Exelon Asks FERC to Move PJM Capacity Auctions Closer to Delivery

Exelon filed a complaint with the Federal Energy Regulatory Commission on November 4, 2026, challenging PJM Interconnection's capacity auction schedule and asking the regulator to require a prompt auction closer to the delivery period. The filing was announced by Business Wire. Exelon is a regulated utility holding company that delivers electricity and natural gas to about 10.7 million customers through six transmission and distribution subsidiaries.

Exelon's Case Against PJM's Auction Timing

Exelon argues that PJM's capacity market is producing high prices without stimulating the investment the region needs, at a time when customers already face affordability pressures. The company says the current approach locks in capacity costs years before power is needed, while forecasts of future supply and demand are changing quickly.

Exelon is asking FERC to require a prompt auction schedule that moves those decisions closer to the delivery period, when PJM Interconnection has better information about how much electricity the region needs and how much generation is available. Exelon says the change would bring PJM in line with other capacity markets in the country that already use prompt auctions, and describes it as a targeted step ahead of broader reforms.

"Customers are facing a real affordability challenge, and we are stepping up through The Exelon Promise to advocate for practical solutions to keep their bills as low as possible," said Colette Honorable, Exelon Executive Vice President, Chief Legal Officer, Compliance and Corporate Secretary. "PJM's recognition that its markets need to evolve is an important step, but customers cannot afford to wait for a full package of changes to be developed."

Exelon said a prompt auction schedule alone will not solve the region's affordability challenges and that PJM also needs more generation to keep pace with growing electricity demand. PJM filed a revised reliability backstop procurement proposal with federal regulators aiming to start that process on March 1, seven months later than planned, Utility Dive reported on November 3, 2026.

Exelon's Affordability Push Behind the Filing

According to akta.pro company records, Exelon launched The Exelon Promise in February 2026, an affordability initiative combining a $60 million Customer Relief Fund, an expanded Low-Income Discount program with 240,000 enrolled, Delivery Time-of-Day pricing rates and policy reform advocacy. The same records show Exelon serves more than 10.7 million customers through six fully regulated transmission and distribution utilities and carries a $41.7 billion capital expenditure plan for 2026 to 2029 supporting rate base growth of 7.9%.

Earlier Moves on PJM Supply and Generation

In November 2026, Exelon said it could spend $3-7 billion on regulated energy storage, including a 500-MW New Jersey project, to address a PJM supply crunch, Utility Dive reported. In October 2026, an Exelon executive said the company is expanding its transmission business and advocating for regulated generation to meet rising demand, citing PJM's capacity market failures, POWER Magazine reported. In February 2026, NextEra Energy Transmission and Exelon were jointly selected by PJM Interconnection to develop a 220-mile, 765-kV transmission line project spanning West Virginia, Pennsylvania and the Mid-Atlantic region, according to akta.pro company records.

What Comes Next at FERC

Exelon's complaint asks FERC to require a prompt auction schedule, and the company said the change would let stakeholders develop new rules for reliability and affordability of generation supply and then transition to them. PJM's revised reliability backstop procurement proposal aims to start that process on March 1, Utility Dive reported.