Waiver not a factor in PJM power prices over $1,000/MWh: report
The PJM Interconnection had thousands of times and places where nodal prices exceeded $1,000/MWh this winter, but these prices were not caused by a waiver of a $1,000/MWh cap on incremental electricity offers in PJM, a new report shows.
On Monday, Monitoring Analytics, PJM’s independent market monitor, filed with the Federal Energy Regulatory Commission a redacted version of a report designed to show what effect, if any, resulted from FERC’s January 16 decision to grant a temporary waiver allowing energy offers to go as high as $1,800/MWh, compared with the usual $1,000/MWh cap.
The waiver, which covered January 16 through March 31, also permitted make-whole payments to generators with costs exceeding $1,800/MWh.
