PJM’s 2017 capacity auction – the first one to apply the 100-percent Capacity Performance requirement – yielded a clearing price of $76.53/megawatt-day in most of PJM, about 24 percent lower than last year. Cleared capacity of seasonal resources like demand response, solar, and wind fell largely due to the new year-round performance requirement. Lower prices are attributed largely to lower natural-gas prices, lower demand forecasts, and new combined-cycle natural gas units clearing capacity in the auction.Details
Angelique Mercurio, chief executive of EnerKnol, discusses shifts in U.S. midcontinent state policies affecting renewable energy with Argus….
EnerKnol’s Visual Primer – Virginia’s Legislative Package and Dominion’s IRP Reflect New Role for Clean Energy
Virginia has enacted a suite of clean energy bills that will help expand renewable energy and energy efficiency across the state. The legislation increases opportunities for community solar, pumped storage, battery technologies, and green development zones, bringing a remarkable turn in a state that has generally lingered over clean energy development. Amid legislative efforts to advance Virginia’s clean energy future, the state’s largest utility Dominion Energy also presented solar as a central piece of its 2017 Integrated Resource Plan. The new legislative package and the underlying market developments set Virginia up for a sustainable energy policy that supports economic development.Details
EnerKnol’s Visual Primer – FERC Technical Conference Signals Market Reforms to Accommodate State Policies
The Federal Energy Regulatory Commission (FERC) held a technical conference to determine whether state policies and objectives can be achieved through market mechanisms of the Eastern RTOs/ISOs. Discussions signal market reforms that will focus on solutions that harmonize and accommodate state policy requirements with wholesale markets. Reforms will likely address market mechanisms to value resource attributes and internalize carbon costs within wholesale electricity prices.Details