Last Friday, a troika of mid-Atlantic governors showed up at the White House for a surprise visit. Not long after, they were gone, just in time for forecasts of Winter Storm Fern to underscore the stakes of a grid stretched to its limits.
What pushed them there? Start with PJM’s latest capacity auction.
In mid-December, PJM ran its annual capacity auction. This auction is supposed to answer a boring question: three years from now, will there be enough firm capacity on the system to serve peak demand?
