Prices Rebound in America's Largest Power Supply Auction as Nukes Fail to Clear

EnerKnol’s Visual Primer – Prices Rebound in America’s Largest Power Supply Auction as Nukes Fail to Clear

EnerKnol Research Reports, EnerKnol Visual Primer, Power & Utilities, PRODUCTS, Wholesale Markets

PJM Interconnection LLC’s annual capacity auction saw clearing prices ramp up 83 percent from a year ago to $140/megawatt-day, rebounding after a sustained fall for two consecutive auctions. Renewables and demand response did surprisingly well especially because they are deemed seasonal assets with limited ability to meet the new stringent performance standards that require year-round capacity. Despite the high prices, the amount of nuclear generation that cleared the auction fell by over a quarter from last year.

Constrained Supply and Increased Demand Push Prices up to $10/MW-day in MISO Auction

EnerKnol’s Visual Primer – Constrained Supply and Increased Demand Push Prices up to $10/MW-day in MISO Auction

EnerKnol Research Reports, EnerKnol Visual Primer, Power & Utilities, PRODUCTS, Wholesale Markets

Nine out of the ten resource zones cleared at $10/MW-day in the Midcontinent Independent System Operator’s sixth annual Planning Resource Auction, up from last year's clearing price of 1.50/MW-day. MISO said that increased demand and lower supply were largely responsible for the higher prices and expects adequate capacity for the planning year starting June 1.

Mid-Atlantic Grid Operator Seeks to Accommodate State Subsidies

Mid-Atlantic Grid Operator Seeks to Accommodate State Subsidies

EnerKnol Research Reports, Power & Utilities, PRODUCTS, Wholesale Markets

PJM Interconnection has unveiled its capacity repricing proposal aimed at accommodating subsidized resources while preserving price integrity in the capacity market. The grid operator said its proposal would meet state goals, unlike an alternative plan that would extend the minimum offer price rule to both new and existing resources (MOPR-Ex), in effect cancelling out the state subsidies. The move echoes a national trend towards reforming competitive electricity markets to ease tensions between their resource adequacy constructs and state policies.

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Mid-Atlantic Grid Operator Seeks to Accommodate State Subsidies

EnerKnol’s Visual Primer – Mid-Atlantic Grid Operator Seeks to Accommodate State Subsidies

EnerKnol Research Reports, EnerKnol Visual Primer, Power & Utilities, PRODUCTS, Wholesale Markets

PJM Interconnection has unveiled its capacity repricing proposal aimed at accommodating subsidized resources while preserving price integrity in the capacity market. The grid operator said its proposal would meet state goals, unlike an alternative plan that would extend the minimum offer price rule to both new and existing resources (MOPR-Ex), in effect cancelling out the state subsidies. The move echoes a national trend towards reforming competitive electricity markets to ease tensions between their resource adequacy constructs and state policies.

Texas Grid Operator Looks to Bolster Energy Prices Amid Renewables Influx

Texas Grid Operator Looks to Bolster Energy Prices Amid Renewables Influx

EnerKnol Research Reports, Power & Utilities, PRODUCTS, Wholesale Markets

The Public Utility Commission of Texas is examining reforms to price formation in the Electric Reliability Council of Texas (ERCOT) energy-only market over concerns of low prices. The proceeding stems from a whitepaper on shortcomings caused by subsidized renewables and other factors expected to interfere with investment decisions and undermine market sustainability. The ERCOT proceeding highlights the ongoing national discussion over the role of organized electricity markets in ensuring fuel diversity and system reliability through pricing mechanisms.

Texas Grid Operator Looks to Bolster Energy Prices Amid Renewables Influx

EnerKnol’s Visual Primer – Texas Grid Operator Looks to Bolster Energy Prices Amid Renewables Influx

EnerKnol Research Reports, EnerKnol Visual Primer, Power & Utilities, PRODUCTS, Wholesale Markets

The Public Utility Commission of Texas is examining reforms to price formation in the Electric Reliability Council of Texas (ERCOT) energy-only market over concerns of low prices. The proceeding stems from a whitepaper on shortcomings caused by subsidized renewables and other factors expected to interfere with investment decisions and undermine market sustainability. ERCOT proceeding highlights the ongoing national discussion over the role of organized electricity markets in ensuring fuel diversity and system reliability through pricing mechanisms.