| 2018 | 2019 | 2020 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 |
Energy markets accept offers to sell energy. These offers are not required to be cost-based, as was required in the early days of energy pools. As a precaution against possible market power, electric power markets have created caps for these energy offers. In 1999, PJM switched from cost-based offers to market-based offers, and introduced the $1,000/MWh energy offer cap. At that time, it was not expected that valid energy offers would ever exceed this limit. Since then, most other ISOs/RTOs, including MISO, have adopted the same $1,000/MWh Energy Offer Cap, most likely for consistency reasons.
This issue originated in response to FERC Order 831.
(formerly IR042)