PJM’s Latest Capacity Auction: A Tough Market for Nuclear and Demand Response

By [email protected] PJM, the entity responsible for transmission grids from the mid-Atlantic coast to the shores of Lake Michigan, just closed its first auction for grid resources under its new capacity-performance regime. The results are bad for both demand response and some nuclear power plants.

PJM announced Tuesday that its Base Residual Auction for capacity for the 2020-2021 period cleared a price of $76.53 per megawatt-day, well below the prices of $80 to $100 from last year’s auction. Capacity prices were higher in more congested or heavily populated parts of PJM’s territory. But with the exception of its Eastern Maryland region, they

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