Power generators urge FERC to reject complaint concerning PJM auction results and restore certainty to power markets.
Filed: May 1, 2024
Docket No.: EL24-104-000
Summary: The Electric Power Supply Association (EPSA) joined the PJM Power Providers Group (P3) on comments in opposition to the Load Parties’ complaint against PJM Interconnection, L.L.C. (PJM) concerning the capacity prices for the 2024/2025 Delivery Year.
Specifically, the Load Parties’ complaint is conditional and requests that in the event the Commission grants the PJM Petition in the underlying Docket No. ER23-729-002 to recalculate the Base Residual Auction (BRA) prices for the 2024/2025 Delivery Year, then the Commission should: (1) grant the complaint with a refund effective date of April 22, 2024; (2) find that the recalculated 2024/2025 BRA prices are unjust and unreasonable; (3) direct PJM to maintain the February 2023 BRA and the Third Incremental Auction results as the just and reasonable replacement rate; and, (4) take any other actions the Commission may deem necessary and appropriate.
The joint EPSA/P3 comments urge the Commission to forge a path forward that restores certainty for capacity prices and obligations for the 2024/2025 Delivery Year. We emphasize that PJM has offered the Commission a reasonable path to do so, and the Load Parties have offered the Commission a complaint that will completely upend that goal.
EPSA and P3 therefore implore the Commission to reject the complaint and move forward with the legally durable path PJM has offered.
