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Prices Fall In 2023-24 PJM Capacity Auction
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PJM has posted results from its base residual auction for capacity (BRA) under the reliability pricing model (RPM) for the 2023-24 delivery year
Clearing prices were generally lower than the 2022-23 delivery year
In the BRA for the 2023-24 delivery year, clearing prices were as follows ($/MW-day):
For comparison, capacity clearing prices in the BRA for 2022-23 were as follows ($/MW-day)
Per PJM's auction report, the Adjusted Preliminary Zonal Capacity Price ($/MW-day) resulting from the 2023-24 BRA is:
*Obligation affected by FRR quantities
**Adjusted Preliminary Zonal Capacity Price includes adjustment to cover funding of PRD Credits.
PJM said that as a result of lower prices, total capacity was procured at a cost of $2.2 billion, compared with
approximately $4 billion for the current 2022/2023 Delivery Year.
The total procured capacity in the 2023-24 auction plus the FRR resources represents a 20.3% reserve margin, PJM said
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June 21, 2022
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Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
2023-24 BRA
Rest of RTO $34.13
MAAC $49.49
BGE $69.95
DPL-South $69.95
2022-23 BRA
Rest of RTO $50.00
MAAC $95.79
EMAAC $97.86
BGE $126.50
COMED $68.96
DEOK $71.69
AE $49.59
AEP * $34.20
APS $34.20
ATSI $34.20
BGE $71.62
COMED $34.20
DAYTON $34.20
DEOK * $34.20
DLCO $34.20
DOM * $34.20
DPL $56.57
EKPC * $34.20
JCPL $49.59
METED $49.70
OVEC $34.20
PECO $49.59
PENLC $49.70
PEPCO $49.70
PL $49.70
PS $49.59
RECO $49.59
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