It was beat up on PJM day today at the Platts Northeast Power Markets industry conference in New York. In addition to being called "a complete failure," PJM's capacity market was also referred to as "PIG" by NJ BPU President Robert Hanna.
"The current [PJM] capacity market is skewed to incumbents and subject to manipulation by incumbents," he said.
Hanna said when he first took his post as head of the BPU -- he was appointed in December 2011 -- he was bewildered by all the acronyms used in the power sector, but he soon created his own for the RPM: PIG, which he said stands for Protection of Incumbent Generators.
"PIG rules," he said of the RPM..."
PJM Market Monitor Joseph Bowring sort of tried to defend PJM, but admitted, "it is gameable."
Read the complete article here.
"The current [PJM] capacity market is skewed to incumbents and subject to manipulation by incumbents," he said.
Hanna said when he first took his post as head of the BPU -- he was appointed in December 2011 -- he was bewildered by all the acronyms used in the power sector, but he soon created his own for the RPM: PIG, which he said stands for Protection of Incumbent Generators.
"PIG rules," he said of the RPM..."
PJM Market Monitor Joseph Bowring sort of tried to defend PJM, but admitted, "it is gameable."
Read the complete article here.
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