In which we mark the end of Season 2 in our now annual tradition of debating the major industry trends of the past year. Listen closely as we explain how a Trump-era addition to the Federal Power Act is having unintended consequences, why 2021 may end up being the high-water mark for RTO/ISO participation and what happens to Pennsylvania’s currently most-famous Bens: Simmons and Roethlisberger. Happy holidays and see you next year!
In which we welcome PJM Independent Market Monitor Joe Bowring into the illustrious GT Power Hour Two-Timers Club to continue discussion of the compelling comments fellow club-member FERC Chairman Glick made on the previous episode, and the Monitor - as he is wont to do - happily (and ably) complies. Brace for a deep dive on the minimum offer-price rule (MOPR) in the capacity market, why FERC wants it pared back, how PJM appears likely to respond, the interaction of capacity and energy markets and what can be done to transfer generators’ reliance on capacity-market payments to actual performance in energy and ancillary-services markets. Let’s just say the Monitor and the Chairman don’t see eye to eye on several things.
It’s a pretty meaty talk that doesn’t stray far from the issues at hand, but there is some ranting and commiseration on the misery of driving the I-76 Schuylkill Expressway. Better buckle up!
In which Glen and Rory dig deep to break down PJM’s capacity construct: where it’s been, where it’s going, how it compares to other regional grids and the major forces at play in shaping its future.
But that’s not all! (It never is.) TB12 and the Calvin and Hobbes comic strip make appearances in the conversation as Glen coins the phrase “that warm barn of regulation” and presages the devastating blackouts in Texas that would occur just hours after recording the episode. What should become of the MOPR? Are PJM and its member states still invested in competitive markets? What’s the deal with monopsony market-power? Can state statutes play nice with market forces? How does the new-look FERC impact all of this? Does New Jersey’s new market-design idea have legs? No questions barred and all things considered, it’s a discussion about electricity supply and system reliability that you don’t want to miss!
In which we task Todd Snitchler, President/CEO of the Electric Power Supply Association (EPSA), with leveraging his experiences as both a state legislator and utility-commission chairman in Ohio to help us break down the FirstEnergy and ComEd nuclear-subsidy legislation scandals, offer unsolicited advice to state officials across the board and ponder whether the way things are will ever change. The responses may surprise you… We go on to discuss EPSA’s role as the vanguard of competition in electricity markets, Todd’s roots in the Twin Tiers of Pennsylvania and New York, a comparison of dive bars in capital cities and the best golf course for somewhat-middling skills.
In which we discuss how the Annual Meeting was done – for the first time – all by conference call; the ongoing effects of the COVID-19 pandemic – including estimates on how it will impact PJM’s bottom line; the unsung heroes of the energy business; a fond farewell to two big names at PJM; Michael Moore’s new documentary “Planet of the Humans” and a cameo by a previous guest of the podcast; Lebanon County, Pennsylvania; the horse latitudes; the Washington Redskins; and PJM CEO/President Manu Asthana’s first five months on the job.
