PJM Auction Underlines Challenges Facing Nuclear Plants

Beset by flat or declining demand and an oversupply of new generation capacity, clearing prices for several zones in the PJM Interconnection's 2020/2021 Base Residual Auction, which were announced May 23, came in well below analysts' expectations. Especially hard hit were merchant nuclear generators including Exelon Corp.'s Three Mile Island and Quad Cities plants, both of which failed to clear.

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