Biggest U.S. Electric Grid Has Plan to Keep Power Plants Afloat
- PJM proposes two-stage auction to keep prices competitive
- Asks federal regulator to make a decision by June 29
Photographer: Daniel Acker/Bloomberg
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The largest U.S. electricity market is asking federal regulators for help in keeping useful power plants from an early retirement.
Beset by complaints from producers that their old-school plants are being undercut by state subsidies for things like nuclear power and renewable energy, PJM Interconnection LLC has proposed that the Federal Energy Regulatory Commission let it change the way generation capacity is sold in its market to make sure that the electricity is there when needed.