EPSA’s comments on PJM Price Collar filing address concerns related to process and urge adherence to sound market principles for future reforms.
Dated filed: March 17, 2025
Venue: Federal Energy Regulatory Commission
Docket No. ER25-1357-000
Summary: On March 17, 2025, EPSA filed comments at the Federal Energy Regulatory Commission (“FERC” or “Commission”) on the PJM Interconnection Price Collar section 205 tariff filing to establish a temporary price cap of approximately $325/megawatt-day (“MW-day”) in Unforced Capacity (“UCAP”) and a price floor of approximately $175/MW-day UCAP for all Reliability Pricing Model (“RPM”) Auctions for the 2026/2027 and 2027/2028 Delivery Years. The PJM Price Collar filing states that the acceptance of this section 205 filing will fully resolve a separate Complaint filed by Pennsylvania Governor Josh Shapiro seeking a PJM RPM capacity market auction price cap.
The EPSA comments do not address the merits of the Price Collar filing, rather EPSA provides broader comments on the process utilized to develop the filing and urges adherence to sound market principles in considering future market reforms that will be needed. The comments also emphasize that the upcoming FERC Resource Adequacy technical conference scheduled for June 2025 is an appropriate venue to consider market improvements; EPSA expresses appreciation to the Commission for scheduling the conference and states that EPSA plans to actively participate in the proceeding.
