From Bloomberg: Suppliers on the nation's largest grid will get $34.13 a megawatt-day, down from $50 now, for 12-month capacity contracts starting in June 2023, according to the results of an auction released Tuesday, June 21, by PJM Interconnection LLC, which operates the system. The plummeting prices in the annual auction will speed the transition to cleaner power on the system serving more than 65 million people.
Suppliers to the grid stretching from New Jersey to Illinois will find out on June 21 whether their bids to provide backup capacity for the year starting June 2023 passed muster.
Hawaii gets most of its electricity from oil and coal. So the state is trying an experiment to get the utility off fossil fuels - and becoming a model for regulators across the US.