PJM recently updated its Capacity Auction schedule for the 2026/27 Base Residual Auction. The auction was set to begin in early December 2024 but has now been delayed and is scheduled to take place in early July 2024. PJM is now scheduled to open the offer window for the 2026/27 BRA on July 9th, 2025 for market participants. The Capacity auction window will close on July 16th, and PJM plans to post the auction results on July 22nd.
This update provides a high-level overview of our recently published MISO Generation Asset Monitor (GAM) report and database for November, 2024. The MISO GAM tracks the Interconnection queue in MISO for additions, forecasts plant retirements and plants deemed at risk of retirement, and provides an outlook for the timeline of renewable generation projects in MISO.
This quarter’s NYISO Renewables Watch update includes ESAI’s latest updated Tier 1 REC supply and demand outlook and assesses New York’s progress towards meeting it’s 70% by 2030 Renewable Energy requirement. We compare New York’s RES requirements with ESAI’s Projections (MWh) to assess the projected deficit.
The NYISO Winter Strip Auction window opened today, starting a series of critical events in the NYISO Winter Capability Period for 2024/25. The New York Independent System Operator (NYISO) manages the state of New York’s energy needs, ensuring a reliable power supply during the colder months. This blog post will delve into some details of the NYISO Installed Capacity Market for the Winter 2024/25 season, shedding light on auction schedules, clearing price volatility, and notable changes compared to the previous winter.
This update provides a high-level overview of our recently published NYISO Generation Asset Monitor (GAM) report and database. The NYISO GAM tracks the Interconnection queues for additions, forecasts plant retirements and plants deemed at risk of retirement, and provides an outlook for the timeline of renewable generation projects in PJM, MISO, NYISO and ISO-NE.
This update provides a high-level overview of our recently published PJM Generation Asset Monitor (GAM) report and database. The PJM GAM tracks the Interconnection queues for additions, forecasts plant retirements and plants deemed at risk of retirement, and provides an outlook for the timeline of renewable generation projects in PJM, MISO, NYISO and ISO-NE.
The 2026/27 PJM RPM Base Residual Auction is scheduled for early December. Ethan Howland reports in today’s Utility Dive that according to Morgan Stanley and ESAI Power’s Scott Niemann, PJM capacity auction prices could plausibly clear at the price cap. Whilst clearing at the cap is a “very plausible” outcome, there are scenarios where pricing clears at “substantially” lower prices.
We will soon publish our Capacity Watch for PJM report, which provides a comprehensive analysis of market drivers and recent developments, including Market Rules Changes for Capacity Accreditation (ELCC & CIFP), Increased Demand Forecast for Data Centers & AI and Retirement Drivers: At-risk assets driven by coal ash rules.
ESAI Power’s latest Emissions Watch update, issued on May 16, 2024, provided our customers with our analysis of the four final rules issued by the US Environmental Protection Agency (EPA) in April 2024, including the Greenhouse Gas Rule (GHG), the Updated Effluent Limitation Guidelines (ELGs), the Updated Mercury and Air Toxics Standards (MATS) and the Coal Combustion Residuals (CCR) Rule.
The NYISO Summer Capability Period will begin on May 1st, with the following auction schedule:
Wednesday, March 27th – The NYISO ICAP Summer 2024 Strip Auction Bid Period Opens.
Thursday, March 28th – The Summer Strip Auction Bid Period closes.
Monday, April 1st – Results of the auction are posted.
Tuesday, April 9th – First monthly auction for Summer 2024.
April 24th – 25th – May Spot Market Auction.
April 29th – May Spot Market Auction results are posted.
ESAI’s Capacity Watch update to clients discusses the key auction parameters, changes in supply since Summer 2023/24, and ESAI’s forecast for the Summer period. ESAI’s NYISO Capacity Watch update includes predicted Summer 2024 Clearing prices for NYCA, Zone J, Zone K, and the G-J Locality.
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ESAI Power is a market research and consulting firm that delivers focused analysis of the wholesale power markets in the Northeast region of the US: PJM, NYISO, and ISO-NE. Since 2001, ESAI has been providing market-focused research product content and custom consulting services for Northeast power market participants including investors (banks, private equity, & hedge funds) & developers, generation owners & operators, utilities & retail electricity suppliers, regulators & RTOs, traders, and end-users & buyers.