Markets & Operations

Fuel Cost Policies

Given the Federal Energy Regulatory Commission’s approval of PJM’s Hourly Offers filing in Docket No. ER16-372-002PDF on February 3, 2017, all Market Sellers must have a PJM-approved Fuel Cost Policy for each fuel type by May 15, 2017.

Market Sellers that offer a generation resource, including external capacity and energy-only resources, and submit a cost-based offer in the PJM Interchange Energy Market are required to have a PJM-approved Fuel Cost Policy in accordance with Manual 15 and the Operating Agreement, Schedule 2.

Frequently Asked QuestionsPDF
VOM TemplateXLS 7.25.2017
Emissions TemplateXLS



Annual Review


September 15, 2017 is the deadline to submit:

  1. An updated Fuel Cost Policy that specifies your Intraday Offer election (Opt-in, Opt-out or Change Election throughout the year) and numerical example to replicate a standard offer.
  2. Updated policies should also specify if your offer includes VOM adders, Emissions Allowances and/or the 10% adder.
Market Sellers must submit on an annual basis a confirmation their current effective and approved Fuel Cost Policy remains compliant, or submit an updated policy for approval no later than June 15 of each year. PJM will send communication to all Market Sellers by June 1, 2017 with detailed instructions to confirm or submit an updated policy. For more information please see Manual 15, Section, or contact PJM for assistance.

Submission Information

Fuel Cost Policies should be submitted in MIRA using the template guidelines provided on the Monitoring Analytics website.

Contact PJM

Other Contacts


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

Fuel Cost Policy Analysis


MIRA - submit monthly fuel information
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M-15: Cost Development Guidelines 
CurrentRedlinePDF Sections 1.8 and 2.3 (1 and 7)


Operating AgreementPDF Schedule 2: Components of Cost