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PJM Seeks Delay For 2022/2023 RPM Base Residual Auction

August 14, 2018

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Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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PJM Interconnection, L.L.C. petitioned FERC for a one-time waiver of provisions of the PJM Open Access Transmission Tariff as necessary to enable PJM to delay its 2019 Base Residual Auction (BRA) for the 2022/2023 Delivery Year until August 14-28, 2019, to the extent FERC extends the comment process in a proceeding reviewing RPM

"The proposed auction delay is warranted in these unique circumstances where the Commission has found PJM’s current Tariff rules on auction minimum offer prices to be unjust and unreasonable, and has initiated a proceeding to determine the just and reasonable replacement rules," PJM said in its filing at FERC

See background on FERC's direction on changes to RPM, including allowing load associated with state-subsidized resources to exit the RPM auction, here

PJM noted that the Organization of PJM States, Inc. has sought an extension, which PJM supports, to extend the initial and reply comment deadlines of August 28 and September 27 in the RPM review.

"PJM emphasizes that this Tariff waiver is needed only if the Commission grants the OPSI Motion," PJM said

If the Commission elects to maintain the current schedule and the January 4, 2019 final order date, PJM can conduct the next BRA on time in May 2019

"PJM emphasizes that this delay in the 2019 BRA will only be a short, one-time delay in a single auction affecting a single Delivery Year that will not unduly harm parties. Indeed, granting the waiver request will benefit market participants and other third parties by providing more certainty to the marketplace," PJM said

PJM is seeking waivers of related dates in the RPM process associated with the potential delay until August 14. For example, PJM is also requesting waiver of the requirement to post certain BRA parameters on February 1 in advance of that auction. Moving this deadline to May 1, 2019 would allow PJM to determine and post such auction parameters after the suggested final order date and ensure that the parameters posted are applicable to the BRA PJM will hold in August 2019, PJM said in its filing.

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