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People also ask
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What is the installed capacity of PJM in 2024?
That means PJM has fewer generation resources to draw on this summer compared with 2023 – approximately 182,500 MW of installed generating capacity is available in 2024 to meet customer needs, compared with approximately 186,500 MW of installed capacity last summer.
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How many people does PJM serve?
Today, PJM has evolved into a regional transmission organization (RTO), and it includes more than 1,100 member utilities serving more than 65 million people.
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What does PJM stand for?
In 1956, additional utilities in Pennsylvania and New Jersey, as well as utilities in Maryland, joined the power pool and PJM (PJM stands for Pennsylvania-New Jersey-Maryland) was born.
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What is the capacity of PJM?
More than 1,000 companies are members of PJM, which serves 65 million people and has 185 gigawatts of generating capacity.
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Why are PJM capacity prices so high?
Planning for load growth and retirements is important, but the principal driver of the capacity market price increase was PJM derating the gas plants to reflect their lower reliability value. The gas and coal derating (26 GW) was nearly three times as much as the combination of retirements and load growth.
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What is the PJM pricing model?
PJM's capacity market, called the Reliability Pricing Model, ensures long-term grid reliability by procuring the appropriate amount of power supply resources needed to meet predicted energy demand three years in the future.
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What is the capacity in PJM?
Capacity, as it relates to electricity, means there are adequate resources on the grid to ensure that the demand for electricity can be met at all times. In PJM's case, that means that a utility or other electricity supplier is required to have the resources to meet its customers' demand plus a reserve.
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Is PJM a RTO or ISO?
PJM is called an “independent system operator” or “ISO” because it has independent authority, overseen by FERC, to operate the transmission lines owned by the utilities. PJM has also been designated by FERC as the “regional transmission organization” or “RTO” for its territory.
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