PJM To Seek Delay In Capacity Auctions, Including 2025/2026 BRA

PJM said that it will seek a delay of the upcoming capacity market auctions, including the scheduled June 2023 Base Residual Auction (BRA) for the 2025/2026 delivery year

Noting that, as previously reported, PJM is currently evaluating various capacity market reforms, PJM said in an email to members that, "the [PJM] Board recognized that, despite the implications of auction delay, reforms are necessary to the capacity market design in order to conduct an effective Base Residual Auction."

"The Board therefore determined that PJM should postpone executing any further auctions under the current rules until we go through the stakeholder process and file resulting rule change proposals with FERC," PJM said in the email

The sought delays are subject to FERC approval. PJM will formally seek the delays in an upcoming FERC filing.