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 ...

This story was originally published on Utility Dive. To receive daily news and insights, subscribe to our free daily Utility Dive newsletter. ISO New England aims to overhaul its capacity auction process by buying capacity a month ahead of time instead of three years in advance, according to a proposal filed with the Federal Energy Regulatory Commission on Dec. 30. The proposal to switch to a “prompt” capacity auction framework in June 2028 would bring a range of benefits to New England, including making ...

This story was originally published on Utility Dive. To receive daily news and insights, subscribe to our free daily Utility Dive newsletter. Dive Brief: The Edison Electric Institute is calling for ending an “overreliance” on the PJM Interconnection’s capacity market, partly by giving states and utilities a more proactive role in procuring power supplies, according to a letter sent Tuesday by the trade group for investor-owned utilities to the grid operator. PJM’s capacity market has failed to deliver ...