EnergyCents- Mark to market: PJM rule changes lead to capacity auction price spike (Ep 165)

Capacity auction prices for 2025/2026 delivery year jumped nearly 10x from the prior delivery year to $269.92/MW-day for much of PJM, a regional power market in the eastern United States. S&P Global Power Markets Expert Tanya Peevey joins EnergyCents with hosts Hill Vaden and Sam Humphreys to discuss reasons behind the price spike and consider whether rule changes will help incent investment in long-duration power supply for the region.

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