PJM presented a summary of the 2020/2021 Base Residual Auction results and report to stakeholders at the Markets and Reliability Committee meeting May 25.
Jeff Bastian, manager – Capacity Market Operations, broke down the auction results into offered and cleared megawatts in each locational deliverability area.
In other committee business Thursday, stakeholders approved a proposed problem statement and issue charge for a generator primary frequency response requirement in PJM.
Primary frequency response is the first stage of frequency control, involving the automatic response of a generator to adjust output to dampen large changes in frequency. It is the first line of defense for mitigating system frequency disturbances and critical to the system restoration process.
A senior task force will evaluate the existing state of frequency response in PJM and determine if additional language (operating agreement, tariff, manual) will be needed for frequency response capability requirements for existing and future PJM resources. The task force also will discuss and recommend compensation changes if appropriate or necessary.
Stakeholders also approved a proposed problem statement and issue charge on enhancements to long-term financial transmission rights modeling and potential congestion impacts for future transmission system changes. PJM’s current network model for the long-term FTR auction does not include any future transmission system expansions. There also is no criterion for including a specific future project in the FTR auction model beyond six months.
Through the Markets Implementation Committee, stakeholders and PJM will explore ways and criteria to ensure appropriate integration of future transmission capability into the FTR auction model without violating firm transmission customer priority rights to the transmission system entitlements.
Endorsements/Approvals
- Changes to Manual 03: Transmission Operations
- Revisions to the Tariff and Manual 14D: Generator Operational Requirements
- Changes to Manual 36: System Restoration
- Revisions to Manual 13: Emergency Operations
- Solution package for the annual revenue requirements for new black start units
- Pseudo-tied generators and dynamic schedules meter correction proposal and governing document revisions
- Revisions to the Incremental Auction Senior Task Force charter
- Several revisions to Manual 06: Financial Transmission Rights. Two friendly amendments and updates to the FTR Forfeiture sections were delayed until the June MRC meeting.
First reads/updates
- Manual 14A: Generation and Transmission Interconnection Process and the Tariff
- Manual 14F: Competitive Planning Process, including the decisional diagram
- Manual 14C: Generation and Transmission Interconnection Facility Construction (alignment of existing manual language with work of the Designated Entity Design Standards Taskforce)
- Manual 20: PJM Resource Adequacy Analysis
- Manual 28: Operating Agreement Accounting
- Manual 39: Nuclear Plant Interface Coordination