Limited Energy Capability Resource Duration Requirement for Participation in PJM Capacity Market

摘要

Federal Energy Regulatory Commission (FERC) Order 841 urges RTOs and ISOs to open their markets to eligible electric storage resources (ESR). The goal of this study is to formulate PJM capacity market participation rules in compliance with this order that treat different types of resources equally. The proposed method of equivalent duration looks at peak-serving from an energy perspective and interprets the capacity of a resource as its ability to serve a certain MW amount of the peak. This allows taking into account specific technical characteristics of ESR, which in turn alleviates constraints on their ability to participate in the capacity market.