PJM RPM Capacity Market Description
PJM’s capacity market called the Reliability Pricing Model, ensures long-term grid reliability by securing the appropriate amount of power supply resources needed to meet predicted energy demand in the future. PJM Capacity Market Auctions include both Incremental Auctions (IA) and Base Residual Auctions (BRA). Here is a calendar of upcoming PJM capacity market auctions.
2025/26 Incremental Auction Activity |
|||
Auction Type |
Auction Window Opens |
Auction Window Closes |
Auction Results Posted |
| 3rd Incremental Auction – Delivery year 2025/26 | February 26, 2025 | March 4, 2025 | March 11, 2025 |
Updated November 18, 2024
‘Proposed’ Auction Date – Month/Year |
Auction Type |
Delivery Year |
Notes |
| July 2025 | Base Residual Auction | 2026/27 | The 2026/27 BRA current schedule is for the auction window to open on 7/9/2025, and the auction window to close on 7/15/2025 with PJM posting auction results on 7/22/2025.
The table to the left outlines PJM’s requested revised schedule. Note that PJM is proposing to be back on a normal schedule for BRAs starting with the 2030/31 BRA that is currently scheduled for May, 2027. |
| December 2025 | Base Residual Auction | 2027/28 | |
| February 2026 | 3rd Incremental Auction (IA) | 2026/27 | |
| May 2026 | Base Residual Auction (BRA) | 2028/29 | |
| December 2026 | Base Residual Auction (BRA) | 2029/30 | |
| February, 2027 | Third Incremental Auction (IA) | 2027/28 | |
| May 2027 | Base Residual Auction (BRA) | 2030/31 | |
| July 2027 | 2nd Incremental Auction | 2028/29 |
November 18, 2024
ESAI Power is providing this information to assist you in understanding the schedules for different ISO/RTO Energy Auctions. Note that ESAI Power urges all market participants to check all market rules and ensure that you are complying with all requirements for each ISO/RTO.
More Information
- To read PJM’s September 27th, 2024 notice regarding the treatment of Reliability Must-Run (RMR) units, click on below link: PJM Update on Sierra Club complaint
- To confirm dates for PJM Auctions – please consult the PJM website here:
https://www.pjm.com/-/media/markets-ops/rpm/rpm-auction-info/rpm-auction-schedule.ashx - PJM RPM IA FAQs can be found here:
https://pjm.com/-/media/markets-ops/rpm/rpm-auction-info/rpm-incremental-auction-faqs.ashx
About ESAI Power
ESAI Power is a market research and consulting firm that delivers focused analysis of the wholesale power markets in the Northeast region of the US: PJM, NYISO, and ISO-NE. Since 2001, ESAI has been providing market-focused research product content and custom consulting services for Northeast power market participants including investors (banks, private-equity, & hedge funds) & developers, generation owners & operators, utilities & retail electricity suppliers, regulators & RTOs, traders, and end-users & buyers.