Enel X Awarded Nearly 3,000 MW at PJM Capacity Auction, Accelerating the Transition to a Cleaner Grid
- Enel X was awarded 2,900 MW of committed capacity resources for the 2022-2023 delivery period in the latest capacity auction held by PJM.
- The auction cleared an overall total of 144,477 MW at a clearing price of $50/MW-day, a 64% decrease from the previous auction’s clearing price.
BOSTON, June 15, 2021 — Enel X, the Enel Group’s advanced energy services business line, was awarded the delivery of 2,900 MW for the 2022-2023 delivery period following the completion of the latest capacity auction, or Base Residual Auction (BRA), held by PJM, the largest grid operator in North America. Enel X’s award is comprised largely of distributed energy resources that will accelerate the transition to a cleaner, more affordable, and more resilient electric grid.
“After a three-year postponement, this auction is significant because it shows continued momentum for the transition to clean energy resources,” said Surya Panditi, Head of Enel X North America. “The award bolsters our steadfast commitment to our customers in the mid-Atlantic region and continued innovation in delivering sustainable energy solutions that generate economic value. We’re empowering more companies to reap the many benefits of proactive energy management while providing essential grid stability and enabling lower electricity costs for ratepayers.”
A significant majority of Enel X demand response customers in PJM have different nominations between summer and winter seasons. Enel X, leveraging its large and diverse customer portfolio, is pairing customers with excess summer capability with customers with excess winter capability to maximize revenue streams.
Enel X pioneered demand response in the US and offers no-risk and no-cost revenue opportunities for commercial and industrial clients, such as hospitals, universities and manufacturing facilities, to receive payments in exchange for reducing demand on the grid. In recent years, it has expanded its portfolio to include resources that push power to the grid. As a result, participating companies save on overhead costs, create new revenue streams and ultimately operate with more confidence and efficiency.
The 2022-2023 auction cleared an overall total of 144,477 MW of capacity resources at a clearing price of $50/MW-day. This represents a 64% decrease from the price cleared at the previous PJM capacity auction for the 2021-2022 delivery year, which was held in May 2018. The clearing price for this year’s 2022-2023 capacity auction was lower than the previous 2021-2022 delivery period auction which benefits all ratepayers with lower energy costs.
Through the award, Enel X will continue to manage electricity demand from customers connected to the PJM Interconnection transmission grid, informing companies when the network needs them to reduce their power consumption, while providing enhanced grid flexibility and stability. PJM serves more than 65 million customers in 13 states across the mid-Atlantic region, including Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, and the District of Columbia.
Enel X holds the leading position in demand response globally, with over 6 GW of capacity managed in the Americas, Europe, Asia, and Oceania.
The award bolsters our steadfast commitment to our customers in the mid-Atlantic region and continued innovation in delivering sustainable energy solutions that generate economic value. We’re empowering more companies to reap the many benefits of proactive energy management while providing essential grid stability and enabling lower electricity costs for ratepayers.
About Enel X
Enel X is Enel Group’s global business line offering services that accelerate innovation and drive the energy transition. A global leader in the advanced energy solution sector, Enel X manages services such as demand response for around 6 GW of total capacity at global level and around 100 MW of storage capacity installed worldwide, as well as 195,000 electric vehicle charging points made available around the globe1. Through its advanced solutions, including energy management, financial services and electric mobility, Enel X provides each partner with an intuitive, personalized ecosystem of tech platforms and consulting services, focusing on sustainability and circular economy principles in order to provide people, communities, institutions and companies with an alternative model that respects the environment and integrates technological innovation into daily life. Each solution has the power to turn decarbonization, electrification and digitalization goals into sustainable actions for everyone, in order to build a more sustainable and efficient world together.
1Public and private charging points. It includes interoperability points.
In North America, Enel X has around 4,500 business customers, spanning more than 35,000 sites and representing approximately $10.5B in energy spend under management. Enel X North America has approximately 4.7 GW of demand response capacity, over 70 battery storage projects that are operational and under contract, and more than 70,000 smart EV charging stations. Enel X advises large energy users on energy procurement, sustainability, and risk management, and has completed 65,000 energy procurement events including 3,000 MW of long-term renewable energy contracts. The company’s intelligent DER Optimization Software is designed to analyze real-time energy and utility bill data, improve performance, and manage distributed energy assets across a number of different value streams and applications. JuiceNet, Enel X’s smart EV charging platform, delivers energy services to utilities, businesses, drivers and automotive manufacturers.