PJM Capacity Prices Jump 60% In EMAAC, Lower YoY For RTO, In 2020/21 Auction

PJM's base residual auction for the 2020-21 delivery year, the first auction which exclusively procured 100% capacity performance resources, saw capacity prices jump in EMAAC, with rest-of-RTO prices down versus the year-ago auction

Capacity clearing prices for 2020-21 were as follows ($/MW-day)

        Capacity   
LDA    Performance   
RTO       $76.53
MAAC      $86.04
EMAAC    $187.87
COMED    $188.12
DEOK     $130.00

For comparison, capacity clearing prices for 2019-20 base capacity and the capacity performance product had been as follows ($/MW-day)

        Capacity       Base        Base
LDA    Performance   Capacity      DR/EE 
RTO       $100.00      $80.00      $80.00
EMAAC     $119.77      $99.77      $99.77
PEPCO     $100.00      $80.00       $0.01
BGE       $100.30      $80.30      $80.30
COMED     $202.77     $182.77     $182.77

The base residual auction for the current delivery year (2016-17) had produced an RTO clearing price of $59.37/MW-day

Per PJM's auction report, the Preliminary Zonal Net Load Price ($/MW-day) resulting from the 2020-21 BRA is:

             2020-21
Zone     Preliminary Zonal 
          Net Load Price 
            ($/MW-day)
AE           $174.85
AEP *         $76.83
APS           $76.83
ATSI          $76.83
BGE           $86.63
COMED        $183.14
DAYTON        $76.83
DEOK *       $103.39
DLCO          $76.83
DOM           $76.83
DPL          $174.85
EKPC *        $76.83
JCPL         $174.85
METED         $86.63
PECO         $174.85
PENLC         $86.63
PEPCO         $86.63
PL            $86.63
PS           $174.85
RECO         $174.85

* Obligation affected by FRR quantities

See Also:

Auction Results

Pricing Points

Auction Narrative Report