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PJM Market Report

PJM has low renewable penetration, but interconnection queues indicate that change is coming, with a surge of incoming renewables that will place severe economic pressure on inflexible thermal generation, particularly coal. Tightening clean energy policies coupled with accelerating demand for clean energy among offtakers will be a critical driving force for the energy transition in PJM. However, economic viability for storage will take time to grow as renewable resources supplant thermal generation, driving price volatility and capacity prices upward. This report discusses Ascend’s market outlook for PJM as this transition progresses.