PJM Auction Track Record

PJM Capacity Auction Track Record 2016 – 2023

Power Generator owners and their investors are placing big bets (often in the hundreds of millions of dollars) in the PJM, MISO, ISO-NE and NYISO Capacity Markets. As Mark Christie, FERC Commissioner, put it in March, 2023: “Capacity Markets are characterized by such hopeless complexity and impenetrable opacity that they represent the example of a game that only insiders can play and win.”

Capacity Watch Blog

NYISO Capacity Prices Volatile Heading into Winter 2023-24 | Capacity Watch Blog

As the days grow shorter and temperatures drop, the New York State energy market gears up for another winter season. The New York Independent System Operator (NYISO) manages the state’s energy needs, ensuring a reliable power supply during the colder months. This blog post will delve into the critical details of the NYISO Installed Capacity Market for the Winter 2023/24 season, shedding light on auction schedules, clearing price volatility, and notable changes compared to the previous winter.

Congestion Watch Blog

RGGI Auction 61 – Clearing Prices Up Nearly 9% | Emissions Watch Blog

The most recent RGGI quarterly auction (Auction 61) was held on September 6th. The clearing price was $13.85/ton, 8.8% higher than the clearing price of $12.73/ton on June 7, 2023. Auction 61 represents the largest increase in clearing price in percentage terms since Auction 54 in December 2021.

Emissions News

Will Virginia leave RGGI? | Emissions News

At the end of July, regulations were published to withdraw Virginia from the Regional Greenhouse Gas Initiative (RGGI). The regulation, which was to take effect on August 30, 2023, requires that Virginia withdraw from the RGGI program at the end of this year. As expected, a legal challenge was filed immediately by the SELC.

Generation Asset Monitor

PJM Interconnection Process Update | Generation Asset Monitor Blog

Earlier this month, PJM issued an update on its new process for studying New Service Requests from generators seeking Interconnection Service Agreements (ISAs) or Wholesale Market Participant Agreements (WMPAs). This new process was approved by the Federal Energy Regulatory Commission (FERC) on November 29, 2022, and was implemented to address the significant backlog of generation projects with queue positions awaiting ISAs or WMPAs.

Capacity Watch Blog

NYISO Capacity Price Forecast | Capacity Watch Blog

In ESAI’s latest Capacity Watch update, ESAI delivers our NYISO Capacity Market Forecast out to 2032/33 Capability Year.

Congestion Watch Blog

RGGI Auction 60 – Clearing Price of $12.73/ton | Emissions Watch Blog

RGGI quarterly Auction 60 was held on June 7, 2023. The clearing price was $12.73/ton, 1.8 percent higher than the clearing price of $12.50/ton on March 8, 2023 (see Figure 1). Auction 60 represents the first auction with a clearing price higher than the previous auction since Auction 56 in June 2022, reversing the recent trend of declining clearing prices.

Capacity Watch Blog

MISO PRA Scheduled to start April 18th | Capacity Watch Blog

ESAI brings 20 years of experience analyzing and forecasting the Capacity Markets in PJM, ISO-NE and NYISO, into our new Capacity coverage of MISO. ESAI also maintains a MISO Energy Asset Database (Delivered to subscribers in excel) that tracks the MISO Interconnection queue to forecast Renewables Additions that produces a Probability Weighted Renewable Additions forecast, any Fossil Additions, and also any plant Retirements or forecasting plants at risk of retirement. 

Platts 2023

Platts Global Power Markets™ Conference April 17-19

The Platts Global Power Markets™ Conference connects the power industry at the Wynn Hotel in Las Vegas, from April 17-19. Schedule a meeting with our ESAI Team at the conference to learn how we can help you make better investment decisions. Our Tom Bausemer and Brian Doyle will be attending the event and if you are interested in meeting up with them to discuss our wholesale power market research reports, please fill out the form to the right.

Congestion Watch Blog

RGGI Auction 59 – Clearing Price of $12.50/ton | Emissions Watch Blog

The most recent RGGI quarterly auction (Auction 59) was held on March 8, 2023. The clearing price was $12.50/ton, 3.8% lower than the clearing price of $12.99/ton on December 7, 2022 (see Figure 1). Auction 59 represents the third consecutive auction with a clearing price at least three percent lower than the previous auction. The trend of lower clearing prices in recent auctions is notable given that clearing prices had increased in 12 consecutive auctions from September 2019 through June 2022.