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EPSA Statement on PJM 2011-2012 Capacity Market Results

"The results announced today speak for themselves."

WASHINGTON, D.C. - John E. Shelk, president and CEO of the Electric Power Supply Association (EPSA) issued the following statement today in response to the release of the PJM Interconnection's Reliability Pricing Model (RPM) Auction Results for the 2011-2012 period.

"The results of the first fully forward capacity auction released by the PJM Interconnection today indicate that this important market is largely working as intended to provide reliable electricity to PJM's 51 million customers. EPSA has consistently argued that this relatively new mechanism should be allowed to work. The results announced today speak for themselves: new generation resources, new demand resources, uprates to existing resources and power imports from other regions all increased to produce a fuel diverse 18 percent reserve margin. Furthermore, more supply was bid than the amount cleared, indicating a robust level of interest by many suppliers to participate. EPSA looks forward to the PJM stakeholder process this summer that will review these results and consider refinements."

This is the first PJM auction that reflects a full 3-year forward capacity auction. RPM has been in effect since June 1, 2007. The next three-year forward auction takes place May 2009. The complete results of the PJM auction are available at the PJM Web site at www.pjm.com

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CONTACT: JOHN SHELK
(202) 349-0154or 703-472-8660

EPSA is the national trade association representing competitive power suppliers, including generators and marketers. These suppliers, who account for nearly 40 percent of the installed generating capacity in the United States, provide reliable and competitively priced electricity from environmentally responsible facilities serving global power markets. EPSA seeks to bring the benefits of competition to all power customers.