PJM on July 30 filed its proposal to address concerns with the Minimum Offer Price Rule (MOPR) in the PJM capacity market.
The proposal, selected by the PJM Board and voted on by PJM members, works to accommodate state policy and self-supply business models, addresses attempted exercises of buyer-side market power, and creates a sustainable market design by keeping clearing prices consistent with supply-and-demand fundamentals.
PJM made its filing with the goal of incorporating changes into the 2023/2024 Delivery Year Base Residual Auction, currently scheduled for December 1.
The PJM proposal achieved consensus under a unique, accelerated stakeholder process, called the Critical Issue Fast Path (CIFP). This was the first time the PJM Board has employed the CIFP process, an alternative to the normal stakeholder process designed to expeditiously resolve issues that are contentious or time sensitive.
Read the filing (PDF) at the PJM website.