Natural gas-fired power project clears PJM auction
http://www.power-eng.com/articles/2015/08/natural-gas-fired-power-project-clears-pjm-auction.html?cmpid=enl-poe-weekly-august-24-2015&eid=294715858&bid=1160195
PSEG Power said that its planned 540-MW natural gas-fired combined-cycle power plant cleared PJM’s Reliability Pricing Model Base Residual Auction.
The $600 million Sewaren 7 project is scheduled to begin construction on early 2016 and be completed in summer 2018. It will be built at the existing Sewaren Generating Station in New Jersey, and will replace units 1-4, which will be retired after almost 70 years of operation. The plant will run on natural gas and ultra-low-sulfur distillate fuel oil as a back up.
About PJM
Acting as a neutral, independent party, PJM operates a competitive wholesale electricity market and manages the high-voltage electricity grid to ensure reliability for more than 61 million people.
Is this a Quango, a quasi-autonomous non-governmental organisation?????
My guess is that I pay for it as a ratepayer, taxpayer, consumer...
What is it?
I don’t mean to be dense, but this auction business is not real clear. Is the power production cost of the nuc plants too expensive to be competitive? That is really the only conclusion I can reach based on the need to close the nuc plants. And then there is the question of base load lost, when and if the three are closed, versus what remains for base load after closure.