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Grid Operator PJM Talks Details of Energy Price Formation
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The Energy Department’s proposal to shore up coal and nuclear power plants could undermine the very foundations of competitive electricity markets. PJM Interconnection’s Stu Bresler, SVP for Operations and Markets, weighs in on DOE’s proposal, and explains PJM’s price formation alternative. --- In October, Department of Energy secretary Rick Perry grabbed the attention of US competitive wholesale electricity markets when he issued an unusual request to the federal agency tasked with overseeing these markets, the Federal Energy Regulatory Commission. Perry’s proposal, known as the resiliency NOPR (or Notice of Proposed Rulemaking), asked that subsidies be paid to electricity generators that…