MC Oks Energy Cap Language, LC Charter Revisions

At Members Committee meeting Thursday, stakeholders approved energy market offer cap revisions for the PJM Tariff and operating agreement.

Lisa Morelli, manager – Real-Time Market Operations (pictured at the earlier MRC meeting), presented revisions to the language regarding the exclusion of the 10 percent adder from cost-based offers above $2,000 a megawatt-hour in the tariff.

The language clarifies what the Federal Energy Regulatory Commission already ordered; it does not change the implementation and will remain effective unless commission takes action. The FERC recently issued a notice of proposed rulemaking on the energy market offer cap.

The committee approved the language with one abstention and zero objections. Earlier Thursday, the Markets and Reliability Committee passed the language by the same vote.

The MC also approved revisions to the Liaison Committee charter, which included a way to cancel planned LC meetings with the Board of Managers.

Katie Guerry,  brand new chair of the Members Committee, presented an opening statement about balancing pocket book interests with advocating “for the right solution, which is not always the best option for our bottom line near term. Ultimately, we all benefit in the long run from a healthy and balanced market.

“I truly appreciate the opportunity to be a part of this process, and take seriously the responsibility of the real-world implications of the decisions we make here.”

She also recognized the significance of women leading PJM’s two highest stakeholder positions, citing vice chair Susan Bruce of the PJM Industrial Customer Coalition.

“PJM should be commended for fostering an environment where this is a normal occurrence, because I can assure you there are many places where it is not.”