Although PJM’s board views the auction as a temporary measure, Jefferies equity analysts said Tuesday they expect this “to snowball into more.” The equivalent of more than 12.5 GW of gas-fired, combined cycle capacity could be built to offset shortfalls for PJM’s 2028/29 and 2029/30 capacity auctions, the analysts estimated.The board directed PJM staff to consider mechanisms that assign costs of a backstop auction to utilities and other load-serving entities that are short on power supplies because of load ...