Generator Net Revenues and the Need to Reform PJM Capacity Markets

The adequacy of the revenue stream as compensation for PJM generators is a key question related to the need to change PJM capacity markets. Generators may say current margins are too low, imperiling reliability, while load may say the same margins are too high, imperiling manufacturing jobs. Formerly made by state commissions, these decisions will now be made not by the market, but apparently by the PJM Board and at FERC.