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Monitor: PJM’s Wholesale Markets Competitive In First Quarter Of 2017

May 15, 2017

PJM’s wholesale electric energy, capacity, and regulation markets produced competitive results during the first three months of 2017, according to the grid operator’s market monitor. Real-time energy market prices increased, as the load-weighted average locational margin pricing was 13 percent higher in the first quarter of the year than during the same period of 2016 – $30.28 per MWh compared with $26.80 per MWh. Energy prices rose primarily because of higher fuel costs. Average energy market net revenues decreased by 66 percent for new combustion turbines and 29 percent for new combined cycle plants, while they were up 17 percent for a new coal plant and 17 percent for a new nuclear plant. Total energy uplift charges fell by $13.9 million or 35.2 percent.