PJM Interconnection’s 2025/2026 base residual auction (BRA) saw prices rise to $269.92/MW-day for most resources in the wholesale power market, indicating a tightening supply-demand balance across the regional transmission organization (RTO). The competitive capacity auction, which procures power supply resources in advance of the delivery year to meet demand in the region’s 13-foot footprint, procured 135,684 MW from June 1, 2025, through May 31, 2026. The total Fixed Resource Requirement (FRR) obligation added another 10,886 MW. The auction and FRR commitments totaled 146,570 MW, representing an 18.5% reserve margin, slightly above PJM’s 17.8% target reserve margin. However, two zones, BGE in Maryland and Dominion in Virginia, cleared just short of their reserve requirement, resulting in prices being set at the zonal cap. These prices indicate that these regions would benefit from additional resources, additional transmission, and a combination of these two regions. The cost of the 2025/2020 BRA was $14.7 billion.
Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating
