PJM Capacity Auction for 2022/2023 Delivery Year Opens

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PJM Interconnection opened the bidding window for its annual capacity auction today, May 19. This auction procures capacity for the June 2022 to May 2023 delivery year.

The bidding window will close May 25, and the results will be reported on June 2.

The 2022/2023 capacity auction, or Base Residual Auction, was originally scheduled to be held in May 2019, but was postponed pending FERC’s approval of new capacity market Minimum Offer Price Rules (MOPR). PJM cleared the final requirement to reestablish the auction schedule with FERC’s Nov. 12, 2020, order.

The last annual capacity auction, for the 2021/2022 delivery year, was held in May 2018.

PJM’s capacity market, called the Reliability Pricing Model, ensures long-term grid reliability by securing the appropriate amount of power supply resources needed to meet predicted energy demand on a three-year-forward basis.

Learn more about the capacity market at the PJM Learning Center.