News
October 15, 2024 E&E News: PJM delays capacity auction amid market price controversy
“All signs indicate that if the December auction were to go forward as scheduled, ratepayers would pay astronomic prices for no benefit,” Clara Summers, who manages the Consumers for a Better Grid Campaign for the Citizens Utility Board of Illinois, said in an email. “We want to get back on schedule as soon as possible, but the market rules need to make sense first. PJM needs to fast-track reforms so price signals can reconnect with reality.”
The nation’s largest power market proposed to delay its planned December capacity market auction as it faces rising turmoil over the dramatic price spikes recorded at its last auction that critics contended were caused by skewed market rules.
“All signs indicate that if the December auction were to go forward as scheduled, ratepayers would pay astronomic prices for no benefit,” Clara Summers, who manages the Consumers for a Better Grid Campaign for the Citizens Utility Board of Illinois, said in an email. “We want to get back on schedule as soon as possible, but the market rules need to make sense first. PJM needs to fast-track reforms so price signals can reconnect with reality.”
August 19, 2024 States Newsroom: Market problems, poor planning causing price hikes in nation’s largest electric market, critics contend
“The tools to enhance reliability are in PJM’s hands,” said Clara Summers, campaign manager for Consumers for a Better Grid, a watchdog group that is part of the Citizens Utility Board of Illinois. “Instead PJM is dragging its feet on the clean energy transition and doing everything it can to keep fossil fuel plants online and ultimately ratepayers are the ones who suffer from this shortsightedness.”
After years of climbing electric prices nationwide, customers in the United States’ largest power market are about to get squeezed harder.
“The tools to enhance reliability are in PJM’s hands,” said Clara Summers, campaign manager for Consumers for a Better Grid, a watchdog group that is part of the Citizens Utility Board of Illinois. “Instead PJM is dragging its feet on the clean energy transition and doing everything it can to keep fossil fuel plants online and ultimately ratepayers are the ones who suffer from this shortsightedness.”
August 12, 2024 CUB Q&A: ‘Capacity’ price spike means ComEd supply price will shoot up June 2025
A record price spike in a recent electricity “capacity auction” means the supply price for Commonwealth Edison will likely increase significantly in June of 2025. Read CUB’s Q&A.
A record price spike in a recent electricity “capacity auction” means the supply price for Commonwealth Edison will likely increase significantly in June of 2025. Read CUB’s Q&A.
August 5, 2024 RTO Insider: PJM Market Participants React to Spike in Capacity Prices
Generation owners say the increase in PJM capacity prices is the signal they need to invest in new development, while consumer advocates say the backlogged interconnection queue could limit the ability for market participants to react.
Generation owners say the increase in PJM capacity prices is the signal they need to invest in new development, while consumer advocates say the backlogged interconnection queue could limit the ability for market participants to react.
July 31, 2024 CUB Statement On Capacity Market Price Spike That Will Impact June 2025 Com Ed Bills
PJM Interconnection announced the results of its latest capacity auction. For the majority of the PJM region, capacity prices for the 2025/26 delivery year hit record highs, to $269.92/MW-day, up from $28.92/MW-day in the last auction. This will impact ComEd electricity bills in June of 2025. Capacity prices are a portion of ComEd’s supply rate–it is not immediately clear how much this will increase overall bills.
PJM Interconnection announced the results of its latest capacity auction. For the majority of the PJM region, capacity prices for the 2025/26 delivery year hit record highs, to $269.92/MW-day, up from $28.92/MW-day in the last auction. This will impact ComEd electricity bills in June of 2025. Capacity prices are a portion of ComEd’s supply rate–it is not immediately clear how much this will increase overall bills.