PJM Files Backstop Capacity Plan with FERC After Auction Shortfall
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On July 31, 2026, PJM Interconnection, L.L.C. (“PJM”), filed a “backstop” capacity auction with the Federal Energy Regulatory Commission (“FERC”). The filing comes after PJM’s capacity auction for the 2028-2029 delivery year ended with a 6.8 GW shortfall and pushed capacity prices to their maximum limit of $325/MW-day.
The bid window for this special auction would run from September 30, to October 21, 2026, with the selection process running from October 22, to December 2, 2026. Contracts will be for fifteen years.
“New” resources would have to be online by June 1, 2032, to be eligible, among other requirements. New resources only accounted for 525 MW in the 2028-2029 auction.
In addition to the special auction, there will be “Facilitated Bilateral Matchmaking”, which will “look to streamline direct contracting between supply and demand to address the growing load the PJM region is forecasting.”
A full description of PJM’s plan, including both the backstop auction and the matchmaking, may be found here:
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