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Generation Owner: PJM Capacity Market "Deeply Flawed," and "Needs to be Fixed on Many Levels" An owner of generation in PJM has said that the RTO's Reliability Pricing Model capacity market is "deeply flawed, and needs to be fixed on many levels."
Specifically, Duke Energy Ohio said in comments to FERC filed on August 30 that, "Duke Energy Ohio, Inc. ('DEO') agrees that RPM is deeply flawed, and needs to be fixed on many levels, and generally supports PJM's efforts to identify and correct individual flaws, in separate filings, with the understanding that none of these filings occurs in a vacuum – necessarily they are all related, and have ramifications for one another."
Duke Energy Ohio's comments were specifically in response to (and in protest to) proposed changes to the deadlines for capacity owners to seek a waiver from the must-offer requirement in PJM, such as in the case of generation deactivation.
Duke Energy Ohio said that, "PJM's generation deactivation filing in this docket is the second in a series of filings expected this fall and winter, and into next year, to fix RPM" (emphasis added).
The view from a generation owner that multiple filings are needed to "fix" the PJM capacity market rebuts any notion that the capacity market is "working," and is a model that should be copied.
And Duke Energy Ohio is not alone in this view that the PJM capacity market is not working. As previously reported:
Calpine Exec Says Not All New Capacity Clearing PJM Capacity Market Likely to Get Built
Exelon Likens Increased Reliance on "Planned" (New, Cleared) Resources in Capacity Market as "Anomaly" Requiring a "Fix""
AEP CEO: Treatment Under PJM Capacity Market is "Socialism"
NRG CEO Admits Merchant Build "Nearly Impossible" in Any Market, Including Capacity Markets
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September 3, 2013
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Copyright 2010-13 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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