Insight
PJM's 2024/25 Base Residual Auction results: Has the market bottomed out?
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
PJM recently posted results of the delayed 2024/25 delivery year Base Residual Auction (BRA). While RTO prices declined in this auction, our view is that capacity prices in PJM may be bottoming out and an increasing price trend may be forthcoming. In this insight, we lay out three reasons for this view: - Lower expected energy and ancillary services (E&AS) offset values in upcoming auctions - A tightening supply and demand balance across PJM in the near-term - Uncertain future bidding behavior as generators react to underperformance risk exposed by Winter Storm Elliott
Table of contents
- No table of contents specified
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Insight
PJM 2026/2027 capacity auction: higher prices, but less sticker shock
PJM’s 2026/2027 Base Residual Auction (BRA) cleared even higher than the previous explosive auction,
$3,000
Commodity Market Report
Netherlands and Belgium power markets long-term outlook: May 2024
Our May 2024 long-term outlook for the Netherlands and Belgium power markets, with fully integrated supply-demand analysis and prices.
$18,000
