| Market Description |
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PJM Interconnection (PJM)
| Geography |
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States covered: All or most of Pennsylvania, New Jersey, Maryland, Delaware, District of Columbia, Virginia, West Virginia and Ohio. Parts of Illinois, Michigan, Indiana, Kentucky, North Carolina and Tennessee.
Reliability region: ReliabilityFirst Corporation (RFC) and SERC Reliability Corporation (SERC) [NERC regions map
] Balancing authority: PJM Interconnection (PJM)
Load zones: Allegheny Power Systems (APS), American Electric Power (AEP), Atlantic Electric Power Company, Inc. (AECO), Baltimore Gas and Electric Company (BGE), ComEd, Dayton Power and Light Company (DAY), Delmarva Power and Light Company (DPL), Dominion (DOM), Duquesne Light (DUQ), Jersey Central Power and Light Company (JCPL), Metropolitan Edison Company (METED), PPL Electric Utilities (PPL), PECO Energy (PECO), Pennsylvania Electric Company (PENELEC), Potomac Electric Power Company (PEPCO), Public Service Electric and Gas Company (PSEG), and Rockland Electric Company (RECO).
Hubs: AEP GEN, AEP-Dayton, Chicago GEN, Chicago, Dominion, Eastern, N. Illinois, New Jersey, Ohio, West INT, Western.
| RTO/ISO |
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PJM Interconnection (PJM) operates the region’s power grid and wholesale electric markets:
- Energy market: two-settlement (day ahead and real-time) spot market with locational marginal pricing (prices are calculated at each bus every five minutes),
- Capacity market,
- Ancillary services markets, and
- Financial transmission rights (FTR) market.
Energy and capacity in the region are also traded bilaterally through brokers and the Intercontinental Exchange (ICE).
PJM 2007 State of the Markets Report
Market Monitoring Unit – Monitoring Analytics, LLC – External Market Monitor
| Generation/Supply |
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Marginal fuel type: Coal and natural gas
Generating capacity (summer 2007): 165,886 MW
Capacity reserve (summer 2007): 30,545 MW
Reserve margin (summer 2007): 22.5%
| Demand |
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All time peak demand: 144,644 MW (set August 2, 2006)
Peak demand growth (2006-2007): Peak demand declined 3.6%
| 2006 | 2007 | |
|---|---|---|
| Summer Peak Demand (MW) | 144,644 | 139,438 |
| (Source: PJM) | ||
| Prices |
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Annual Average Day-Ahead Price
PJM Western Hub (a basket of 109 buses stretching from Erie PA to Washington DC)
2004: $41.69/MWh
2005: $60.61/MWh
2006: $50.07/MWh
2007: $56.87/MWh