Pennsylvania-based PJM Interconnection has asked the Federal Energy Regulatory Commission (FERC) for permission to delay its proposed capacity market auction in May 2019. If FERC grants that deadline extension, PJM said in its filing that it would need to also delay its auction to "allow stakeholders, PJM, and the Commission more time to develop and establish the replacement rules," and provide "the necessary timeframe to conduct the auction in an orderly manner once the replacement rules are known." The move comes as PJM secured an extension for time to submit new market rules, set to be submitted after FERC rejected PJM's proposed reforms of a price floor and a two-part capacity auction in March. In response to this latest delay, PJM filed a petition with the commission on June 7 asking that it not proceed with the second part of the auction, which was scheduled to begin July 1.
Pennsylvania-based PJM Interconnection has asked the Federal Energy Regulatory Commission (FERC) for permission to delay its proposed capacity market auction in May 2019. The move comes as PJM secured an extension for time to submit new market rules, set to be submitted after FERC rejected PJM's proposed reforms of a price floor and a two-part capacity auction in March. In response to this latest delay, PJM filed a petition with the commission on June 7 asking that it not proceed with the second part of the auction, which was scheduled to begin July 1.