|
SELECTED PRESS RELEASE:
|
|
|
posted on:
5/22/2012 12:20:30 PM EST
|
Electricity demand up BIG
energy comparison sites
 VISIT WEBSITE (learn more)
|
Are looking for the cheapest gas supplier or cheapest electricity supplier visit
www.energycomparisonsiteus.com the only energy comparison site to have open bidding. Video: www.ibosocial.com/mgrimes/videos.aspx?videoid=5227
From Gerry Herr: Nordic energy
With an unprecedented amount of electric generation retiring within the next three years, PJM Interconnection's capacity market secured record amounts of new generation, demand resources and energy efficiency to keep the grid reliable. PJM announced the results of its capacity market, the annual Reliability Pricing Model (RPM) auction, for resources to meet power supply needs between June 1, 2015, and May 31, 2016. The RPM auction procured a record amount of new generation in one year, 4,900 megawatts (MW). In addition, capacity imported from west of PJM increased about 8 percent from last year to 4,335 MW.
The RPM establishes contracts with power producers who commit to make their facilities available to provide electricity for the PJM system for a year. Prices are established through competitive bidding. PJM's auction also includes demand response and energy efficiency providers.
This year, the auction procured 164,561 MW of capacity resources at a base price of $136 per MW. A megawatt is enough electricity to power 800 to 1,000 homes. PJM's all-time peak demand is 158,448 MW. Prices were higher in northern Ohio and the Mid-Atlantic region. "PJM is effectively, efficiently and reliably handling a massive shift in generation from coal to natural gas," said Andy Ott, PJM senior vice president - Markets. Ott added, "Nevertheless, much work needs to be done, including transmission upgrades required by plant retirements in order to deliver power supplies to population centers."
In addition to new generation, most of it natural gas-fired, the capacity auction also procured 14,833 MW of demand response, a 5 percent increase over last year, and energy efficiency, a 12 percent increase. The amount of demand response was also a record for PJM, as well as for renewable generation. Solar increased to 56 MW of solar -- a 22 percent increase over last year - and wind increased to 796 MW - a 15 percent increase.
"Capacity prices were higher than last year's because of retirements of existing coal-fired generation resulting largely from environmental regulations which go into effect in 2015," Ott said. "The retirements impacted northern Ohio to a larger extent than the rest of PJM for several reasons including inherent transmission restrictions, and the level of retirements in that area relative to the rest of PJM.
PJM Interconnection, founded in 1927, ensures the reliability of the high-voltage electric power system serving 60 million people in all or parts of Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia and the District of Columbi
|
|
BUSINESS OWNER COMMENTS:
|
leave comment
|
|
** You need to be a member of IBOtoolbox to comment. Click Here to create free account.
|