Markets & Operations

Financial Transmission Rights

Financial Transmission Rights or FTRs allow market participants to offset potential losses (hedge) related to the price risk of delivering energy to the grid. FTRs are a financial contract entitling the FTR holder to a stream of revenues (or charges) based on the day-ahead hourly congestion price difference across an energy path.  Learn more about financial transmission rights at the Learning Center.

Revenue Adequacy

Percent FTR Credit By MonthXLS  

Auction User Information

 

Opening, Closing and Clearing Dates for the FTR Auctions & Annual ARR Allocation

Web Calendar | Add to your calendar

XLS

Date
2017XLS 10.17.2016
2016XLS
10.26.2015
2015XLS
10.8.2014
2014XLS
10.15.2013
2013XLS
10.25.2012

Annual Auction Revenue Rights (ARR) Allocation


Annual FTR Auction


Long-Term FTR Auction

2017/2020

Date
OutagesXLS
12.14.2016
Results Round 3XLS
12.12.2016
Valid Pricing NodesCSV
11.29.2016
Results Round 2XLS
9.13.2016
Results Round 1XLS
6.13.2016

2016/2019

Date
Results Round 3XLS
12.10.2015
Valid Pricing NodesCSV
11.20.2015
OutagesXLS
11.20.2015
Results Round 2XLS
9.11.2015
Results Round 1XLS
6.10.2015

2013/2016

Date
Results Round 3XLS
12.12.2012
Valid Pricing NodesCSV
11.28.2012
OutagesXLS
11.26.2012
Results Round 2XLS
9.13.2012

Monthly FTR Auctions

Date
Valid Source/Sinks for Obligations: Prompt Month | Non Prompt MonthCSV  
Valid Option PathsCSV  
FTR Equivalent Nodes - Same StationXLS
10.10.2012
FTR Participant ListCSV
 
Monthly Auction Results (January 2006 to present)  

FTR Credit

Date
FTR Credit ExamplePDF
8.16.2013

Credit Requirements Calculators

Date
2017/2018XLS  9.14.2017
2016/2017XLS
3.10.2017
2015/2016XLS
3.23.2016
2014/2015XLS
1.30.2015
2013/2014XLS
11.26.2013
2012/2013XLS
4.10.2013

FTR Auction Bids

Annual - 4 month delay
Long-Term - 4 month delay
Monthly - 4 month delay

Contact PJM

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

New to Financial Transmission Rights?

FTR Market FAQs

Training

How Financial Transmission Rights works in PJM
PJM ARR & FTR 2017/2018PDF
Financial Transmission Rights (FTR) & Auction Revenue Rights (ARR): In Person | Virtual
Upcoming Training

FTR/ARR Senior Task Force (FTRSTF)

Upcoming Meetings | Past Meeting Materials
Issue Tracking: 
FTR & Auction Revenue Rights (ARR) Market Enhancements
FTR Forfeiture Rule Review

Tools

 
Overview

FTR Center

Learn More | Sign In

Manuals

 
M-6: Financial Transmission Rights
CurrentRedlinePDF
All sections

Agreements

 
Operating AgreementPDF
Sections 5 & 7
Open Access Transmission TariffPDF
Sections 9.2

Model Information

 

FTRs Affected by LMP Bus Model Updates

 
Date
9.13.2017CSV 9.12.2017
5.24.2017CSV 5.24.2017
3.9.2017CSV 3.8.2017
12.14.2016CSV 12.13.2016
9.14.2016CSV
9.13.2016
5.27.2016CSV
6.8.2016
3.18.2016CSV
3.17.2016
12.9.2015CSV
12.8.2015
9.30.2015CSV
10.2.2015
5.20.2015CSV
5.19.2015
3.11.2015CSV
3.10.2015
12.18.2014CSV
12.18.2014
9.26.2014CSV
9.25.2014
5.29.2014CSV
5.28.2014
4.10.2014CSV
4.10.2014
1.10.2014CSV
1.9.2014
10.23.2013CSV
10.23.2013
5.22.2013CSV
5.30.2013
3.27.2013CSV
3.28.2013
12.19.2012CSV
12.24.2012
10.10.2012CSV
10.9.2012