UCAP (Unforced Capacity) is the megawatt value of a capacity resource in the PJM Capacity Market. For generating unit, the unforced capacity value is equal to installed capacity of unit multiplied by (1- unit’s EFORd). For demand resources and energy efficiency resources, the unforced capacity value is equal to demand reduction multiplied by Forecast Pool Requirement.

Source: https://www.pjm.com/Glossary

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PJM’s Updated Capacity Auction Schedule | Capacity Watch Blog

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The PJM BRA for delivery year 2026/27 will take place in a few weeks. PJM is 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. The subsequent PJM Capacity Auction is scheduled in December. PJM is scheduled to open the offer window for 2027/28 BRA on December 4th for market participants. The auction window closes on December 10th, and PJM will post auction results on December 17th, 2025.

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