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Listen: FERC's expansion of minimum offer price rule sets off scramble to assess impacts

Clean energy resource capacity in PJM Interconnection states has been increasing in recent years, often spurred by state programs that provide financial support. However, other market participants who do not receive state-level subsidies complained to federal regulators that subsidized resource participation in PJM's capacity market has suppressed prices and eroded competition.

In response, the Federal Energy Regulatory Commission's December 19 order aimed to combat the potential price-suppressing effects of subsidized resource participation in the market by expanding application of the minimum offer price rule (MOPR) to all new resources in PJM that are eligible to receive state subsidies.

S&P Global Market Intelligence industry editor Glen Boshart and Platts Analytics power market analyst Kieran Kemmerer run down the order's potential market impacts, other implications and path forward in a discussion moderated by S&P Global Platts senior writer Jared Anderson.