August 26 UPDATE
The first transitional auction to integrate Capacity Performance into 2016-2017 resources began today as scheduled. Late on August 25, the Federal Energy Regulatory Commission denied a complaint that would have delayed the start of the auction. The order denying the complaint is here.
The first of PJM’s two transitional auctions, to integrate Capacity Performance into the capacity marketplace, will open August 26 and close on August 27.
Results of the auction, which will cover the 2016-2017 delivery year, will be posted to pjm.com after 4 p.m. on Monday, Aug. 31.
The second transition auction, for the 2017-2018 delivery year, will open September 3 and close September 4. Results will be posted after 4 p.m. on September 9.
The transition auctions allow supply resources to commit under the Capacity Performance requirement. Capacity Performance, a “pay-for-performance” initiative, places new requirements on supply resources to perform when PJM calls on them, particularly during system emergencies.
PJM held its base residual auction, the first to feature Capacity Performance, August 10-14, with results announced on Friday, Aug. 21.
The Capacity Market page on pjm.com has additional information about the auctions. This is also where auction results will be posted.