North America
July 28, 2025
Power & Utilities | Wholesale Markets
Visual Primer Series
Visual Primer: PJM Capacity Auction Prices Rise as Supply-Demand Balance Tightens
The clearing price came in at the $329.17/MW-day price cap, up 22 percent from last year, and the highest in the history of PJM’s capacity auction.
PJM Interconnection LLC's capacity market auction for the 2026/2027 delivery year cleared at $329.17 per megawatt-day (MW-day), nearly 22 percent higher than the clearing price in the previous auction. The clearing price hit the cap recently approved by the Federal Energy Regulatory Commission (FERC) to bring stability to the market after last year’s unprecedented ninefold price surge.
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