PJM Announces Results of the 2023/2024 Annual Capacity Auction: Prices Are Significantly Lower Following Implementation of Focused MOPR and Revised Offer Cap

PJM Interconnection has announced the results of its annual capacity auction, or base residual auction (“BRA”), for the 2023/2024 Delivery Year (“DY”). It is important to note that this long-delayed auction is for the upcoming delivery year, not the typical three year-ahead auction schedule.