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Markets & Operations

Billing, Settlements & Credit

PJM manages all aspects of the electric grid and the wholesale market, including the purchase and sale of energy, transmission services and ancillary services. PJM provides weekly and monthly invoices for each market participant. The market settlements and billing FAQs provide an introduction to how charges are billed in the market. 


Emergency Energy Settlement Process for April 2015 Load Management EventsPDF
Guide to Billing:PDF|WEB
Contains billing line items, charges/credits and references
Requirements for Agency AgreementsPDF
Guidelines for using an agent to conduct business with PJM
Credit Overview & SupplementPDF
An overview of the credit policy and requirements, and supplement to the Open Access Transmission Tariff, Attachment Q
Market Settlements Reporting System Reports Documentation
5-Minute Settlements

Reconciliation Billing Determinants


Monthly Billing DeterminantsCSV
Daily & Hourly Billing DeterminantsCSV
Monthly Billing DeterminantsCSV
Daily & Hourly Billing DeterminantsCSV
Monthly Billing DeterminantsCSV
Daily & Hourly Billing DeterminantsCSV
Monthly Billing DeterminantsCSV
Daily & Hourly Billing DeterminantsCSV
Monthly Billing DeterminantsCSV
Daily & Hourly Billing DeterminantsCSV
Monthly Billing DeterminantsCSV
Daily & Hourly Billing DeterminantsCSV

Past Years

Billing Determinant Definitions

Reconciliation billing determinants are used by PJM to reconcile past months' billings between EDCs and Retail Load Aggregators (a.k.a. Electric Generation Suppliers) for certain allocations that are based on real-time load ratio shares. The reconciliation kWh data supplied to PJM by the EDCs, which represents the difference between the scheduled Retail Load Responsibility eSchedules and the "actual" customer usage based on metered data, are multiplied by the applicable billing determinants to determine the reconciliation billing amounts for each of the following:

Scheduling, System Control & Dispatch Service Charges

PJM Charges - June 2006 - present

Monthly $/MWh rate calculated as PJM's Control Area Administrative Service (Tariff Schedule 9-1) rate, plus PJM's Market Support Service (Tariff Schedule 9-3) rate for transmission customers.

Transmission Owner Charges - July 1999 - present

Monthly $/MWh rate for each zone as filed in Schedule 1A of the PJM Open Access Transmission Tariff.

Regulation Charges

Regulation Charges - August 2005 - present

Hourly $/MWh rates calculated as total cost of Regulation in applicable PJM Mid-Atlantic or Western Control Zone regulation market divided by total real-time load in that market.

Transmission Loss Credits

Transmission Loss Credits – June 2007 - present

Hourly $/MWh rates calculated as total transmission loss revenues divided by total PJM real-time load plus exports.

Synchronized Reserve Charges

Synchronized Reserve Charges - May 2006 - present

Hourly $/MWh rates calculated as total cost of Synchronized Reserve in the applicable reserve zone divided by the total real-time load in that zone.

Network Integration Transmission Service Revenue Requirements & Rates

July 2017PDF 7.5.2017
June 2017PDF 6.16.2017
March 2017PDF 3.20.2017
January 2017PDF 1.12.2017

Past Years

2016 | 2015PDF

THEO, PLC & NSPL Methodology Inventory
An inventory of the procedures for calculation of THEO, PLC, and NSPL for each of the electric distribution companies.
Formula Rates

Network Service Peak Loads

2017PDF 6.6.2017

Past Years


Transmission Enhancement Worksheets


JulyXLS 7.19.2017
JuneXLS 6.30.2017
MayXLS 4.27.2017
MarchXLS 3.31.2017
JanuaryXLS 2.24.2017

Past Years

2016 | 2015ZIP

Reactive Supply & Voltage Control Revenue Requirements


JuneXLS 7.10.2017
MayXLS 6.5.2017
AprilXLS 5.4.2017
MarchXLS 4.5.2017
FebruaryXLS 3.3.2017
JanuaryXLS 2.2.2017

Past Years

2016 | 2015ZIP

Balancing Transmission Congestion Preliminary Billing Data

Balancing Transmission Congestion Preliminary Billing Data

Preliminary Billing - Ancillary Services Market Data

Regulation: PJM
Synchronized Reserve: PJMDay-Ahead Scheduling ReserveNon-Synchronized Reserve

Black Start Revenue Requirements


JuneXLS 7.7.2017
MayXLS 6.6.2017
AprilXLS 5.4.2017
MarchXLS 4.10.2017
FebruaryXLS 3.3.2017
JanuaryXLS 2.3.2017

Past Years

2016 | 2012-2015ZIP

Contact PJM

Other Contacts


(866) 400-8980
(610) 666-8980

Credit Group
Market Settlements Group
Cash Management Group


PJM Settlement, Inc. - Credit

New to Billing, Settlements & Credits?

Market Settlements/Billing FAQs 
Guide to Billing:PDF|WEB
Monthly Billing Statement Example
Quick Reference Guide to Market Settlements by Type of BusinessPDF
Subscribe to the Bill Notice Email List


How billing, settlements and credit work at PJM
Market Settlements 101
Market Settlements Advanced

Market Settlements Subcommittee (MSS)

Upcoming Meetings | Past Meeting Materials
Issue Tracking 
Subscribe to the MSS email list 

Weekly Billing Calendars

Learn how to add the Market Settlements Billing schedule to your personal calendar

June 2017 - May 2018PDF
June 2016 - May 2017PDF
All dates - Web version 
PJM Business Holiday Calendar: 2017PDF
Holiday Deadline Extensions: 2017PDF


M-27: Open Access Transmission Tariff Accounting
M-28: Operating Agreement Accounting
M-29: Billing


Operating AgreementPDF
Open Access Transmission TariffPDF