Agenda

I. Recent and Historical Capacity Auctions

  • PJM Annual/Base Capacity Prices
  • PJM Base, Incremental, and Transition Auctions

II. Recent Changes in PJM Market Design

  • Several VRR Curve Changes
  • Capacity Performance

III. Market Fundamentals

  • Capacity Offer Prices with Capacity Performance
  • Downward-Drifting Load Forecasts
  • The Evolving Role of Demand Response
  • New Generation Entry
  • Why are Prices So Far Below PJM's "Net CONE"?

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