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Archive for the ‘Market Monitoring’ Category

Market Monitor – PG&E files Notice of Intention to declare Bankruptcy

January 14, 2019: Pacific Gas and Electric, California’s largest investor-owned utility, filed an official 15-day notice that it intends to file petitions to reorganize under Chapter 11 of the U.S. Bankruptcy Code on or about January 29th. A bankruptcy filing by PG&E will have a limited impact on our customers as the utility will likely […]

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Market Monitor – New Jersey Expanded Solar Program

On May 23, New Jersey Governor Phil Murphy signed into law the Act Concerning Clean Energy (the act), Assembly Bill A-3723, establishing new clean energy and energy efficiency programs and modifying New Jersey’s renewable energy portfolio standards (RPS). The act, which is effective immediately, directs the Board of Public Utilities (Board) to (i) increase the current RPS requirements; […]

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Market Monitor – PJM 2021/22 Base Residual Capacity Auction results in a more than doubling in Rest of RTO zone prices.

On May 23, the PJM Interconnection’s 2021/2022 Base Residual Auction results were released. The clearing price for the baseline “Rest of RTO” and many other zones increased significantly with the Rest of RTO price surging ~83% to $141/MW-day. ATSI saw the largest increase in capacity prices, rising over 100% to $158/MW-day. BGE saw an 87% increase […]

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Market Monitor – ERCOT Coal Retirements Causing Summer Price Volatility

What happened? In October 2017, Vistra Energy announced that it would be retiring over 4,000 MW of generation capacity before the summer of 2018. The retirements represented ~5% of ERCOT’s total generation capacity and have significantly reduced the projected reserve margin for the summer 2018 planning period. In the latest Capacity, Demand, and Reserves report […]

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Market Monitor – Natural Gas Swing vs. OFO Penalties

Penalty charges for deviating from expected natural gas consumption come primarily from two sources with distinct and separate circumstances. The first way to incur additional charges is to use more (or less) than the contracted and nominated amount of natural gas, which is referred to as a swing tolerance penalty, or just “swing.” Swing charges […]

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Market Monitor – PJM Balancing Congestion Charge Change

On January 31, 2017 the Federal Energy Regulatory Commission (FERC) issued an order accepting PJM’s compliance filing that noted an underfunding in the PJM Financial Transmission Rights (FTR). The funding mechanism will be addressed by allocating balancing congestion charges to real-time load. As a result of FERC’s acceptance of the filing, all Load Serving Entities […]

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Market Monitor – New York’s Clean Energy Standard

The New York Department of Public Service (DPS) in August gave final approval for the Clean Energy Standard for the State. This will require the state to generate 50% of its electricity from renewable energy sources by 2030, as well as pay upstate nuclear power plants up to $956M over the next two years to […]

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