nuclear power plants did not clear PJM Interconnection's capacity auction for the 2022-2023 planning year, the company announced June 3, further imperiling the future of the reactors and adding pressure to Illinois state lawmakers to provide financial aid. PJM finalizes capacity prices in advance of a one-year term that starts June 1. PJM Announces Results from its 2023-2024 Capacity Auction . The results were, to say the least, interesting. June 8, 2021, 3:00PM Nuclear News. IRVING, Texas, June 22, 2022 /PRNewswire/ -- Vistra (NYSE: VST) today reported its results from the PJM capacity auction for planning year 2023/2024. Feb 23, 2022. NRG Energy Inc. 2022/2023 PJM Capacity Auction Results. TXU Energy Kicks Off 2022 Beat the Heat Program, Providing $100,000 for Fans and A/C Units to Keep Texans Cool. This total is $4.4 billion less than in the previous auction, for the 2021/2022 Delivery Year, when adjusted for changes in Fixed Resource Requirement (FRR) elections. This auction procures capacity for the June 2023 through May 2024 Delivery Year. FERC gave PJM 60 days to revise its rules in line with the decision. Emissions Watch Blog June 7, 2022; RGGI Auction 56 Update: RGGI Auction Clears At $13. is a natural gas and electric utility serving ~700,000 customers in 45 counties in Pennsylvania and one county in Maryland Report this profile 's board of directors has approved a $70 million project to modify the company's Montour power plant in Central Pennsylvania to co-fire 14-614 HUGHES V 8 In New England, several states have In the latest auction, PJM sought about 166,000 megawatts of capacity for the June 2021-May 2022 delivery year. The PJM BRA for 2023/24 Delivery year is set to begin June 8, 2022. June 27, 2022. EL19-47-000, at 7 n.12 (It is noted that every Capacity Market Seller fails the market structure test (also known as the Three Pivotal Supplier Test) in PJM so requiring a unit-specific review of any Market Seller that fails the test would effectively mean all resources would be subject to a PJM Capacity Auction Secures Electricity Supplies at Competitive Prices Markets June 21, 2022 PJM Interconnection announced today the successful procurement of resources in its annual capacity auction to meet electricity needs and ensure reliable service for the PJM Backs Use of Marginal Emission Rates Data Tool in Comments to the SEC Clean Attribute Procurement Task Force To Explore Market Designs. 2021/2022 RPM Base Residual Auction Results. The auction cleared an overall total of 144,477 MW at a clearing price of $50/MW-day, a 64% decrease from the previous auctions clearing price. Also, PJM establishes demand load goals for each zone within its footprint. Value investing screens and valuation tools. In each BRA, PJM seeks to procure a target capacity reserve level for the RTO in a least cost manner while recognizing the following reliability-based constraints on the location and type of capacity that can be committed: The auction produced a price of $34.13/MW-day for much of the PJM footprint, compared to $50/MW-day for the 2022-23 auction in June 2021. The auction produced a price of $34.13/MW-day for much of the PJM footprint, compared to $50/MW-day for the 2022/2023 auction in June 2021. Vistra Reports PJM Auction Results. The auction produced a price of $34.13/MW-day for much of the PJM footprint, compared to $50/MW-day for the 2022/2023 auction in June 2021. PJM Interconnection has procured resources in its capacity auction for 2022-23 at an average of $50/MW per day, the lowest since 2013-14 64% lower than the $140/MW per day set in the most recent auction in 2018. For Immediate Release June 22, 2022 Contact: Michelle Bloodworth MBloodworth@AmericasPower.org. Furthermore, in January, the Federal Energy Regulatory Commission ruled that PJM must remove a net energy and Potential factors contributing to the clearing price results include: May 23, 2028. Author Katherine McCaffrey. June 22, 2022 Contact: Michelle Bloodworth PJM Interconnection Capacity Auction Results Washington, D.C. Americas Power president and CEO Michelle Bloodworth issued the following statement in response to PJM Interconnections Annual Capacity Auction results for the 2023/2024 delivery year: ER22-1796-000, the commission issued a letter order accepting the filing by PJM on behalf of Commonwealth Edison Co. of revisions/modifications to PJM Tariff, Attachment H-13 to terminate the Wholesale Distribution Charge for battery storage operators West Chicago Battery Storage LLC and Joliet Battery Storage LLC. PJM Interconnection announced today the successful procurement of resources in its annual capacity auction to meet electricity needs and ensure reliable service for the 2023/2024 Delivery Year. VST. Suppliers to the grid stretching from New Jersey to Illinois will find out on June 21 whether their bids to provide backup capacity for the On June 24, 2022, in Docket No. Clean Attribute Procurement Task Force To Explore Market Designs. By June, stakeholders overwhelmingly supported the PJM proposal to apply the MOPR only to resources connected to buyer-side market power or those receiving state subsidies that hinged on clearance of the capacity auction. Gavin Bade. The report noted concern about tightening capacity throughout MISO zones, which cover most of Michigan, as well as slimming reserve margins. On June 2, 2021, PJM released the preliminary capacity auction results for June 2022 through May 2023 term. PJM reported that the 2022-2023 BRA saw an additional 3,414 MW of cleared combined cycle gas turbines (CCGT) Explore Inflation hitting The auction produced a price of $34.13 /MW-day for much of the PJM footprint, compared to $50 /MW-day for the 2022/2023 auction in June 2021. Washington, D.C. Americas Power president and CEO Michelle Bloodworth issued the following statement in response to PJM Interconnections Annual Capacity Auction June 17, 2022, 1:00 PM UTC. PJM #5154776 2021/2022 BRA Cleared Capacity Resources As seen in the table below, the 2021/2022 BRA procured 893.0 MW of capacity from new generation and 508.3 MW from uprates to existing or planned generation. On June 30, 2022, in Docket No. VALLEY FORGE, Pa., June 21, 2022 /PRNewswire/ -- PJM Interconnection announced today the successful procurement of resources in its annual capacity auction to meet electricity needs and ensure reliable service for the 2023/2024 Delivery Year. Both plants have capacity obligations that continue through May 2021 and May 2022, respectively. The auction, for delivery year 2022-2023, opened on May 19 and closed on May 25; PJM posted the auction results on June 2. Beyond the 2022/23 BRA, PJM will be holding auctions approximately every six-and-a-half months until it is caught up to the normal three-year-ahead schedule in May 2024 when it conducts the BRA for 2027/28. The revised auction schedule will not only delay the most recent auction but will also delay all other upcoming capacity auctions by about 4.5 months. News June 9, 2022. Prices are higher in some regions due to constraints on the transmission system. The clearing price for the majority of the PJM footprint fell to $50/MW-day, PJM officials announced in a June 2 news release. Last year PJM Interconnection (PJM) published its long-awaited capacity market auction schedule confirming the Base Residual Auction (BRA) for delivery year 2022-23 will be held in May 2021, with the 2023/24 auction following in December 2021.
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