This audio is auto-generated. Please let us know if you have feedback.
Dive Brief:
Prices in the PJM Interconnection’s just-held capacity auction for the 2028-2029 delivery year hit a $325/MW-day price cap across its region, as expected, the nation’s largest grid operator said Tuesday.
The auction left PJM with a roughly 6.8 GW shortfall below the grid operator’s 20% installed reserve margin target — an increase from the last auction’s shortfall of 6.5 GW, its first ever. It also drew only about 525 MW in new resources, including 208 MW of uprates to existing generation, down from 774 MW of new resources in the previous auction, held in December.
Looking ahead, PJM’s board is preparing to file proposals with the Federal Energy Regulatory Commission for a backstop capacity auction and a “connect and manage” framework for data centers, according to Stu Bresler, PJM’s chief operating officer. A filing needs to occur this month for the auction to be held in September as planned, he said Tuesday during a media briefing.
