PJM Publishes Response to 2022 State of the Market Report

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PJM has posted its response to the 2022 State of the Market report published by Monitoring Analytics, PJM’s Independent Market Monitor.

The Independent Market Monitor’s annual report comprises recommendations that aim to enhance the competitiveness, efficiency and durability of PJM’s markets.

In its response (PDF), PJM has specifically reviewed the 12 new recommendations contained in the 2022 annual report and provided initial responses regarding the applicability of each recommendation to the current market and any potential next steps for pursuing design enhancements. Many of the recommendations are related to stakeholder engagements that are currently underway.

PJM’s response focuses on key areas highlighted in the Monitoring Analytics report:

  • Energy Market
  • Capacity Market
  • Demand Response
  • Ancillary Services
  • Financial Transmission Rights and Auction Revenue Rights

PJM’s report provides background on where actions in each area stand within the stakeholder or regulatory process, along with PJM’s position on the topic or on a path forward, as well as the Independent Market Monitor’s recommendations. The report also indicates the status of all the recommendations contained in the 2022 State of the Market report (PDF).