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Are PJM’s Plunging Capacity Prices a Harbinger of Power Markets’ Demise?

Few observers outside the electric utility industry understand the U.S. power grid, often called the world’s largest machine. It’s three grids, actually—the Eastern Interconnect, the Western Interconnect, and the Texas…


Goldman Sachs Stake in Fortress Underscores Supply Chain Cybersecurity Priority

A Goldman Sachs private equity business is taking a stake in critical industry cybersecurity firm Fortress Information Security. The $125 million investment underscores a heightened awareness of supply chain vulnerabilities…


SCOTUS Reinstates Trump-Era Environmental Certification Rule

The U.S. Supreme Court on April 6 reinstated a Trump-era environmental rule that limited state and tribal roles in enforcing a section of the Clean Water Act (CWA) related to…


Market Transitions: The MOPR Merry-Go-Round

The PJM Interconnection’s Minimum Offer Price Rule (MOPR) was introduced in 2006 as a floor to bar new generators from artificially depressing capacity auction clearing prices through below-cost bids. In…


Former FERC Commissioner Says ‘Market Design Problem’ Was a Leading Cause of February 2021 Texas Power Crisis

In February 2021, a severe cold weather event, known as Winter Storm Uri, caused numerous power outages, derates, or failures to start at electric generating plants scattered across Texas and…