PJM capacity auction clears at the $325.00 cap, 5.6 points below its target reserve margin
· L1 Power and land · $325.00/MW-day · Confirmed
PJM runs the power market for 13 states and buys future supply at a yearly auction. Every price hit the legal maximum and it still bought less spare capacity than its own safety target requires. Hitting the cap means the market could not balance at any price it is allowed to charge.