Norristown, PA, United States
Norristown, PA, United States

PJM Interconnection LLC is a Regional Transmission Organization in the United States. It is part of the Eastern Interconnection grid operating an electric transmission system serving all or parts of Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia and the District of Columbia. PJM, headquartered in Valley Forge, Pennsylvania, is currently the world's largest competitive wholesale electricity market. More than 830 companies are members of PJM, which serves 60 million customers and has 167 gigawatts of generating capacity. With 1,325 generation sources, 59,750 miles of transmission lines and 6,038 transmission substations, PJM delivered 682 terawatt-hours of electricity in 2009.Started in 1927, the pool was renamed the Pennsylvania-New Jersey-Maryland Interconnection in 1956. The organization continues to integrate additional utility transmission systems into its operations. Wikipedia.


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News Article | May 8, 2017
Site: www.prnewswire.com

"PJM is continually planning to meet the region's needs years in advance, coordinating transmission upgrades with our members, embracing newer and efficient technologies and ensuring that the power supply is secure and reliable," said Andy Ott, president and CEO of PJM. PJM's mission is to meet that electricity need by procuring enough resources to satisfy peak demand plus required reserves at the lowest reasonable cost through its competitive markets and working with its members to ensure the grid can reliably move power to where it's needed now and years from now. "Our members do a great job of maintaining strong transmission, generation and distribution systems that deliver all of this power to their customers, and our operators stand ready to make sure the power flows where it's needed most," said Mike Bryson, vice president-Operations. PJM also enhanced the reliability of the power supply by instituting a new market construct that holds generators to stricter, no-excuses standards to deliver the electricity they promised. In addition, PJM is required to have supplementary resources on reserve in case demand is higher than forecasted or generation is unexpectedly unavailable. The required reserve margin is 16.6 percent. However, this season, PJM will have significantly more installed capacity available, with a reserve margin of 29 percent, or nearly 42,000 MW. Last summer, demand peaked at 151,907 MW on Aug. 11, the first time PJM met a peak need of more than 150,000 MW without invoking emergency actions. The highest use of power in PJM was nearly 166,000 MW in 2006. PJM has 185,804 MW of installed generating capacity available. If needed, it also may draw upon more than 9,120 MW of demand response resources, customers who are willing to curb their usage on request during peak times. For more on how PJM prepares for summer demand, visit the PJM Learning Center. PJM Interconnection, founded in 1927, ensures the reliability of the high-voltage electric power system serving 65 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 Columbia. PJM coordinates and directs the operation of the region's transmission grid, which includes over 82,000 miles of transmission lines; administers a competitive wholesale electricity market; and plans regional transmission expansion improvements to maintain grid reliability and relieve congestion. PJM's regional grid and market operations produce annual savings of $2.8 billion to $3.1 billion. For the latest news about PJM, visit PJM Inside Lines at insidelines.pjm.com. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/pjm-releases-summer-reliability-assessment-300453433.html


News Article | May 19, 2017
Site: www.greentechmedia.com

In April, Department Of Energy Secretary Rick Perry issued a memorandum to his staff asking pointed questions about the future of the electric grid as coal is retired off the system, including: Given the rapid change facing America’s electricity system, these questions may seem reasonable, but they reflect an outdated world view. DOE’s publication of this memorandum presents an opportunity to uncover many of these outdated assumptions and understand what’s driving the unstoppable transition from coal to other technologies. By taking each premise in turn and providing evidence-based analysis -- as others have done in different ways -- we can see that the projected demise of coal will result in a cleaner, cheaper and more reliable energy system. To understand whether this is true, some definitional work is needed. Baseload generation’s purpose is to meet the baseload or demand, which Edison Electric Institute defines as “the minimum load over a given period of time” in its Glossary of Electric Industry Terms. The same glossary defines baseload generation as: “Those generating facilities within a utility system that are operated to the greatest extent possible to maximize system mechanical and thermal efficiency and minimize system operating costs...designed for nearly continuous operation at or near full capacity to provide all or part of the baseload.” In other words, baseload plants are those whose efficiency is highest when run at a designed level of power, usually maximum output, and deviations from this level of power reduce efficiency and increase costs. Baseload generation is an economic construct, not a reliability paradigm. A system with baseload thermal generators as its backbone comes with reliability pros and cons. For example, baseload power usually has heavy generators with spinning inertia, which gives conventional generators time to respond with more power when a large generator or transmission line unexpectedly fails. But we now know how to get such responses much more quickly from customer loads, newer inverter-based resources like wind, storage and solar, and gas-fired resources. As the Rocky Mountain Institute’s Amory Lovins recently detailed in Forbes, fuel storage may appear to provide protection from a failure of gas supplies or weather events, but stored fuel has its own set of problems and failure modes: So in fact, baseload units, even with fuel stored onsite, are sensitive to weather and many other failure events. Lovins also points out that coal and nuclear baseload generators are unable to operate continuously, despite perceptions to the contrary. On average, coal-fired stations suffer unexpected “forced outages” 6 percent to 10 percent of the time, and nuclear plants experience forced outages 1 percent to 2 percent of the time, plus 6 percent to 7 percent scheduled downtime for refueling and planned maintenance. On the flip side, solar and wind are 98 to 99 percent available when their fuel (the sun and wind) is available, and the ability to predict the weather is improving all the time. The reliability risks from fossil fuels are collectively managed today, mostly by paying to keep reserve generation running to respond when they unexpectedly fail, but this creates the need for redundancies and costs in the grid comparable to those that cover the uncertainty of weather forecasts for wind and solar power. The U.S. electricity mix is seeing a trend of increasing diversity, rather than decreasing diversity. Until recently, the notion that supporting coal generation would improve diversity was nonsensical; coal was the dominant and largest source of U.S. electricity for decades, so an argument for more diversity would be an argument for reducing the use of coal. Today, coal and natural gas produce roughly equal shares of U.S. generation, while nuclear and hydropower (hidden in the renewables bucket below) are projected to continue their near-constant supporting roles.  With increasing renewable fuels, driven particularly by the growth of wind, solar and biomass generation, one can see that fuel diversity has actually increased dramatically since 2001. Today, coal is declining, with more than 90 gigawatts of the more than 250-gigawatt fleet projected to retire under business-as-usual conditions by 2030, but it will remain a meaningful player in the marketplace for at least the next decade according to baseline Energy Information Administration projections. In the long term, however, whether reducing coal generation impacts fuel diversity and resilience depends more on what replaces it than whether the coal remains. A portfolio of generation options with different characteristics insulates consumers from price risk and availability risk. Keeping some coal-fired generation on-line would help in that regard, particularly if its environmental costs are not considered. If retiring coal and nuclear are replaced mostly by natural gas, we would see a decline in fuel diversity, and that could potentially increase risk due to the characteristics of the natural gas supply. The same would be true, for example, if we myopically rely on solar as the only technology to decarbonize the grid. Studies of the optimal mix of resources in California to meet the 50 percent renewable portfolio standard by E3 and NREL each found that geographic and technology diversity of the renewable resources will substantially reduce the cost of compliance compared to the high-solar and in-state-only cases. But under current projections out to 2030, we are only going to see greater fuel diversity, not less, as natural gas, demand-side resources and utility-scale renewables take the place of retiring coal. This should increase the resilience and security of the system, particularly if this change is accompanied by more investment in transmission, storage and demand-side management. Beyond the question of what “adequate baseload generation” actually means, it is undoubtedly true that coal and nuclear baseload units are suffering financially in both vertically integrated and restructured markets. A recent FERC technical conference offered a forum for generators and wholesale market operators to vent their frustration in what they see as the inadequacy of markets to provide generators with sufficient revenue.  But in reality, this financial pain is the effect of oversupply and intense competition. For example, despite low capacity prices in the PJM Interconnection, 5 gigawatts of new natural gas capacity cleared in the most recent auction. Coupled with stagnant demand, something has to give -- and inefficient coal plants are the more expensive and the least flexible generators that are not needed in this competitive landscape. Competitive pressure from cheap gas, inexpensive renewables, and declining demand are undermining the financial viability of baseload plants, but we are far from a crisis of reliability and resilience. Consider the reserve margins and reference levels in the major markets. Each market is oversupplied. In the case of PJM and SPP, the condition is drastic -- they have double the excess capacity they need to meet stringent federal reliability criteria. One panelist at the May FERC technical conference captured the dynamic: “PJM has reserve margins of 22 percent. I think of Yogi Berra, my favorite economist -- we’ve got so much capacity, we’re going to run out.” A well-functioning market would allow uncompetitive generators to retire amid steep competition and declining prices, given the oversupply conditions. To blame coal’s suffering on policies supporting clean energy denies the root cause -- coal-fired generation is dying on economics alone. Several premises that underlie the need for the forthcoming DOE study are false. Chief among them is a singular focus on baseload generation, particularly coal-fired power plants, as necessary for maintaining reliability. Baseload generation is an economic characteristic, not a reliability concern. Replacing expensive, environmentally unsustainable coal is not a matter of ensuring adequate baseload -- the key will be quantifying the reliability services that are needed and ensuring that the replacement generators can provide it. But hitting the panic button, which is what Rick Perry’s memorandum appears to do, is completely missing the picture; rather than losing diversity, our electricity mix is rapidly diversifying and our markets are vastly oversupplied with energy sources today. Any attempt to conclude otherwise will simply create unjustified roadblocks for new renewable generation, which is crucial to ensure a clean, affordable and reliable electricity system.


News Article | May 16, 2017
Site: www.prnewswire.com

Jones said the company's ongoing investments in the electric system support that philosophy.  He pointed to new rates now in place in eight of the company's ten electric utilities, which support continued investments in service reliability and recovery of the company's costs, as well as FirstEnergy's ongoing investment in its transmission network. "We recently completed phase one of our Energizing the Future transmission investment program – and will spend an additional $4.2 to $5.8 billion through 2021 on projects that will help ensure our customers continue to benefit from a highly reliable, more resilient and more secure grid," he said. Jones said FirstEnergy's focus on customers is also reflected in its new advertising campaign.  Called "You First," the campaign promotes the company's range of smart products and services that place the customer first – from energy efficiency programs that can save customers energy and money, to warranty programs that protect the home's major appliances. While FirstEnergy continues to focus on its transition to a more fully regulated business, Jones said the company strongly supports national and state-level efforts to preserve essential energy resources. "We're encouraged by the recently announced U.S. Department of Energy study to examine the full value that baseload generation plants fueled by coal and nuclear provide to our nation's grid, economy and energy security," he said.  "Among other issues, the study will focus on the reasons why these plants are prematurely closing, the risk to national and economic security if these closures continue, and what can be done to prevent further loss." At the same time, Jones said the company also supports Ohio's Zero-Emissions Nuclear Resource, or ZEN, legislation, which would compensate nuclear plants on a per-megawatt basis for the unique benefits they bring to Ohio's environment, fuel diversity, energy security and resiliency. "Our Davis-Besse, Perry and Beaver Valley nuclear plants have the ability to operate 24/7 – generating enough electricity to power more than 4 million homes, around the clock.  In fact, nuclear facilities produce more than 90 percent of the carbon-free power in Ohio and Pennsylvania," he said. These nuclear plants directly employ approximately 2,300 people, support thousands of additional jobs, and contribute $29 million each year in state and local tax revenues, Jones said.  Yet he noted that nuclear facilities across the nation are closing prematurely, including four nuclear facilities in Wisconsin, Vermont and Nebraska that have already shut down, and at least seven others across the region that are in danger of closing. "We simply cannot allow this to happen in Ohio and Pennsylvania – so if you share our concerns and live in either state, I encourage you to reach out to your local senator or representative," Jones said. In closing, Jones said he is proud of FirstEnergy employees, and their role in providing customers with the safe, reliable, clean and affordable service they expect and deserve. "I'm confident that the dedicated efforts of our employees will make the difference as we complete our transition to a more fully regulated company – one that is better positioned to meet the energy needs of our customers, provide strong support to our communities and deliver greater value to our shareholders in the years ahead," he said. A transcript of Jones' prepared remarks can be found here. FirstEnergy also announced preliminary voting results from its 2017 Annual Meeting. Shareholders reelected each of the 13 nominees to the company's Board of Directors and ratified the appointment of PricewaterhouseCoopers LLP as the company's independent registered public accounting firm.  On an advisory basis, shareholders also approved named executive officer compensation and voted to hold such advisory votes every year. Based on preliminary results, a management proposal to amend the company's governing documents to increase the number of shares of authorized common stock received the requisite vote, while management proposals to amend the company's governing documents to replace existing supermajority voting requirements with a majority voting power threshold, implement majority voting for uncontested director elections and implement proxy access, failed to receive the requisite vote. Non-binding shareholder proposals related to lobbying, climate change and simple majority voting received the support of less than 50 percent of votes cast, based on preliminary results. All preliminary voting results are subject to final certification. The following directors were elected to one-year terms: FirstEnergy is dedicated to safety, reliability and operational excellence.  Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York.  The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com. Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated  's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards  programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/firstenergy-ceo-jones-addresses-shareholders-300458473.html


Prior to the outage, Beaver Valley Unit 2 operated safely and reliably, generating more than 11.5 million megawatt hours of electricity since the completion of its last refueling in October 2015. FirstEnergy is dedicated to safety, reliability and operational excellence. Its FENOC subsidiary also operates the Perry Nuclear Power Plant in Perry, Ohio, and the Davis-Besse Nuclear Power Station in Oak Harbor, Ohio.  Visit FENOC on the web at www.fenoc.com, and follow the nuclear plants on Twitter @Perry_Plant, @BVPowerStation, and @DavisBesse. Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated  's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards  programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/beaver-valley-power-station-unit-2-returns-to-service-following-refueling-and-maintenance-outage-300461397.html


News Article | May 17, 2017
Site: www.prnewswire.com

Riley most recently served as chief financial officer for Eastern Outfitters, LLC (formerly Vestis Retail Group, LLC).  She also serves on the board of Essendant Inc. and is a member of the Board of Trustees of the Rochester Institute of Technology. She has served on the PJM Board since 2005. Robinson is the vice president-Legal Affairs and General Counsel for the Regents of the University of California where he is the chief legal officer. Prior to that, he was a vice president, general counsel and corporate secretary for the California ISO. He has served on the PJM Board since 2011. The Nominating Committee carefully reviewed the qualifications and prior service of Almgren, Riley and Robinson and voted to nominate them for re-election at the PJM Annual Meeting. PJM Interconnection, founded in 1927, ensures the reliability of the high-voltage electric power system serving 65 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 Columbia. PJM coordinates and directs the operation of the region's transmission grid, which includes over 82,000 miles of transmission lines; administers a competitive wholesale electricity market; and plans regional transmission expansion improvements to maintain grid reliability and relieve congestion. PJM's regional grid and market operations produce annual savings of $2.8 billion to $3.1 billion. For the latest news about PJM, visit PJM Inside Lines at insidelines.pjm.com. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/pjm-members-reelect-almgren-riley-and-robinson-to-board-300459408.html


"The results show that PJM markets continue to achieve what they were originally intended to accomplish, ensuring reliability at the lowest reasonable cost," said Andrew L. Ott, PJM president and CEO. "Overall response to this auction, both in participation and competitive bids, reflects the market's ability to attract efficient, high performing and competitive resources that support reliability." PJM procured 165,109 megawatts of resources for the period June 1, 2020, to May 31, 2021. The procured capacity provides a 23.3-percent reserve margin. This is the first auction in which all resources had to meet capacity performance requirements, which were phased in. It also was the first to have participation by Price Responsive Demand resources, demand response-like resources that react to market signals. PJM procures resources three years in advance to ensure adequate power supplies will be available during extreme weather or other system emergencies to meet consumers' demand for electricity. All resources must meet Capacity Performance standards, committing to perform when needed or face steep non-performance payments. To meet that requirement, generation owners, for example, ensure firm fuel supplies or make improvements to their equipment. The auction attracted 2,350 MW of new gas-fired generation. The auction procured about 7,532 MW of demand response resources that committed to year-round availability and the higher performance requirements. There were 119 MW of solar resources and 504.3 MW of wind resources that cleared the auction. In addition, 1,710 MW of energy efficiency resources cleared. Additionally, under new rules approved by the Federal Energy Regulatory Commission in March, 398 MW of seasonal capacity (resources available in one season only) cleared in an aggregated manner to form a year-round resource. Wind generators, whose capacity is greater in the winter, combined through the auction clearing mechanism with demand response and solar resources, whose capacity is greater in the summer. In four constrained areas, the MAAC region, Eastern MAAC, ComEd and Duke Energy (Ohio and Kentucky), capacity prices are higher than the RTO price. For MAAC, the price is $86.04 MW-day; in Eastern MAAC, the price is $187.87/MW-day; in ComEd the price is $188.12/MW-day; and in Duke Energy's Ohio and Kentucky region, the price is $130/MW-day. A detailed report of the results is available on pjm.com. PJM Interconnection, founded in 1927, ensures the reliability of the high-voltage electric power system serving 65 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 Columbia. PJM coordinates and directs the operation of the region's transmission grid, which includes over 82,000 miles of transmission lines; administers a competitive wholesale electricity market; and plans regional transmission expansion improvements to maintain grid reliability and relieve congestion. PJM's regional grid and market operations produce annual savings of $2.8 billion to $3.1 billion. For the latest news about PJM, visit PJM Inside Lines at insidelines.pjm.com. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/pjm-capacity-auction-sees-strong-response-from-market-participants-to-strict-performance-standards-300462809.html


News Article | April 17, 2017
Site: www.renewableenergyworld.com

U.S. utility American Electric Power (AEP) has upgraded one of its existing energy storage sites with software that will qualify it to participate in the PJM Interconnection frequency regulation market.


Gil H.A.,University of Seville | Lin J.,PJM Interconnection LLC
IEEE Transactions on Power Systems | Year: 2013

Increased deployment of wind-power generation is changing the landscape of power supply around the world. When integrated with electricity markets, wind power is also widely known to influence the prices cleared at the market. This paper examines the effect of wind-power generation on the day-ahead market prices in the PJM electricity market using robust econometric models and statistical inference. Results show that the quantified expected benefits to wholesale market participants may be substantial despite the relatively low wind-power penetration levels still observed within the PJM jurisdiction relative to other markets. The quantified unitary benefits outweigh, by a great margin, the renewable energy credits given to qualifying wind farms across the market. When benefits outweigh the costs incurred to generate them, welfare is accrued. To this end, benefit allocation mechanisms are proposed, which may contribute to the continued development of wind power on the roadmap to a cleaner power industry of the future. © 2013 IEEE.


News Article | February 16, 2017
Site: www.prnewswire.com

VALLEY FORGE, Pa., Feb. 16, 2017 /PRNewswire/ -- The PJM Board of Managers has promoted Thomas O'Brien to senior vice president and chief information officer. O'Brien previously was vice president and chief information officer. "Now more than ever our industry needs visionary...


News Article | February 15, 2017
Site: www.prnewswire.com

VALLEY FORGE, Pa., Feb. 15, 2017 /PRNewswire/ -- The PJM Interconnection Board authorized more than $1.5 billion in electric transmission projects to maintain reliable power supplies for the 65 million consumers in its 13-state and Washington, D.C. region. The authorizations include...

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