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Capacity Markets in PJM
Economics of Energy & Environmental Policy
The PJM capacity market evolved from a mechanism to support fair and efficient retail competition, to a core market design component implemented to provide adequate revenue to attract sufficient supply and demand side resources to meet PJM's administrative reliability criteria. The lessons learned in the evolution of the PJM capacity market illustrate issues that are shared across all wholesale power markets. An exogenously imposed administrative reliability requirement has generally beendoi:10.5547/2160-58126.96.36.199 fatcat:6pglgtzmynbnllslemm5reo52e