Energy Evolution
Grid operator PJM juggles reforms as power auction results hit price cap again
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On July 14, grid operator PJM released the results of its latest capacity market auction for the 2028-2029 delivery year. Prices hit the federally approved cap of $325/megawatt-day, but the amount of procured capacity came up short of PJM's reliability requirement by 6.8 gigawatts.
In other words, prices went as high as they were allowed to go but still didn't incentivize enough generation to…