On December 9, PJM proposed a series of changes to its capacity rules. These changes are designed to address: (i) the high clearing prices in the 2025/2026 auction, and (ii) the increasing risk of cap...
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The good news is that we now know the price of capacity through May 2026. The bad news is that capacity prices have increased by approximately 5x over the last auction. The surge in price was fueled b...
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