In this engaging discussion, Nic Freschi, a Senior Associate at Gable Associates and PJM capacity expert, unveils the secrets behind his predictions of the significant spike in PJM capacity prices. He demystifies key concepts like ELCC and ORDC while analyzing the challenges renewable energy faces in capacity markets. The conversation takes an intriguing turn as they explore the contrasting roles of traders and bureaucrats in energy regulation. Comparisons between PJM and ERCOT add depth, along with forecasts about the future dynamics of energy pricing.