PJM recently updated its Capacity Auction schedule for the 2026/27 Base Residual Auction. The auction was set to begin in early December 2024 but has now been delayed and is scheduled to take place in early July 2025.
PJM is now scheduled to open the offer window for the 2026/27 BRA on July 9th, 2025 for market participants. The Capacity auction window will close on July 16th, and PJM plans to post the auction results on July 22nd.
The PJM RPM Capacity market has undergone a major redesign effort with new rules implemented in the BRA for the 2025/26 Delivery Year. New Capacity accreditation rules based on the Effective Load Carrying Capacity (ELCC) of each resource are significantly changing the mechanics of the upcoming BRA and the qualified Unforced Capacity (UCAP) for individual resources.
Supply and Demand Update
On the demand side, PJM’s projections for load growth have increased mainly due to data center load, artificial intelligence, and the increased adoption of electric vehicles. On the supply side, a significant amount of capacity is scheduled to retire over the next several years.
Additional upcoming PJM Capacity Auctions
PJM has scheduled the 3rd Incremental Auction for Delivery year 2025/26 to begin on February 26th, 2025. The BRA for Delivery Year 2027/28 is currently scheduled for December 2025.
Staying Informed
Understanding the PJM auction schedule and Capacity auction coverage is vital for stakeholders in the PJM market.
- For an overview of dates, please visit our PJM Capacity Auction Calendar.
- To confirm specific auction dates and details, consult the PJM Auction Schedule.
- For frequently asked questions about Incremental Auctions, visit PJM’s Incremental Auction FAQ page.
- To learn more about ESAI Power’s PJM Capacity Market coverage, please Contact ESAI
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Learn About PJM Capacity Auction Calendar
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). Visit our PJM Capacity Auction page to see calendar of upcoming capacity market auctions.
Learn About Capacity
ESAI Power continuously monitors and conducts analysis of the Capacity Markets in New York, New England, PJM & MISO. Capacity market projections incorporate detailed assessments of all market drivers including load projections, demand curve parameters, new capacity and retirements, and transmission constraints that impact locational delivery and pricing. Coverage includes full pre- and post-Capacity Auction forecasts for NY ICAP Summer Strip and Winter Strip auctions, for each PJM Base Residual Auction, ISO-NE Forward Capacity Auction, and MISO Planning Resource Auction.
