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January 17, 2023: ANNOUNCEMENT: Minimum and Maximum Starting Prices; REMINDER: Parameters for the March 2023 Auction

The minimum starting price in the March 2023 Auction is $110/MWh and the maximum starting price is $145/MWh. In round 1 of the Auction, the price will be set no lower than the minimum starting price and no higher than the maximum starting price.

Additionally, on January 9, 2023, during the webcast, the Auction Manager announced the following parameters for the March 2023 Auction, which are repeated below for convenience:


Deliery Period Tranche Target Load Cap Tranche Size
12-Month June 2023-May 2024 55 44 1%




PLC (MW)* 3,489
MW-measure 34.89




*The PLC (MW) is based on the five highest coincident peaks experienced by PJM in 2022 for SSO customers (i.e., non-shopping only). The MW-measure is provided for reference purposes only. The amount of actual quantity to be delivered depends on many factors (e.g., migration of SSO customers).

The credit-based tranche caps have been increased for the March 2023 Auction and are provided in the table below:

Credit Rating for Bidder or Guarantor
S&P Moody's Fitch Credit-Based Tranche Cap
BB and above Ba2 and above BB and above No cap
BB- Ba3 BB- 15
Below BB- Below Ba3 Below BB- 8
Not rated







Click here to submit a question to the Auction Manager.

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