Dr. Joseph Bowring, of Monitoring Analytics, LLC, the independent market monitor for PJM, presented his view of the markets during the Year in Review presentation at the PJM Annual Meeting of Members Tuesday.
He said that Capacity Performance has been a success for PJM. The “pay-for-performance, no excuse” design is a big improvement over the prior system.
He remains optimistic about the markets in PJM. He said competition has worked in PJM and markets have kept costs down by being flexible and adaptive. PJM’s markets can and do work, providing reliability in an effective, least-cost manner.