PJM’s Operating Reserve Demand Curve (ORDC) and energy price formation rules, including such rules as modified in FERC Docket No. EL19-58 et al., are the content of this Issue Charge.
In the Key Work Activities (KWA) section, in KWA #1, this issue charge addresses education on PJM’s downward sloping ORDC and Transmission Constraint Penalty Factors. In KWA #2, potential “circuit breaker(s)” or other stop loss approach(es) will be considered to limit the duration of extreme pricing that is not likely to preserve grid reliability and is in-actionable by market participants. In KWA #3, sponsors expect to explore potential enhancements to the rules regarding ORDCs and the Transmission Constraint Penalty Factors.