PJM To Hold Series Of Workshops On Capacity Market Design, Enhancements

PJM announced that it will host a set of workshop sessions, "to discuss potential capacity market enhancement."

"Through these workshop sessions, PJM will share its thoughts on the capacity market, gather robust stakeholder feedback, and determine a path forward for advancing potential market enhancement," PJM said in a market notice

"It is important to note that PJM believes it is critical to continue with its auction schedule as approved by the Federal Energy Regulatory Commission (FERC), and intends to adhere to this unless and until changes are approved by FERC," PJM said

The proposed workshop sessions and timing are as follows:

Session 1: Framing the Issue (Feb. 12)

In this first session, PJM will discuss certain historical elements of the capacity market that may assist in framing this issue with stakeholders. PJM will then provide its perspective on framing the scope of capacity market enhancement to be considered through this process, including its thinking on certain principles upon which a potential enhancement can be evaluated. PJM will also provide its perspective on how this discussion can progress into an augmented stakeholder process and the timing for completion of that contemplated process.

Session 2: Stakeholder Feedback (March 4)

In this second session, the PJM stakeholders are invited to discuss their desired framing of capacity market enhancement. Specifically, PJM would like to hear feedback, at a minimum, from the stakeholder community on the following inquiries:

• What problem are we trying to solve through this effort?

• Do you agree with PJM that we should be attempting to advance this discussion at this time?

• What are the principles that possible enhancement should be built upon?

Session 3: Market Design Proposals (March 12)

In this third session, the PJM stakeholders are invited to discuss specific market design proposals for consideration.

Session 4: Next Steps (March 26)

In this fourth session, PJM will provide its feedback around Sessions 2 and 3. PJM will then facilitate a discussion around 'next steps' for this endeavor.