On November 30, PJM made two filings with the Federal Energy Regulatory Commission regarding energy price formation.
PJM made one filing on its own behalf addressing questions related to settlement intervals and compliance deadlines. The second was a joint filing with the Southwest Power Pool related to proposed shortage pricing reforms.
In September, the FERC issued a notice of proposed rulemaking on energy price formation. The notice proposed that organized markets settle real-time energy and operating reserve transactions financially at the same time interval on which they dispatch those resources.
The notice also proposed reforms related to when organized markets invoke shortage pricing.